Badger Meter, Inc. (BMI) has reported 9.50 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $8.75 million, or $0.30 a share in the quarter, compared with $7.99 million, or $0.28 a share for the same period last year. Revenue during the quarter went up marginally by 1.03 percent to $101.61 million from $100.57 million in the previous year period. Gross margin for the quarter contracted 75 basis points over the previous year period to 38.04 percent. Total expenses were 86.74 percent of quarterly revenues, down from 87.27 percent for the same period last year. This has led to an improvement of 52 basis points in operating margin to 13.26 percent.
Operating income for the quarter was $13.47 million, compared with $12.81 million in the previous year period.
"This was an excellent quarter for Badger Meter. Our net sales, net earnings and diluted earnings per share set new first quarter records, despite a challenging comparison against our record first quarter performance last year," said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter.
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