Company tops $100 million in quarterly sales for first time
Improved residential and commercial sales helped Brown Deer-based Badger Meter set earnings records for the first quarter and surpass $100 million in quarterly sales for the first time.
The manufacturer of water meters reported net income of about $8 million and diluted earnings per share of 55 cents. Both figures represented an increase of more than 89 percent from the first quarter of 2015.
The company’s revenue for the quarter came in at $100.57 million, a 20 percent increase from 2015.
Richard A. Meeusen, Badger Meter chairman, president and chief executive officer, credited significantly higher sales of municipal water products, including the initial sales of a three-year contract with American Water for the strong quarter.