This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Badger Meter Reports Record Sales And Earnings Per Share For 2012

Badger Meter, Inc. (NYSE: BMI) today reported results for the fourth quarter and year ended December 31, 2012.

Fourth Quarter 2012 Highlights

  • Net sales were a fourth quarter record $74,323,000, a 22.4% increase from sales of $60,710,000 for the fourth quarter of 2011.
  • Net earnings were $5,484,000 for the fourth quarter of 2012, a 362.0% increase from net earnings of $1,187,000 for the fourth quarter of 2011.
  • Diluted earnings per share were $0.39 for the fourth quarter of 2012, a 387.5% increase from diluted earnings per share of $0.08 for the fourth quarter of 2011.

Full Year 2012 Highlights

  • Net sales for 2012 were a record $319,660,000, a 21.6% increase from sales of $262,915,000 for 2011.
  • Net earnings were $28,032,000 for 2012, a 46.3% increase from net earnings of $19,161,000 for 2011.
  • Diluted earnings per share were a record $1.95 for 2012, a 53.5% increase from diluted earnings per share of $1.27 for 2011.

Operations Review

“We ended 2012 with a solid fourth quarter that helped us achieve record sales and higher earnings per share for the year. The increase in fourth quarter sales was due to the acquisition of Racine Federated, Inc. in January 2012, along with higher sales of products for the municipal water market, particularly residential water meters,” said Richard A. Meeusen, chairman, president and chief executive officer of Badger Meter. He noted that net earnings for the fourth quarter of 2012 included nearly $0.05 of expenses related to a non-cash pension charge.

“For the full year, sales of the core Badger Meter products, not including Racine Federated, were up 6%. The comparison was negatively impacted by unusually high sales to a natural gas customer in 2011 as part of a large contract, which we did not have in 2012. Excluding natural gas, sales of the core Badger Meter products were up 11% in 2012. Virtually all product lines contributed to the higher sales, as we benefited from increased housing starts, a slowly improving economy and growing demand for our new products,” said Meeusen. He added that the record diluted earnings per share reflected the repurchase of approximately 888,000 shares in the first half of 2012.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,563.30 -317.06 -1.88%
S&P 500 1,930.67 -39.40 -2.00%
NASDAQ 4,369.7730 -93.1290 -2.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs