SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 9, 2002
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ITRON, INC.
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(Exact name of registrant as specified in its charter)
Washington
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(State or Other Jurisdiction of Incorporation)
000-22418
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(Commission File Number)
91-1011792
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(IRS Employer Identification No.)
2818 North Sullivan Road
Spokane, Washington 99216-1897
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(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code: (509) 924-9900
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N/A
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(Former Name or Former Address, if Changed Since Last Report
Item 5: Other Information
Quarterly Segment Information for 2001 and 2000
Effective January 1, 2002 we realigned our organization from six business units,
comprised of both market segments and products, to four business units composed
of market segments. Results from the former Client Services and Energy
Information Systems segments, which are product lines, have been reclassified
into our Electric, Natural Gas, Water & Public Power, and International
segments. Our Form 10-K, which we filed on March 28, 2002, reflects the
reclassified segment information for 2001 and 2000 on an annual basis only. The
following table reflects quarterly segment data reclassified for 2001 and 2000
to conform to the January 1, 2002 organization. Corporate information is
included to reconcile segment activity to consolidated statements of operations:
Year Ended December 31, 2001
(in thousands)
First Second Third Fourth
Quarter Quarter Quarter Quarter Total
-------- --------- -------- -------- --------
Revenues
Electric Systems $ 19,935 $ 22,967 $ 25,555 $ 31,265 $ 99,722
Natural Gas Systems 8,467 8,386 9,906 8,935 35,694
Water & Public Power Systems 10,640 14,827 19,945 19,660 65,072
International Systems 8,429 6,834 5,449 4,355 25,067
-------- --------- -------- -------- --------
Total revenues $ 47,471 $ 53,014 $ 60,855 $ 64,215 $225,555
Gross profit (loss)
Electric Systems $ 8,682 $ 9,578 $ 10,405 $ 13,687 $ 42,352
Natural Gas Systems 4,528 4,715 5,384 4,743 19,370
Water & Public Power Systems 4,431 6,826 9,174 8,360 28,791
International Systems 2,404 2,898 2,570 749 8,621
Corporate (1,364) (875) (480) 1,444 (1,275)
-------- --------- -------- -------- --------
Total gross profit (loss) $ 18,681 $ 23,142 $ 27,053 $ 28,983 $ 97,859
Operating income (loss)
Electric Systems $ 7,660 $ 8,367 $ 9,014 $ 12,160 $ 37,201
Natural Gas Systems 3,911 4,090 4,689 4,048 16,738
Water & Public Power Systems 3,694 5,973 8,286 7,342 25,295
International Systems 907 1,081 141 (290) 1,839
Corporate (12,456) (13,659) (14,832) (14,266) (55,213)
-------- --------- -------- -------- --------
Total operating income (loss) $ 3,716 $ 5,852 $ 7,298 $ 8,994 $ 25,860
Year Ended December 31, 2000
(in thousands)
First Second Third Fourth
Quarter Quarter Quarter Quarter Total
-------- --------- -------- -------- --------
Revenues
Electric Systems $ 17,451 $ 12,457 $ 13,059 $ 19,018 $ 61,985
Natural Gas Systems 11,355 11,164 9,483 7,834 39,836
Water & Public Power Systems 15,034 18,069 14,142 12,878 60,123
International Systems 3,085 2,880 4,008 8,024 17,997
-------- -------- -------- -------- --------
Total revenues $ 46,925 $ 44,570 $ 40,692 $ 47,754 $179,941
Gross profit (loss)
Electric Systems $ 6,853 $ 5,993 $ 5,691 $ 8,448 $ 26,985
Natural Gas Systems 6,066 6,784 5,431 4,080 22,361
Water & Public Power Systems 6,156 8,265 6,099 5,930 26,450
International Systems 1,467 1,316 1,758 3,212 7,753
Corporate (3,236) (4,794) (2,650) (2,020) (12,700)
-------- -------- -------- -------- --------
Total gross profit (loss) $ 17,306 $ 17,564 $ 16,329 $ 19,650 $ 70,849
Operating income (loss)
Electric Systems $ 5,909 $ 5,125 $ 4,870 $ 7,519 $ 23,423
Natural Gas Systems 5,397 6,126 4,870 3,563 19,956
Water & Public Power Systems 5,467 7,540 5,413 5,240 23,660
International Systems (12) 9 275 1,330 1,602
Corporate (15,558) (16,283) (13,645) (13,505) (58,991)
-------- -------- -------- -------- --------
Total operating income (loss) $ 1,203 $ 2,517 $ 1,783 $ 4,147 $ 9,650
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Spokane, State of
Washington, on the 9th day of April, 2002.
ITRON, INC.
By /s/ David G. Remington
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David G. Remington
Vice President and Chief Financial Officer