Despite posting impressive quarterly results, shares of Badger Meter, Inc. (BMI), a company that specializes in flow measurement, water quality, and control products, have dropped over 6% in Friday's early trading.
The company's profit for the fourth quarter rose to $24.72 million or $0.84 per share, an increase from the previous year's $17.54 million or $0.60 per share in the corresponding quarter. This exceeded the projected earnings of $0.82 per share set by analysts surveyed by Thomson-Reuters.
The reported sales figures reached $182.44 million, marking a 24% rise from the prior year's $147.32 million. This slightly exceeds the consensus estimate of $182.32 million.
Over the past year, BMI has seen stock prices fluctuating between $103.93 and $170.86. The current stock price stands at $142.09.
