Itron, Inc. (NASDAQ:ITRI)

Guidance Update:

ITRI Affirms 2008 guidance for revenue, diluted non-GAAP EPS and adjusted EBITDA provided in its October 29, 2008 third quarter earnings release:

 Revenue-  $1.91 billion to$1.93 billion

 Diluted non-GAAP EPS-  $3.35 to $3.45 

 Adjusted EBITDA-  in excess of $280 million.

"At this point we feel more comfortable with the low end of the ranges for all of the above financial measures based on a tax rate of 26%.”

These assumptions were based on a Euro to US Dollar exchange rate of 1.30 and a non-GAAP tax rate of 26%. The actual average exchange rate for the fourth quarter was 1.32.

 2009 guidance was also confirmed:

 Revenue-  Expected to be relatively flat compared with 2008,

 Non-GAAP EPS-  Expected to grow in the low to mid teens.  

Source: Business Wire (January 13, 2009)