Stock of Badger Meter, Inc. (BMI) is falling about 18 percent during Friday morning trading after it reported a decline in first-quarter earnings to $27.33 million, or $0.93 per share, from last year's $38.40 million, or $1.30 per share.
The company's stock is currently trading at $124.53, down 18.32 percent or $27.93, over the previous close of $152.29 on the New York Stock Exchange. It has traded between $120.40 and $256.08 in the past one year.
The company's revenue for the period fell to $202.28 million from $222.21 million in the prior year. Additionally, the company has planned to acquire UDlive Limited, a UK-based provider of hardware-enabled software solutions for sewer line monitoring, for $100 million, plus contingent consideration.
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