Badger Meter Inc. today reported record sales, earnings and earnings per share from continuing operations for the second quarter.
The Milwaukee-based company's quarterly net earnings were a record $7.0 million, or 48 cents per share, up from $5.5 million, or 38 cents per share, in the same period a year ago.
The company's net sales increased to $143.1 million from $114.8 million a year earlier.
"This was another excellent quarter for Badger Meter and our fifth consecutive quarter of record results," said Richard Meeusen, chairman, president and chief executive officer of Badger Meter.
Meeusen said the sales increase was again driven by strong performance of the company's utility products, especially automatic meter reading (AMR) technologies. Sales of the company's Orion proprietary drive-by AMR system and installation of plastic meters as part of the three-year $39.8 million contract with the city of Chicago also contributed to the increase.
Sales of Badger Meter's industrial products increased modestly, with higher sales of small precision valves and impeller flow sensors.
"Our margins were slightly lower in the second quarter due to changes in the product mix, offset in part by price increases implemented earlier in the year. Selling, general and administrative expenses increased due in part to higher costs associated with the growth in sales and intangible amortization related to the recent acquisition of the technology for the Galaxy) automatic metering infrastructure (AMI) system. We are implementing another price increase in July to reflect continuing increased costs," Meeusen said. "While the current economic environment is a concern, to this point we have not seen an impact on sales of our utility products. We have seen some weakening in certain products in our industrial markets, however, which are being somewhat offset by increased sales of our small precision valves into the petroleum and certain other industries."

ABRA Auto Body & Glass, a Minneapolis-based damaged vehicle repair company, announced today the opening of a new repair center in New Berlin at 14750 W. National Ave., its fifth shop in the Milwaukee market.
With the new shop, ABRA now operates 92 repair centers in 11 states.
"ABRA is committed to growth in Wisconsin, with our emphasis on the Milwaukee, Madison and Kenosha metros", said Tim Adelmann, executive vice president of ABRA. "This New Berlin center helps us meet the needs of our insurance partners and their policyholders by adding a state-of-the-art facility in the western Milwaukee metro."
The new ABRA-New Berlin repair center was formerly operated as New Berlin Auto Body. Over the past 90 days, ABRA has reconstructed the building, converting it to an upscale, state-of-the-art, 10,000-square foot facility.
New equipment at the center includes a Car-O-Liner 5500 frame rack, a Car-O-Liner Vision X3 measuring system and a Unicure Downdraft 3007 paint booth.
Jeff Mohns, vice president of ABRA-Wisconsin, said, "We are very excited about our continued growth in the Milwaukee market. We will continue to offer our excellent quality repairs and customer service. As with our other Wisconsin locations, New Berlin will offer full-service collision repair, paintless dent removal, auto glass repair and replacement, and 24/7 towing and rental car assistance."

Dave Yanda will succeed Doug Quick as chief executive officer of Lakeside Foods Inc. in Manitowoc.
Quick, who recently announced his retirement, will continue as chairman of the company's board of directors in a non-executive capacity.
Quick joined Lakeside in 1971 and served in various management positions until his election as president and CEO in 1986. During his tenure, Lakeside's sales increased more than 640 percent, and the company grew form having two plants and two distribution centers to 15 plants and eight distribution centers.
Yanda began his Lakeside career in 1973. In June 2007, Yanda was elected president and chief operating officer of the company.
"This is a significant change for Lakeside, but not an unanticipated one," Quick said. "It is the completion of a succession transition process that we have been developing over the past years. I have been working closely with Dave to coordinate our continuing strategic and operational programs in order to assure that this important change will be successful."
"I am very honored to be named to this position," Yanda said. "Lakeside has a long and rich history. I look forward to leading our company and working with the fine people who comprise our Lakeside team in the years ahead. Lakeside, especially under Doug's leadership, has become known throughout the industry as a provider of quality food products, both domestically and internationally. Thanks to the efforts and dedication of all our people - both in the past and now - Lakeside is well positioned for continued success."

The Wisconsin State Cranberry Growers Association (WSCGA) and national cranberry industry leaders announced an effort to expand Wisconsin cranberry marshes and bring up to 1,115 new jobs to the state and increase the industry's significant, positive economic impact by $75 million annually.
According to industry leaders such as Ocean Spray Cranberries, Cliffstar, the Cranberry Marketing Committee and others, the cranberry industry as a whole needs to plant approximately 5,000 additional acres to meet domestic and world demand.
According to a 2008 economic study conducted by Steve Deller and Ed Jesse, both of the University of Wisconsin Department of Agricultural and Applied Economics, if all 5,000 acres planted are in Wisconsin, the state would realize 1,115 new jobs and an increased economic impact of $75 million annually.
"The opportunity to expand Wisconsin's largest fruit crop and the associated job growth and economic activity is upon us," said Tom Lochner, executive director of the WSCGA.  "Experts project an increased demand for cranberries, and Wisconsin is by far the best state to meet that need and reap the economic benefits, but we need to seize the opportunity before other states or world regions do so."
"We've seen over the last ten years that the manufacturing and processing jobs come to the fruit," said Lochner. "In just weeks, Ocean Spray will complete a $50 million expansion of its Wisconsin Rapids Craisins facility that will provide 90 new jobs.  Urban Processing in Wisconsin Rapids has undergone three plant expansions since 2001 to now employ 42 people full time.  And, Gardner/Badger State Fruit Processing in Pittsville has constructed over 700,000 square feet of storage and in 2004 established a processing plant that employs 20 full-time people, and it, too, is looking to expand."
"In today's global economy the rules of supply and demand win, and we hope Wisconsin can play a significant role in that equation," said Randy Papadellis, chief executive officer of Ocean Spray. "Other growing regions including Canada provinces like British Columbia, Quebec, Atlantic Provinces and Ontario as well as Chile are interested, but Wisconsin has the expertise, facilities, success, trained workforce and more that make it a great place to look first."

Milwaukee's hometown airline is eliminating jobs and flights, and Milwaukee's largest brewer is moving its headquarters out of town. Learn more about the future for these companies in the online edition of "Upfront With Mike Gousha" at www.wisn.com/video/16936240/index.html. WISN-Channel 12 is a media partner of Small Business Times.

Walter "Terry" Lutz will continue as president of Hartford-based Signicast Corp., which has been acquired by The Pritzker Group, a Chicago and Los Angeles-based private investment firm. Read more in the latest edition of the BizTimes Manufacturing Weekly.

Wisconsin's reserve fund for paying jobless claims could slip into insolvency in March of next year, a state projection shows. Read more in SBT's daily roundup of headlines from newspapers across the state at www.biztimes.com/#news.

The BizTimes Stock Index lost 2.77 points to close at 136.94 Friday, and local stocks retained that momentum in early morning trading today, led by Manpower Inc. (up $3.00 to $50.55), Badger Meter Inc. (up $2.40 to $53.70) and Bucyrus International Inc. (up $1.61 to $62.42). The largest local decliners this morning were Fiserv Inc. (down $1.41 to $46.72) and Kohl's Corp. (down59 cents to $42.35). The BizTimes Stock Index was created by Small Business Times and is monitored by North Shore Bank. The index, which measures the stock values of publicly held companies based in southeastern Wisconsin, is updated daily and can be viewed at www.biztimes.com.

Contrary to what may be popular opinion, a down economy is no time for businesses to contract, according to Steve Gardner, author of today's Milwaukee Biz Blog.