Itron, Inc. (ITRI) Earnings Call Transcript & Summary

Ladies and gentlemen, thank you for standing by, and welcome to the Itron conference call. [Operator Instructions] I would now like to hand the conference over to your speaker today, Ms. Sarah Hlavinka, Corporate Secretary. Please go ahead, ma'am.

Thank you. Good afternoon, and welcome to the 2020 Annual Shareholder Meeting of Itron. The agenda and rules of conduct appear on your screen or through the provided link. Itron will conduct its meeting in accordance with these documents. During this meeting, shareholders of record will have an opportunity to submit questions through the text box on the portal. Such questions will be appropriately moderated by the company. Now please welcome Lynda Ziegler, Chair of the Itron Board.

Good afternoon, and welcome to the 2020 Annual Shareholders Meeting of Itron Incorporated. I am Lynda Ziegler, Chair of the Board, and I will be presiding at this meeting. Sarah Hlavinka will act as Secretary of the meeting. Leah Grant has been appointed to act as inspector of elections. We thank our shareholders for attending our first virtual shareholder meeting. This format was necessary due to the COVID-19 crisis and out of consideration for the health and safety of our shareholders, employees and Board members. The Secretary has notified me and delivered an affidavit of mailing establishing that notice of this meeting was duly given. All shareholders of record at the close of business on March 2, 2020, are entitled to vote at the annual meeting. The inspector of elections has confirmed to me that a quorum exists for this meeting. Therefore, I declare this meeting to be duly convened, and we'll proceed to the business of the meeting. The minutes of the 2019 annual meeting of shareholders are available via the Broadridge-provided link and are therefore deemed to have been read. If there are no corrections or changes, the minutes of the meeting of May 9, 2019 are approved. The 3 proposals up for vote have all been described in our proxy statement. They are the election of 3 directors: Jerome Lande, Frank Jaehnert, Gary Pruitt; an advisory approval of the company's executive compensation program, or say on pay; and the ratification of the appointment of Deloitte & Touche LLP as the company's independent registered public accountant for 2020. The polls are now open for voting. Is there anyone here who would like to vote or who would like to change a vote that they previously submitted via proxy? Please submit your vote using the virtual interface and instructions provided, and your vote will be included in the final results. If there are any questions related to the proposals, please type it into the text box interface appearing on your screen or call the voice dial-in phone line where an operator will assist you.

There are no questions, Lynda. [Voting]

Thank you for voting. I declare that the polls are closed at 2:04 p.m. Central Time on May 7, 2020. The inspector of elections will now count the votes. As you are aware, a large majority of our shareholders have voted in advance of this meeting. The inspector of elections has confirmed that the preliminary voting results show that all of the proposals have passed. The final voting results will be filed with the SEC in Form 8-K within 4 business days. That concludes the business portion of our meeting, and the meeting of shareholders is hereby adjourned. I would now like to turn the meeting over to our President and CEO, Tom Dietrich.

Thank you, Lynda. With the COVID-19 crisis impacting our daily lives, I would like to take this moment to thank the employees of Itron for their hard work and dedication in these unique times. As my first shareholder meeting as CEO, I would also like to thank our shareholders and the Board of the Directors for their continuing support. At this point, we'll be happy to open up the general session and take any questions you may have.

There are no questions again, Tom. Operator, you can close the meeting.

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.