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News Release From : Badger Meter , Inc. 4545 W. Brown Deer Road , Milwaukee , WI 53223 P.O. Box 245036 , Milwaukee , WI 53224-9536 FOR IMMEDIATE RELEASE For Additional Information Contact : Karen Bauer at ( 414 ) 371-7276 kbauer@badgermeter.com BADGER METER REPORTS FIRST QUARTER 2021 RESULTS Milwaukee , WI , April 20 , 2021 - Badger Meter , Inc. ( NYSE : BMI ) today reported results for the first quarter ended March 31 , 2021 . First Quarter 2021 Highlights • • Total sales of $ 117.8 million , an increase of 9 % compared to $ 108.5 million in the comparable prior year quarter . Diluted earnings per share ( EPS ) were $ 0.47 , an increase of 15 % over the $ 0.41 in the comparable prior year period . • Robust cash from operations of $ 30.6 million . • Deployed $ 44 million of cash on hand to acquire Analytical Technologies , Inc ( ATI ) , adding to and enhancing the comprehensive and scalable water quality monitoring offerings of recently acquired s :: can . • Record high order pace and quarter ending backlog . " Badger Meter delivered a strong quarter across the breadth of key financial performance metrics including sales , margin , EPS and cash flow , " said Kenneth C. Bockhorst , Chairman , President and Chief Executive Officer . “ Most encouraging , we experienced record high order rates in the first quarter with accelerated customer adoption of our innovative digital water technologies and global flow instrumentation market recovery . While the conversion of these robust orders into sales was impeded by certain electronic component shortages and logistics challenges , we executed well as evidenced by the strong operating margin improvement and cash flow , and exited the quarter with a record backlog . Our recent acquisitions performed well and integration teams continue to execute strategic growth plans . I want to recognize the tremendous dedication and efforts of our talented workforce in delivering a great quarter for our customers and shareholders . "