Management, on the earnings call provided some commentary and guidance on the declining adjusted EBITDA margin. Initiating restructuring projects in November 2014, management foresees being mostly finished with the plans by the end of 2016. Furthermore, management contends that once the restructuring is finished, Itron will meet its mid-teens EBITDA margin target by 2017 and yield $40 million in annualized savings beginning in the same year.