Key Developments: Itron Inc (ITRI.O)
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Latest Key Developments (Source: Significant Developments)
Itron Inc Renews Contract With British Gas For Comprehensive Managed Services
Itron Inc announced that it has signed a five-year contract with British Gas to provide a full suite of services in support of more than 1.25 million electricity prepayment customers throughout the UK. Under this contract, Itron is providing a B2B customer support call center, prepayment vending transaction management, meter data management, data reporting, technical support and consulting services. Full Article
Itron Inc Reaffirms FY 2013 Guidance-Conference Call
Itron Inc announced that for fiscal 2013, it expects revenue between $2.0 billion and $2.1 billion and Non-GAAP diluted EPS between $3.00 and $3.25. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $2 billion for fiscal 2013. Full Article
Aguas de Valencia Selects Itron Inc's Fixed Network Solution
Itron Inc announced that Aguas de Valencia, a private water utility serving more than 3.5 million residents mainly in Valencia, Catalonia, Aragón and Northern Spain, will begin full deployment of Itron's water AMI solution, including 100,000 water meters, 100,000 communication modules, fixed network infrastructure and software, which will be installed over the next five years. The utility has successfully completed a 5,000-endpoint pilot of Itron's advanced metering infrastructure (AMI) solution which led to their decision to move forward with Itron for a full deployment. Full Article
Itron Inc Announces Share Repurchase Program
Itron Inc announced that Board of Directors has authorized a new share repurchase program of up to $50 million of Itron common stock during the next twelve months. In February, the Company completed its previously announced repurchase program by purchasing approximately 2 million shares of common stock for a total of $77 million. Full Article
City Of San Diego Selects Itron Inc For Citywide Automation Project
Itron Inc announced that the City of San Diego's Public Utilities Department (San Diego) has selected Itron's advanced metering infrastructure (AMI) solution for the automation of the City's commercial and industrial (C&I) water meters. Itron's solution will help streamline meter reading and enhance customer service by enabling San Diego to instantaneously access water usage data using AMI technology. The contract includes a citywide fixed-base communication network infrastructure, water communication modules for C&I meters and private cloud managed services. The AMI solution will provide remote meter reading capabilities, allowing San Diego to be more responsive to customer needs, minimize operating costs and improve safety for employees. Installation will begin in early 2013 and is expected to be complete within eight months. Full Article
Itron Inc Issues FY 2013 Guidance; Revenue Guidance In Line With Analysts' Estimates
Itron Inc announced that for fiscal 2013, it expects revenue between $2.0 billion and $2.1 billion and Non-GAAP diluted EPS between $3.00 and $3.25. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $2.1 billion for fiscal 2013. Full Article
NIPSCO Selects Itron Inc's Automated Metering Solutions to Streamline Meter Reading and Improve Efficiency
Itron Inc announced that Northern Indiana Public Service Company (NIPSCO), a subsidiary of NiSource Inc serving 786,000 natural gas customers and 457,000 electric customers in northern Indiana, has selected Itron`s automated meter reading (AMR) solution for mobile collection of meter data.Over the next several years, NIPSCO will be installing AMR technologies across its entire service territory as part of the utility`s continued focus on improving customer service. The contract includes a minimum of 400,000 Itron gas communication modules and 450,000 Itron electric meters, including Itron`s new Bridge Meter, which offers increased operational efficiencies and future investment protection. In addition, Itron will provide more than 20,000 gas meters, its mobile collection system, Field Deployment Manager software, overall project management and professional services. The solution will enable NIPSCO to remotely obtain accurate meter readings, while streamlining the meter reading process, improving operational efficiency, reducing costs and improving safety. Full Article
Itron Inc And Tantalus Expand Offering Into South America With Project In Guyana
Itron Inc and Tantalus announced they have been selected for an initial deployment of smart meters and AMI infrastructure for South American utility Guyana Power and Light (GP&L). This project will be a part of the sustainable operations of the energy sector and improve service (GY-L1037) program which is financed by the Government of Guyana through a loan from the Inter-American Development Bank and GP&L. Full Article
Itron Inc Secures Gas Meter Contract In Poland
Itron Inc announced that it signed a contract with Pomerania Gas Company for the supply of nearly 200,000 residential and commercial gas meters. The meters will be deployed over the next three years by the gas company, one of six gas distribution companies in Poland. Situated in north Poland, Pomerania Gas Company serves approximately 764,000 customers. Full Article
National Grid Selects Itron Inc and Cisco Systems Inc's Smart Grid Solution For Pilot Program
Itron Inc. announced that National Grid, a supplier of electricity to approximately 3.4 million customers in the Northeast, has selected Itron`s smart grid solution which uses Cisco Systems Inc's multi-application communications network for the utility`s 10,000 meter Smart Grid Pilot Program in Worcester, Mass. This project adds to the 5,000 meter early field trial (EFT) that started in February 2012 in Worcester. National Grid will begin deploying the full pilot in early 2013. Full Article
Itron fourth-quarter profit misses analysts' estimates as revenue sags
- Power meter maker Itron Inc reported quarterly profits and annual forecasts that missed analysts' estimates after the completion of several government-funded projects led to a drop in revenue in its energy business, sending its shares down 10 percent in after-hours trading.
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