) declared that Grayson-Collin Electric Cooperative (GCEC) has
selected the former's advanced metering solution utilizing
cellular communications to enable energy efficiency, reliability
and resource conservation.
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The cellular solution will enable GCEC to strategically deploy a
secure and scalable system to optimize power delivery at minimum
cost. GCEC has also contracted to use Itron services to manage
and maintain the entire solution including its core business
GCEC which serves about 40,000 members in Grayson and Collin
counties recently completed a successful trial of Itron's
cellular solution, which prompted it to go ahead for full
Itron will install 40,000 cellular meters over the next five to
seven years. With Itron's cellular solution, GCEC will use the
existing cellular networks to deliver grid intelligence and
support smart grid applications. GCEC will also be able to test
and validate the performance helping consumers, businesses and
Itron, which belongs to the electrical equipment industry along
National Instruments Corp.
Agilent Technologies Inc.
), posted second-quarter 2013 adjusted earnings of 58 cents per
share, down 50% year over year due to lower revenues and the
consequent decrease in gross profit. Adjusted earnings fell short
of the Zacks Consensus Estimate of 60 cents.
For full-year 2013, Itron expects revenues in the range of
$1.95-$2 billion. The company forecasts earnings in the band of
$2.25-$2.55 per share. Annual gross margin is expected at around
Itron will benefit from continued focus on lowering costs by
reducing capital expenditures and working capital balance. A
strong backlog, new contracts, flexible business operation and
expansion in emerging market will drive long-term growth.
However, the company continues to face a more challenged
competitive environment in the U.S. for water and gas metering
markets as increasing number of vendors are focusing on these
segments to offset softer electric AMI markets. The shift in
product mix and lower volume will act as headwinds in the
Liberty Lake, WA-based Itron Inc., along with its subsidiaries,
is one of the principal technology providers to the energy and
water industries worldwide. It produces electricity, gas, water,
and heat meters, data collection and utility software solutions
along with various other associated metering products for
residential, commercial and industrial, and transmission and
Itron currently retains a short-term Zacks Rank #5 (Strong