) has signed a four-year contract to supply up to 100,000 water
meters per year to Evides Waterbedrijf. Itron's shares gained 0.25%
and closed at $39.58 on Aug 13, a day after the announcement.
Evides Waterbedrijf, which supplies drinking water to 2.5 million
customers in the Western Netherlands will use Itron's advanced
metering infrastructure (AMI)-ready volumetric water meters to
modernize water system. The metering solution will enable Evides to
track and use water resources more efficiently.
Itron's AMI solution for water has been designed to reliably
collect water consumption data and transform that data into
valuable and actionable intelligence for users. In addition, these
AMI solutions connect customers with their own usage and profile
Itron's AMI solution integrates most billing systems, as well as
other data systems, including GIS, SCADA, work order management and
hydraulic load modeling software. Itron's solutions leverage new
and evolving technologies and services to solve critical challenges
and drive additional business value.
Evides has selected Itron's water meters as it has prior experience
with its accurate and reliable technologies. These high-quality
residential meters designed for long-term performance and
reliability will help Evides maximize revenue collection through
managed water delivery to residential customers.
Itron's growth mainly depends on leveraging smart technologies and
data expertise through innovative new software and services which
will help in increasing payback opportunities for utilities to
deploy smart systems, by helping them to unlock more value from the
Sales for Itron's Water Segment improved 14% year over year in the
second-quarter 2014. Itron is well positioned to benefit from its
Water segment which is performing very well along with displaying
prospects of betterment in the future.
Moreover, a strong backlog, new contracts, flexible business
operations and expansion in emerging markets are likely to drive
long-term growth. However, the Electricity business is operating in
a challenging environment and remains a matter of concern.
Liberty Lake, WA-based Itron Inc., along with its subsidiaries, is
one of the principal technology providers to energy and water
industries worldwide. It produces electricity, gas, water and heat
meters, data collection and utility software solutions as well as
various other associated metering products. The company provides
its services to residential, commercial and industrial customers,
along with transmission and distribution customers.
Itron currently carries a Zacks Rank #3 (Hold). Some better-ranked
stocks in the electrical test equipment sector include Ametek Inc.
), Cognex Corp. (
) and National Instruments Corp. (
). All these stocks carry a Zacks Rank #2 (Buy).
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