) is rolling out a new smart gas meter platform in Europe which has
been geared to provide smart meter technology. The smart meters
will be initially introduced in the U.K. and Italy and afterwards
to other countries.
The smart gas meters are designed to benefit utilities in providing
accurate and detailed gas usage data for managing and measuring
gas. Additionally, the meters use remote asset monitors, advance
alarms and remote valve operation, which help in cutting down
business costs of the utilities.
Itron's smart gas meters represent the next generation of the
Gallus product line that are equipped with a state-of-the-art
modular electronic index. Therefore, the meters will be replacing
the aging traditional meters in Europe.
Itron's efficient gas meters empower utilities to better manage
their resources for a sustainable future. Hence, these meters have
gained a wide acceptance among customers across the globe.
Recently, Itron has won the nation's largest gas metering contract
for supplying gas meters as well as gas regulators to the Southern
California Gas Company, a regulated subsidiary of
). The installation of the gas meters will start from
fourth-quarter fiscal 2012.
Earlier, in July, Itron won a three-year contract to supply gas
meters (residential, commercial and industrial) to Turkey's largest
private gas utility, AKSA. The gas meters will be installed in the
regions covered by AKSA.
The innovative gas meters are helping Itron win new business
contracts and expand its geographic footprint. The company's
contract wins and expansion, in turn, will boost its revenues as
gas remains the most profitable area.
Based in Liberty Lake, Washington, Itron Inc., along with its
subsidiaries, is one of the principal technology providers to the
energy and water industries worldwide. The company's broad product
portfolio includes electricity, water, gas and thermal energy
measurement and control technology along with communications
systems, software and professional services.
Itron retains a short-term Zacks #3 Rank (Hold). We have a
long-term Neutral recommendation on the stock.
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