Itron Reaches a New Milestone - Analyst Blog
April 13 2012 - 11:41AM
Zacks
Itron, Inc. (ITRI) reached a new milestone with
the installation of its four millionth smart meter by Southern
California Edison (SCE). Earlier, SCE had installed Itron's smart
meters and associated smart metering systems to support various
programs and services which allow customers to manage their
electricity usage and cut energy usage and utility bills.
SCE is one of the nation's largest electric utilities in
California (central, coastal and southern part). Edison
SmartConnect, the smart metering program of SCE uses Itron’s smart
electric meters and network communication infrastructure. The
technology provides consumers with advanced programs and services
(including Budget Assistant and Save Power Days) and access to
electricity usage data.
Itron’s smart grid solution was also selected by the Burlington
Electric Department (BED) to manage its electric grid efficiently.
The smart grid project of BED will include 20,000 Itron smart
meters, network communication infrastructure and professional
services.
Earlier this year, Itron had announced its decision to acquire
SmartSynch, Inc. to strengthen its integrated cellular
communications offering as well as provide a wider choice across
the spectrum of smart metering deployments to customers. The value
of the deal is $100 million.
The upcoming acquisition of SmartSynch will position Itron to
win new business projects. The company expects the acquisition to
be accretive around 2013 and add $50 million to 2012
revenues.
In addition, the company is focusing on improving efficiency of
the global manufacturing arena, driven by its restructuring
efforts. It has closed two facilities and reduced headcount by 140.
Further, it has plans to close a number of smaller businesses
during the second quarter of 2012
The company, however, faces tough competition from a large
number of companies offering similar products, systems, and
services. Some of its well-known competitors include
General Electric Company (GE), Cooper
Industries Ltd. (CBE) and Badger Meter
Inc. (BMI)
Currently, we have a Neutral recommendation on Itron, which
carries a Zacks #3 Rank (short-term Hold rating).
BADGER METER (BMI): Free Stock Analysis Report
COOPER INDS PLC (CBE): Free Stock Analysis Report
GENL ELECTRIC (GE): Free Stock Analysis Report
ITRON INC (ITRI): Free Stock Analysis Report
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