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    ITRI   US4657411066

ITRON, INC.

(ITRI)
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ITRON INC NPV : City of Ottawa Selects Itron Smart Metering Solution

04/29/2011 | 08:50am EST

Itron Inc. (NASDAQ: ITRI) announced today that the City of Ottawa (Ontario, Canada) has signed a contract to deploy Itron smart water metering technology as the foundation of its Advanced Metering Infrastructure Project. The solution will help the Ontario-based utility eliminate estimated billing for ratepayers and help it be more efficient in its water service operations.

The project consists of 210,000 smart water modules, fixed network two-way communications infrastructure and associated software, a meter data management system, and a variety of comprehensive professional services--including installation, project management, training and support. The smart meter modules will be retrofitted onto existing water meters within the service territory, minimizing service disruption for Ottawa's customers.

With field-proven technologies and advanced two-way communication capabilities between the meter and the water utility, the Itron smart metering system will allow Ottawa to collect time-synchronized meter data in daily or even hourly increments. Service representatives will then have access to real-time information for greater insight and accountability when responding to customer billing inquiries. The fixed network system enables granular collection and analysis of water consumption data, monitors for possible leaks and leak locations, and provides a clear understanding of city-wide usage patterns to better balance supply with demand.

"The advantages of smart metering initiatives are quickly becoming clear to forward-looking water providers," said Scott Owen, managing director, Itron Canada. "These include improving operational efficiency, enhancing customer service, and monitoring the integrity of distribution systems. This project exemplifies the City of Ottawa's commitment to deploying state of the art technologies to ensure they provide efficient reliable service to their customers--at an affordable price. Itron is proud to assist Ottawa in realizing these benefits today and in the future."

The deployment of the smart metering system began in January 2011 and is expected to take 24 months to complete. For more details about the City of Ottawa's AMI Project, click here.

About Itron:

At Itron, we're dedicated to delivering end-to-end smart grid and smart distribution solutions to electric, gas and water utilities around the globe. Our company is the world's leading provider of smart metering, data collection and utility software systems, with nearly 8,000 utilities worldwide relying on our technology to optimize the delivery and use of energy and water. Our offerings include electricity, gas, water and heat meters; network communication technology; collection systems and related software applications; and professional services. To realize your smarter energy and water future, start here: www.itron.com.

Itron Inc.
Ranny Dwiggins
Vice President, Investor Relations
509-891-3443
ranny.dwiggins@itron.com
or
Sharelynn Moore
Director, Itron Marketing & Communications
509-891-3524
sharelynn.moore@itron.com
www.itron.com


ę Business Wire 2011
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Financials (USD)
Sales 2021 2 001 M - -
Net income 2021 -35,9 M - -
Net Debt 2021 305 M - -
P/E ratio 2021 -82,1x
Yield 2021 -
Capitalization 2 949 M 2 949 M -
EV / Sales 2021 1,63x
EV / Sales 2022 1,42x
Nbr of Employees 6 153
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 65,14 $
Average target price 88,78 $
Spread / Average Target 36,3%
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Managers and Directors
Thomas L. Deitrich President, Chief Executive Officer & Director
Joan Schweikart Hooper Chief Financial Officer & Senior Vice President
Lynda L. Ziegler Chairman
Richard Christensen Senior VP-Global Research & Development
Greg Richards Senior Vice President-Technology & Research
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