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Itron (ITRI) Settles Patent Litigation Claims of TransData
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Itron, Inc. (ITRI - Free Report) has reached an agreement to settle patent litigation claims brought by TransData, Inc. Financial terms of the settlement were not disclosed.
Dallas, TX-based TransData is a leading developer and manufacturer of digital electricity meters and related energy measurement products for the electric utility industry. The company had brought claims against Itron and certain Itron customers regarding the infringement of its patents.
Per the agreement, the parties have mutually agreed to dismiss all litigation claims related to TransData’s patents. Itron and its customers will not subject to any further infringement claims in connection with these patents.
Itron had previously recorded a financial reserve in 2015 for estimated settlement costs related to this matter. The company will now record adjustments to the amount in 2016, to reflect the final agreement.
Itron continues to focus on investments to increase operational efficiencies and customer-service levels by embracing new technologies. The company is also undertaking aggressive measures to strengthen quality processes, additional project risk management controls, centralized global supplier and procurement management.
Moreover, significant backlog growth, benefits from restructuring and efficiency projects as well as Itron OpenWay Riva next-generation platform are expected to drive revenue growth and improve profitability.
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, and various other associated metering products for residential, commercial and industrial customers as well as transmission and distribution customers.
Currently, Itron carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector are Cognex Corp. (CGNX - Free Report) , Agilent Technologies, Inc. (A - Free Report) and Amkor Technology, Inc. (AMKR - Free Report) . While Cognex sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and Amkor Technology carry a Zacks Rank #2 (Buy).
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Itron (ITRI) Settles Patent Litigation Claims of TransData
Itron, Inc. (ITRI - Free Report) has reached an agreement to settle patent litigation claims brought by TransData, Inc. Financial terms of the settlement were not disclosed.
Dallas, TX-based TransData is a leading developer and manufacturer of digital electricity meters and related energy measurement products for the electric utility industry. The company had brought claims against Itron and certain Itron customers regarding the infringement of its patents.
Per the agreement, the parties have mutually agreed to dismiss all litigation claims related to TransData’s patents. Itron and its customers will not subject to any further infringement claims in connection with these patents.
ITRON INC Price
ITRON INC Price | ITRON INC Quote
Itron had previously recorded a financial reserve in 2015 for estimated settlement costs related to this matter. The company will now record adjustments to the amount in 2016, to reflect the final agreement.
Itron continues to focus on investments to increase operational efficiencies and customer-service levels by embracing new technologies. The company is also undertaking aggressive measures to strengthen quality processes, additional project risk management controls, centralized global supplier and procurement management.
Moreover, significant backlog growth, benefits from restructuring and efficiency projects as well as Itron OpenWay Riva next-generation platform are expected to drive revenue growth and improve profitability.
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, and various other associated metering products for residential, commercial and industrial customers as well as transmission and distribution customers.
Currently, Itron carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the same sector are Cognex Corp. (CGNX - Free Report) , Agilent Technologies, Inc. (A - Free Report) and Amkor Technology, Inc. (AMKR - Free Report) . While Cognex sports a Zacks Rank #1 (Strong Buy), Agilent Technologies and Amkor Technology carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>