Itron, Inc. (ITRI - Free Report) has announced a strategic alliance with a Brazilian technology company, Choice. The companies will integrate and jointly market a non-technical loss (NTL) solution to utilities around the world.
Itron’s comprehensive smart metering and data management solutions in association with Choice’s Revenue Intelligence technology will help the utilities to identify areas of NTL in their service territory. The strategic alliance will provide the utilities with a solution that more quickly and effectively identifies and recovers electricity losses.
The joint solution’s primary focus will be Brazil and help utilities in delivering a high return on investment. The solution will optimize both the companies’ ability to create, collect, measure, store and analyze meter information.
Recently, Itron declared the expansion of its gas product portfolio with the release of a new residential gas meter, remote disconnect shutoff valve and gas sensors for natural gas utilities. The new products will make the utilities operational and address delivery challenges, efficiencies and service reliability. The new gas products are designed to meet the growing challenges faced by utilities.
Itron, which belongs to the electrical equipment industry along with Ametek Inc. (AME - Free Report) , Teradyne Inc. (TER - Free Report) and Agilent Technologies Inc. (A - Free Report) , reported first-quarter 2013 adjusted earnings of 31 cents per share, declining 66% year over year on lower revenues. Adjusted earnings fell short of the Zacks Consensus Estimate of 46 cents.
Liberty Lake, Wash-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 along with various other associated metering products for residential, commercial and industrial, and transmission and distribution customers.
Itron currently retains a short-term Zacks Rank #5 (Strong Sell).