Wednesday, October 27, 2010

Itron Sees Revenue Boost From Clean Energy Interest

The recent focus on clean energy, and specifically, the smart grid and utility industry, looks to have been benefiting Liberty Lake, Washington-based Itron, a maker of smart utility meters. According to Itron Wednesday, it had record quarterly and nine month revenues, reporting $576M in third quarter revenues and $1.6 billion in revenues for the first nine months of 2010. That was 41 percent higher than its Q3 2009 revenues ($408M), and 36 percent higher than 2009 nine month revenues ($1.2 billion). Itron, which is publicly held, said that both North American and International shipments of its meters were higher, although it saw less revenues Internationally due to foreign exchange rates.