Itron (NASDAQ: ITRI) announced it received a record number of new orders in 2005, a total of $655 million. 2004 also had record bookings of 358 million. Fourth quarter new orders of $149 million include the Company’s largest order ever for its distribution line design software, received from Pacific Gas & Electric, and contracts for over 2 million automatic meter reading (AMR) modules and AMR-equipped meters. For the full year 2005, new order bookings include contracts to automate over 10 million electric, gas and water meters.
“Our success rate in winning new orders in 2005 demonstrates that the business case for Itron’s technology is very compelling for many utilities,” said LeRoy Nosbaum, chairman and CEO. “While we continue to be very excited about the prospects for fixed network AMR and AMI in the future, Mobile AMR technology provides our customers with a valuable tool for controlling costs, increasing operating efficiency and improving customer service. And, our wide range of software solutions gives our customers leading edge tools and analytics needed to make better, more informed decisions across their operations.”
Itron is scheduled to release financial results for the fourth quarter and full year 2005 on February 14, 2006 at approximately 1:00 pm PT.
About Itron
Itron is a leading technology provider and critical source of knowledge to the global energy and water industries. Nearly 3,000 utilities worldwide rely on Itron’s technology to provide the knowledge they require to optimize the delivery and use of energy and water.
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