$ITRI (Itron, Inc.)

$ITRI {{ '2016-03-22T12:58:12+0000' | timeago}} • Announcement

Technology company $ITRI said that it has signed a long-term contract with Questar Gas, a natural gas distribution service provider, to upgrade its automated gas metering system. The utility will initially install 650,000 $ITRI gas communication modules to enhance its operational efficiency and improve service to customers.

$ITRI {{ '2017-06-06T20:24:39+0000' | timeago}} • Announcement

$ITRI has signed a contract with the Tonga Water Board, the water utility owned by the Kingdom of Tonga, to deliver its OpenWay Riva IoT solution for water. The water board will be using the existing OpenWay Riva network utilized by Tonga Power Limited to connect with static water meters.

$ITRI {{ '2017-06-01T17:27:40+0000' | timeago}} • Announcement

$ITRI has completed the acquisition of privately-held Comverge by purchasing its parent company, Peak Holding Corp., for around $100MM. The acquisition will strengthen Itron's portfolio of grid and customer experience solutions and pave the way for distributed energy management applications using the company's OpenWay Riva solution.

$ITRI {{ '2017-05-31T20:49:10+0000' | timeago}} • Announcement

Joan Hooper has been appointed as $ITRI SVP and CFO, effective June 5, 2017. She most recently served as the CFO of CHC Helicopter, a helicopter services company headquartered in Vancouver.

$ITRI {{ '2017-05-08T12:51:49+0000' | timeago}} • Announcement

$ITRI acquires privately held Comverge. Excluding acquisition and integration-related costs, amortization of acquired intangible assets and purchase accounting adjustments, the company anticipates the acquisition will be neutral to non-GAAP EPS in 2017 and accretive beginning in 2018.

$ITRI {{ '2017-05-08T12:50:34+0000' | timeago}} • Announcement

Technology and services company $ITRI acquires privately held Comverge by purchasing its parent company, Peak Holding Corp., in a cash transaction of approx. $100MM. The transaction is expected to close in 2Q17, subject to customary closing conditions.

$ITRI {{ '2017-03-28T14:22:16+0000' | timeago}} • Announcement

$ITRI said Mark Schmitz, EVP and CFO, will be stepping down from his position, effective immediately. Robert Farrow, VP, Strategic Planning & Treasury, will serve as interim CFO until the search for a permanent replacement is complete. Mr. Schmitz will remain available for one month to ensure a smooth transition during the 1Q17 accounting close.

$ITRI {{ '2017-01-05T17:35:02+0000' | timeago}} • Announcement

$ITRI signed a contract with Central Hudson Gas & Electric Corp., a transmission and distribution energy company and subsidiary of Fortis. Central Hudson will utilize $ITRI's managed services offering, Itron Total Outcomes, with Itron's cellular solution to support the energy company's "CenHub Insights " program.

$ITRI {{ '2016-10-06T14:22:35+0000' | timeago}} • Announcement

$ITRI said Otter Tail Power Co. signed a contract with it to modernize and improve the reliability of its electric grid. The utility will take advantage of $ITRI's Total Outcomes, a complete managed services offering using its technology and analytics to deliver needed outcomes.

$ITRI {{ '2016-09-08T13:56:55+0000' | timeago}} • Announcement

Technology and services company $ITRI said that the company has received a notification from The Nasdaq Stock Market, LLC stating that $ITRI has regained compliance with Nasdaq Listing Rule 5250(c)(1) requirement for timely financial filings. The compliance notification is dated Sept. 2, 2016.

$ITRI {{ '2016-09-02T07:33:02+0000' | timeago}} • Webcast

$ITRI reported lower 2Q16 free cash flow versus 2Q15, mainly due to some special one-time payments on taxes and prepayments on software programs. A one-time payment for settlement of the TransData litigation will be reflected in 3Q16 free cash flow. Company ended 2Q16 with $132MM in cash and $216MM in net debt.

$ITRI {{ '2016-09-02T07:32:00+0000' | timeago}} • Webcast

In 2Q16, $ITRI's Electricity segment revenue grew 16% in constant currency, helped by increased smart metering. Gas segment revenue grew 9% mainly due to record revenue in North America and Water segment revenue grew 3% due to increased smart metering projects in EMEA.

$ITRI {{ '2016-09-02T07:31:19+0000' | timeago}} • Webcast

In 2Q16, $ITRI's non-GAAP EBITDA improved by 9.3 percentage points to 10.1%, with 5 percentage points of improvement due to the special warranty expense last year. Non-recurring costs like audit, legal and other professional services cost was $9MM plus. Effective tax rate was 34.2% in the quarter.

$ITRI {{ '2016-09-02T07:30:25+0000' | timeago}} • Webcast

$ITRI extended its 10-K filing due to a rigorous approach to Vendor Specific Objective Evidence analysis of software and related revenue and costs in 2015 and prior years. The 2015 10-K filed on June 30 showed $0.73 non-GAAP EPS, $0.28 lower than the Feb. report, mainly due to a one-time legal settlement concerning TransData license.

$ITRI {{ '2016-09-02T07:24:36+0000' | timeago}} • Webcast

Technology company $ITRI's 2Q16 revenue grew 10% in constant currency, with revenue growth in all segments. Backlog at end 2Q16 was $1.3Bil, with $395MM of bookings in the quarter. In Aug., $ITRI announced a contract with Peoples Natural Gas in Pennsylvania to install 460,000 OpenWay Riva communications modules over next 5 years.

$ITRI {{ '2016-09-01T13:52:15+0000' | timeago}} • Announcement

$ITRI said certain projects will begin immediately and the company targets to substantially complete the activities by the end of 2018. $ITRI expects annualized savings of about $40MM upon completion of these projects. $ITRI expects to incur pre-tax restructuring charges of about $55-65MM related to these projects.

$ITRI {{ '2016-09-01T13:51:08+0000' | timeago}} • Announcement

$ITRI filed a Form 8-K announcing projects to restructure its operations. These projects will improve operational efficiency, reduce expenses and improve competitiveness. $ITRI expects to close or consolidate several facilities and reduce its global workforce as a result of the restructuring.

$ITRI {{ '2016-09-01T13:49:36+0000' | timeago}} • Announcement

$ITRI announced new restructuring projects to further reduce expenses through streamlining its global operations. The company expects to achieve additional annualized cost savings of about $40MM by the end of 2018 from these projects.

$ITRI {{ '2016-09-01T13:48:31+0000' | timeago}} • Announcement

$ITRI now expects FY16 revenue of $1.95-2.0Bil and non-GAAP EPS of $2.20-2.45. This guidance assumes current currency exchange rates for the remaining portion of the year, average shares outstanding of about 38MM for the year and a non-GAAP effective tax rate for the year of about 37%.

$ITRI {{ '2016-09-01T13:46:52+0000' | timeago}} • Announcement

$ITRI's gross margin for 2Q16 rose to 33.1% from 25.2% last year, with increases in all segments. The improvement was driven by lower warranty expense, favorable product mix and operational efficiencies. In 2Q15, $ITRI recorded warranty expense of $23.6MM in Water segment, which negatively impacted margin by about 500 points.

$ITRI {{ '2016-09-01T13:44:18+0000' | timeago}} • Announcement

Energy and water meter company $ITRI reported a 2Q16 profit of $19.92MM or $0.52 per share compared to loss of $14.35MM or $0.37 per share last year, on continued success with smart meters and progress on cost saving initiatives. Revenues grew 9% to $513.02MM. Non-GAAP EPS was $0.65 compared to a loss of $0.39 per share a year ago.

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