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Investing

ITRI: Itron Lands Big Meter Order

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

By William Trent, CFA of Stock Market Beat

We’ve already talked about Itron’s (ITRI) plans to grow through acquisition. Now we see an example of their organic growth/

Itron Lands Largest-Ever International SENTINEL(R) Meter Order

Itron (NASDAQ:ITRI) announced today it has received an order from Mexico’s Comisión Federal de Electricidad (CFE), for 25,000 SENTINEL solid-state electricity meters. CFE is Mexico’s largest electric utility – covering the whole of Mexico – with more than 20 million customers and 163 power-generating plants.The agreement represents Itron’s largest-ever international sale of the highly successful SENTINEL meter. Beyond the initial 25,000 meters, CFE also has the option to purchase an additional 37,000 units over the next year.

Make no bones about it: automatic meter reading will be a long-term upgrade cycle, and the fact that a company with a market cap under $2 billion is one of the leaders means a great long-term opportunity for the stock, despite the hiccups they are bound to face along the way.

http://www.stockmarketbeat.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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