October 27, 2010 in Business, News

Liberty Lake’s Itron sees record revenue

By The Spokesman-Review
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Liberty Lake tech firm Itron, Inc. on Wednesday said its third quarter sales and nine-month revenue soared to record levels.

The maker of meters and software for utilities said its quarterly sales were $576 million, compared with $408 million from the third quarter of 2009. Nine-month sales were $1.6 billion, compared to $1.2 billion from the nine months the year before.

Itron also said it has a 12-month backlog of $958 million and a total order backlog of $1.7 billion.

“Our growth this quarter has been driven by our smart solutions for electric, gas and water utilities,” Itron CEO Malcolm Unsworth said in a release.

“Our global backlog remains robust thanks to our balanced portfolio of products. We are excited about the potential for additional projects in North America and very pleased to see the continued momentum in Europe and other parts of the world towards the adoption of smart technologies,” he said.

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