RALEIGH, NC - August 2, 2010
Sensus, a leading technology company providing energy and water utility customers worldwide with innovative conservation products and services, today announced financial results for the fiscal first quarter ended June 30, 2010.
Key Highlights for Fiscal First Quarter 2011, year-over-year improvements
- Record fiscal first quarter revenue of $226 million, up 13 percent;
- Net income of $2 million, up more than 100%;
- Record fiscal first quarter Adjusted EBITDA1 of $30 million, up 3 percent;
- Gross profit margin of 28.2 percent, up 100 basis points;
- R&D investment of 5.3 percent of net sales, up 80 basis points;
- Cash on hand of $31 million, up 12 percent; and
- More than 7 million SmartPoint™ AMI devices installed and communicating, to-date.
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