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News Release

Sensus Announces Fiscal Fourth Quarter 2010 Financial Results

Record Revenue and Profitability and New Accounting Standards Adopted

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 fourth quarter and full-year ended March 31, 2010.

Key Highlights for Fiscal Fourth Quarter 2010, year-over-year improvements

  • Record quarterly revenue of $260 million, up 26 percent;
  • Record quarterly Adjusted EBITDA of $48 million, up 61 percent;
  • Gross profit margin of 31.4 percent, up 430 basis points;
  • Record backlog of $134 million, up $10 million;
  • Record cash on hand of $59 million, up 56 percent;
  • Over 6 million electric, water and gas SmartPoint™ AMI devices shipped to-date.

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