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News Release

Sensus Announces Fiscal Second Quarter 2011 Financial Results and Earnings Call

Solid Performance with Continued Margin Improvement

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 second quarter ended September 30, 2010.

Key Highlights for Fiscal Second Quarter 2011, year-over-year improvements

  • Total revenue of $203 million, even; metrology business revenue up 21 percent;
  • Gross profit margin of 28.2 percent, up 200 basis points; fifth consecutive quarter of year over-year increase;
  • R&D investment of 6.0 percent of net sales, up 70 basis points; Net loss of $4 million, improvement of $2 million;
  • Adjusted EBITDA of $20 million, down 17 percent; and More than 8 million SmartPoint™ devices installed and communicating, to-date.

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