RALEIGH, NC - March 3, 2008
Sensus Metering Systems announces today that the company is experiencing unprecedented demand from the utility industry for its AMI Services and the FlexNet solution.
Sensus, a leading global provider of high-value utility metering systems, contracted for more than 7 million water, gas, and electric FlexNet AMI endpoints in 2007, while delivering 1.2 million additional water, gas, and electricity endpoints.
“We learned from our customers that a major contributing factor to their selecting FlexNet was the system’s ability to cover dense urban as well as sparse rural areas,” explains Chief Technology Officer H. Britton Sanderford, Jr. “This flexibility allows for a reduction in planning, capital, training, and maintenance costs, as well as the simplification of MDMS (Meter Data Management Systems) requirements.”
Sanderford notes that the overwhelming industry acceptance of FlexNet also came very quickly, given that FlexNet only entered the AMI market in early 2006.
Other 2007 growth-oriented notes of interest include Sensus implementing 50 FlexNet water projects; signing three major Investor-Owned Utility gas projects; and delivering 50,000 endpoints to one FlexNet gas customer.
Sensus leadership also used 2007 to restructure the company to enhance prioritization on management, delivery, manufacturing and software development.
Doug McCall, Director of AMI Marketing at Sensus attributes this unprecedented success to FlexNet’s ability to achieve the utility’s business goals in an AMI implementation, “Our utility customers told us the features they want in an AMI system, and we have delivered. By establishing the instrument for energy management and the backbone of the smart grid, the FlexNet solution provides a simple and affordable architecture to fully realize all the benefits of AMI.”
FlexNet provides the utility industry’s most reliable and flexible two-way AMI fixed network. Utility customers benefit from the dependable, mission-critical performance of a dedicated, primary-use, FCC licensed and protected communications network combined with ANSI compliant metering, IP-based wide area communications, open standards home area networking, advanced smart grid products, and IP-based information systems. Sensus delivers timely and accurate AMI communications through crystal-clear and massively redundant RF data paths with double the RF power of competing systems. This empowers utilities to communicate with a complete range of endpoint devices including smart water, gas and electric meters, intelligent home devices, and distribution automation equipment in any mix of rural and urban terrain. Forward-thinking utilities confidently choose FlexNet to provide a single-technology solution that reduces cost, mitigates technology risk, enables pricing flexibility and demand response, and improves operational efficiency through reliable performance, industry standards, cross-vendor compatibility, system scalability and future-proof operation.
About Sensus Metering Systems
The Sensus Metering Systems companies are leading world-class providers of water, gas, heat and electric meters including comprehensive metering communications system solutions that comprise both automatic meter reading (“AMR”) and advanced metering infrastructure (“AMI”) systems. Additional linked businesses include Smith-Blair, Inc. a leading provider of pipe clamp & coupling products for the water, gas, and industrial markets; and Sensus Precision Die Casting a producer of complex, high quality die castings.
All statements in this release, other than historical facts, are made in reliance on the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are subject to change at any time. These statements reflect the Company’s current expectations regarding its financial position, revenues, cash flow and other operating results, business strategy, financing plans, forecasted trends related to the markets in which the Company operates, legal proceedings and similar matters. The Company’s expectations expressed or implied in these forward-looking statements may turn out to be incorrect. The Company’s actual results could be materially different from its expectations because of various risks. These risks, some of which are discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K (SEC File No. 333-113658) for the fiscal year ended March 31, 2007 as filed with the Securities and Exchange Commission on May 16, 2007, include its dependence on new product development and intellectual property, and its dependence on independent distributors and third-party contract manufacturers, automotive vehicle production levels and schedules, its substantial financial leverage, debt service and other cash requirements, liquidity constraints and risks related to future growth and expansion. Other important risks that could cause actual events or results to differ from those contained or implied in the forward-looking statements include, without limitation, the Company’s ability to integrate acquired companies, general economic and business conditions, competition, adverse changes in the regulatory or legislative environment in which the Company operates, and other factors beyond the Company’s control.