RALEIGH, NC - September 28, 2004
Sensus Metering Systems (Sensus), a leading provider of utility metering and AMR systems, has reached an agreement in principle with Advanced Metering Data Systems (AMDS), a wireless connectivity company based in New Orleans, LA. Under the terms of the pending agreement Sensus is granted exclusive rights for the North American electricity market to manufacture, market, and sell AMDS RF meter modules for the iCon™ solid-state electricity meter and retrofit AMDS meter modules for electromechanical electricity meters that link into the AMDS AMR (Automatic Meter Reading) fixed network.
The AMDS fixed network AMR system is based on a wireless network architecture that is simple, reliable, and easy to install and maintain. The patented technology uses a point-to-point AMR fixed network architecture with a targeted range of 5 – 10 miles. This type of performance eliminates the need for multiples of data collectors and provides for efficient and cost effective AMR system operation.
“We’re excited about having the opportunity to exclusively market and sell the AMDS AMR system,” says George Uram, V.P. Energy & AMR for Sensus. “This is a key addition to the Sensus AMR product portfolio that provides Sensus with an AMR product for the electricity market and complements our iCon solid-state electricity meter and our water and gas AMR systems.”
Advanced Metering Data Systems (www.AMDSWireless.com) is a remote meter monitoring and wireless connectivity company headquartered in New Orleans, Louisiana. AMDS provides automatic meter reading technology and monitoring services to electric, gas and water utilities using patented technology and a dedicated, FCC-licensed fixed wireless network.
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.