RALEIGH, NC - September 27, 2004
Sensus Metering Systems and Cannon Technologies e now in full production of the two-way MCT 410iL power line carrier transponder integrated with the award-winning iCon solid-state, single-phase residential meter. Cannon Technologies’ iCon-based MCT 410iL brings an expanded feature set to the EMETCON™ power line carrier-based fixed network, and the iCon’s unique two-board design and open architecture allowed for the MCT 410iL to be quickly and seamlessly integrated into the meter.
In addition to reliable and cost-effective metering communication, Cannon’s EMETCON AMR solution also offers distribution automation and load management, all over a single power line carrier system. The fast, proven technology provides on-demand meter reads in 4-6 seconds round trip. Other features include 150 days of on-board load profile, 7 days of 5-minute voltage profile, power interruption monitoring with time, date, and duration stamp, voltage threshold alerts, time-stamped peak demands, advanced TOU with remote programming and critical peak capability, and freeze registers for both energy and voltage.
“We are excited to have the integration complete and to see such a positive response from our customers,” said Bill Simons, Cannon Technologies’ Director of AMR Systems. “With over 250 EMETCON systems in place, the new 410 capability coupled with the accuracy of the iCon has convinced existing clients to expand their deployment areas. Sales to new customers have also been very strong, and we expect them to continue at a steady pace. We are certainly pleased with the decision to partner with Sensus to provide this quality solution to the marketplace.”
“We literally had orders for this product before the integration was complete,” aid Doug McCall, Director of Sales for Sensus Metering Systems. “We are pleased to announce that we are now in full production, having successfully manufactured and shipped iCon meters with the MCT 410iL over the last month. We look forward to our continued partnership with Cannon and the expansion of our meter line to include additional meter forms with Cannon’s integrated quality AMR solutions.”
About Cannon Technologies
Cannon Technologies was founded in 1987 to deliver software for load management and automated distribution to electric utilities. Today, Cannon Technologies’ customers include nearly 400 electric utilities in nearly every US State. Their systems are used by many of the country’s largest utilities to manage peak load, improve system power factor and improve substation reliability. Cannon Technologies has systems at utilities of all sizes and has a staff of seasoned professionals who are expert in the field of power systems, metering and energy management. For more information, please visit www.cannontech.com.
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.