We are smart enough for the smart grid. Power meter maker Itron reported earnings that came in well ahead of analyst expectations as revenues more than doubled in North America as its Open Way meters powered half of the rise. It shipped 1.3 million units this quarter. Utilities like Exelon (NYSE: EXC) and Sempra Energy (NYSE: SRE) have been the driving force for distributing meters and advancing the smart grid concept.
Although international revenues were down this quarter, CAPS player mudwatters still sees them as part of the equation for Itron's future growth:
As the US and other countries modernize their power grids, smart meters will be an important part of the upgrade. Itron can expect to benefit from the upsurge in spending for years to come. Add Itron to your My Watchlist page to get all the Foolish news and analysis about it compiled in one place.