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Itron, Inc. Message Board

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  • lonworkcharlie lonworkcharlie Sep 29, 2011 2:38 PM Flag

    Wunderlich Lowers PT on Itron to $22

    Well first of all Echelon doesn't sell AMR, they are a control networking company so they are AMI all the way. Second, I know how frustrating it is when an analyst comes in and spoils the party and downgrades your price target, but many times they can be pretty accurate. You need to go back and look at their track record for these sorts of calls.
    Itron has traditionally been strong in North America but has had a difficult time expanding into international markets where they compete against Echelon w/PLT, Landis & Gyr, and Elster. While today's pr from Itron gives them a lot of hope they can land part of the deal there are other players here at work too. Echelon has done a 90K meter pilot in France since 2008 and their track record for reliability and performance are unmatched in the industry. Plus, Enel does a lot of business in France and has a long history with Echelon and has an executive on the Echelon board.

    Project Includes First Sell-Back of Solar Produced Electricity in France Using NES Meter

    (San Jose, CA -November 5, 2008) - Echelon Corporation (NASDAQ: ELON) announced today that the Group of Electricity Distributors in France (GAELD), a consortium of electricity distributors, has chosen Echelon's Networked Energy Services (NES) System for up to 90,000 homes. The project, awarded to Echelon partner Alter Way, is expected to begin within the next few months and to be completed by 2013. In the past two months the NES system has gained momentum across Europe, including projects in Germany, Denmark, and now France.

    One of the utilities in the GAELD consortium, Régie d'électricité de Loos, is allowing homeowners to sell back solar produced electricity to the utility. They are doing so using the ability of NES meters to measure the amount of electricity produced separately from the energy consumed, as opposed to simple "net metering" in which the details of production versus consumption are lost, making this the first instance of Echelon's meter to be used in an alternative energy application in France.
    Echelon's NES IEC Meter
    Click image to enhance or reduce.

    "We chose Echelon's NES system because we believe it is the most advanced, flexible, and cost-effective metering infrastructure solution available. The NES system provides a solid, reliable backbone for our smart metering system, and integrates easily with software and solutions from other providers, ensuring us that we're installing a truly future-proof solution," said Michel Fruchart, managing director, GAELD. "While the French market has many unique requirements, because of its flexible design the NES system can be adapted to our market without a costly and time consuming effort, giving us a solution that is available and deployable today and that we expect will meet our needs for years into the future. We believe that it will allow us to extend our system based on future needs and offerings we might want to provide to our customers at a later date, such as prepayment, remote reading of both gas and water meters, and in-home services."

    "We are excited to increase our position in the French market, which has traditionally been difficult to enter due to strong local competition. We believe our success here, and recently in other countries such as Germany and Denmark, is a reflection of the growing awareness among utilities of the benefits that the NES system, together with ‘smart grid' applications, bring to their operations," said Frits Bruggink, Echelon's senior vice-president and general manager, service provider group.

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    • lonworks: You do realize that the article you referenced is from 2008...right? It seems that an investor may want more up-to-date information...such as the announcement of the 35M French opportunity that came out yesterday.

      (lonworks): "...has chosen Echelon's Networked Energy Services (NES) System for up to 90,000 homes."

      Hmmmm, so Echelon might get 'up to 90,000' homes in France. The contract that Itron is working on is for 35M homes. If you where an unbiased observer, which opportunity appears to be the better of the two: 90,000 network nodes or 35,000,000 meters/network nodes/system software?

      (lonworks): "Itron has traditionally been strong in North America but has had a difficult time expanding into international markets..."

      Per Itron Q3-2010 report:

      LEADING GLOBAL METER SUPPLIER: #1 in combined market share for electricity, gas and water

      LEADING SOFTWARE SUPPLIER: ~ 35% of Meter Data Management systems around the world, #1 in market share

      Given this information, how do you support your claim that "Itron has...had a difficult time expanding into international markets.."? Have you done ANY research at all on Itron...or are you simply making things up? Clearly you are 100% pro Echelon, so what is your point of posting outdated information and incorrect claims on the Itron MB?

 
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