LIBERTY LAKE, Wash. — November 18, 2008 — Itron Inc. (NASDAQ: ITRI) announced today that it is the recipient of Inland Business Catalyst magazine’s 2008 Business Excellence Award for Business of the Year.
Itron was judged for the award based on four categories—growth, accomplishments, community contribution and product innovation—of which it excelled in each. In terms of growth, Itron was recognized for its revenues and number of employees—both grew exponentially with Itron’s acquisition of Actaris in April 2007. Itron revenue jumped from $644 million in 2006 to over $1.46 billion in 2007. The number of employees climbed from nearly 2,300 to over 9,000 during the same period.
The panel was impressed with Itron’s strategic business development and product portfolio. Itron started in 1977 as a handheld data collection company and has evolved into a worldwide provider of electricity, gas and water meters, automated meter reading (AMR) and advanced metering infrastructure (AMI) systems; meter data management and related software applications; and a host of professional services for utilities.
Itron was also recognized for its contribution to the Inland Northwest business community. At its headquarters in Liberty Lake, Wash., Itron has more than 600 employees from the surrounding area including Spokane, Wash., and parts of Northern Idaho. Nationwide, the company donates over $500,000 annually, supporting over 200 non-profit organizations.
Innovation was also a key consideration. As the leading worldwide meter supplier, Itron was commended for extending its creativity across the technology it employs, the processes it uses and the decisions it makes. One noted example—Itron’s enhancement of its meter platform, enabling customers to use energy and water more efficiently and effectively by providing more detailed and timely information about usage.
“In the magazine’s commendation of Itron, our company was praised for growing by leaps and bounds with a voracious appetite to position ourselves as the company the world needs to help manage three of its most important resources: water, electricity and gas,” said LeRoy Nosbaum, Itron chairman and chief executive officer. “It’s very gratifying to be recognized for the global work we’re doing with utilities to discover new paths to energy independence, protect our diminishing natural resources and enable a more green environment. We are thankful to have received this award.”