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LIBERTY LAKE, Wash.--(BUSINESS WIRE)--Itron, Inc. (NASDAQ: ITRI), a world-leading technology and services company dedicated to the resourceful use of energy and water, announced today that it has signed a definitive agreement to acquire privately held Comverge by purchasing its parent company, Peak Holding Corp., in a cash transaction valued at approximately $100 million. The acquisition combines a world-leader in gas, water, electricity and smart cities solutions with a longtime leader of demand response, which expands the scope of smart grid offerings for the industry. “The acquisition of Comverge enables Itron to offer a unique solution set that brings Comverge’s demand management solutions to the edge of the network using OpenWay Riva’s edge intelligence and processing capabilities. This will enable utilities to better integrate distributed energy resources and optimize grid performance and reliability. With this acquisition, we are delivering even more value for our customers on top of industry-leading AMI and smart grid solutions enabling a robust, active grid,” said Philip Mezey, Itron’s president and chief executive officer. Comverge is an industry-leading provider of integrated cloud-based demand response, energy efficiency and customer engagement solutions that enable electric utilities to ensure grid reliability, lower energy costs, meet regulatory demands and enhance the customer experience. Through its combination of software, hardware and services, Comverge helps utilities optimize every aspect of a demand management program, from participant recruitment and device installation to call center support, control events, and measurement and verification. Comverge has enrolled and deployed nearly 3 million energy management devices into mass market demand management programs. In 2016, the company generated $60 million in revenue. “There are tremendous opportunities that exist, between our technologies, operations and customer relationships. The combination of Comverge and Itron is beneficial for both companies and, most importantly, to our employees and customers,” said Gregory Dukat, Comverge’s chairman, president and chief executive officer. “We’ve spent the last several years successfully pivoting from a hardware-oriented demand response company to a software and services company focused on delivering increased value to our customers. By integrating with Itron’s platform, we create a more compelling offer that leverages data and analytics to optimize the management of distributed energy resources, delivering even greater customer value.” Excluding acquisition and integration-related costs, amortization of acquired intangible assets and purchase accounting adjustments, the company anticipates the acquisition will be neutral to non-GAAP earnings per share in 2017 and accretive beginning in 2018. The transaction is expected to close in the second quarter of 2017, subject to customary closing conditions. Itron will host a webcast on May 8, 2017, at 12:00 p.m. EDT to discuss this transaction. The call will be webcast in a listen-only mode. The webcast and presentation materials will be made available 10 minutes before the start of the call and will be accessible on Itron’s website at http://investors.itron.com/events.cfm. A replay of the audio webcast will be made available at http://investors.itron.com/events.cfm. A telephone replay of the conference call will be available through May 13, 2017. To access the telephone replay, dial (888) 203-1112 (Domestic) or (719) 457-0820 (International) and enter passcode 2028923. Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water. We provide comprehensive solutions that measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement devices and control technology; communications systems; software; as well as managed and consulting services. With thousands of employees supporting nearly 8,000 customers in more than 100 countries, Itron applies knowledge and technology to better manage energy and water resources. Together, we can create a more resourceful world. Join us: www.itron.com. Itron® and OpenWay® are registered trademarks of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. This release contains forward-looking statements within in the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our expectations about revenues, operations, financial performance, earnings, earnings per share, cash flows, the closing of the Comverge transaction and synergies related to the Comverge acquisition and its integration. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Some of the factors that we believe could affect our results include our ability to close the Comverge transaction, our ability to execute on the integration of Comverge, our ability to achieve estimated synergies, the market for Comverge’s products and other factors that are more fully described in our Annual Report on Form 10-K for the year ended December 31, 2016, and other reports on file with the Securities and Exchange Commission. Itron undertakes no obligation to update or revise any information in this press release. To supplement our consolidated financial statements presented in accordance with GAAP, we use certain non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, adjusted EBITDA margin, constant currency and free cash flow. We provide these non-GAAP financial measures because we believe they provide greater transparency and represent supplemental information used by management in its financial and operational decision making. We exclude certain costs in our non-GAAP financial measures as we believe the net result is a measure of our core business. The company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. Our non-GAAP financial measures may be different from those reported by other companies. A more detailed discussion of why we use non-GAAP financial measures, the limitations of using such measures, and reconciliations between non-GAAP and the nearest GAAP financial measures are included in our 10-K for the year ended Dec. 31, 2016.


Major Exhibiting Themes--Intelligent & Electrified--are among focuses of these new technologies TAIPEI, Taiwan, April 26, 2017 /PRNewswire/ -- One highlight in the 2017 TAIPEI AMPA / AutoTronics Taipei, the largest auto-parts show in Taiwan and a leading one of its kind in Asia, held from April 19-22, 2017 in Taipei, is the eye-catching technology R&D achievements showcased by Taiwan Automotive Research Consortium (TARC). This year, the major exhibiting themes of the "TARC Pavilion", a 20-booth special zone located at L0618, 4F, Nangang Exhibition Center, are "Intelligent & Electrified".  The opening ceremony of the TARC Pavilion in the 2017 TAIPEI AMPA/AutoTronics Taipei show was attended by many VIPs, including this year’s host Joe Huang (fifth from right), TARC committee chairman and president of ARTC. (photo from TARC) TARC, the most-important automotive-technology R&D platform in Taiwan, exhibited a total of 21 new technologies/products; plus the "Experiencing Autonomous Technology" reality demo, in the annual show. The "Experiencing Autonomous Technology" lets the general public on-site experience an autonomous vehicle equipped with homegrown ADAS (Advanced Driver Assistance System) technologies onboard passing through 10 automated-driving circumstances. The Experiencing activity is hosted at the Nangang Exhibition Center MRT Station Exit, next to the show venue, during the full show period. The 10 ADAS technologies demonstrated is an clear indicator of the last mile before Taiwan's mature capability in autonomous vehicle to be put on-road. Eye-catching Exhibits to Draw Int'l Attentions Statistics compiled by market research firm IHS showed that there will be a boom for autonomous vehicles in the period between 2025 and 2035, when annual global sales of such vehicles are forecasted to top some 21 million units. TARC well-planned this year's exhibiting themes, Intelligent & Electrified, for the TARC Pavilion, anticipating showcasing the "21+1" latest R&D achievements developed by consortium members, including Automotive Research and Testing Center (ARTC), Metal Industries Research & Development Centre (MIRDC), Mechanical and System Research Laboratories (MSL) of Industrial Technology Research Institute (ITRI), Material and Chemical Research Laboratories (MCL) of ITRI, the National Chung-Shan Institute of Science and Technology (NCSIST), and their private-company partners. Among these advanced technologies and products, several highlights draw intensive attentions from international visitors, such as the Vision Based Forward Object Detection System; Cooperative Vehicle Positioning System; Driver Simulator; Long-distance Floating Multi-screen HUD; Belt Starter Generator; Demonstration of Practical Operation of Cloud Real-Time Management Technology to Electric Vehicles; Lightweight Modular Vehicle Frame etc. In addition, the heavy-weight experiencing activity organized by ARTC is the first of its kind in Taiwan, letting the general public practically experience various homegrown ADAS technologies on an evolutionary-version autonomous vehicle.   TARC's Vital Role Joe Huang, TARC's committee chairman and president of ARTC, notes that in conjunction with the rapid development and advancement of sensor fusion, deep neural networks for image recognition, connected vehicle etc. technologies, various electronics and assist systems are counting for an increasing higher share in a vehicle's overall cost. Through the support from the Technology Development Program of Department of Industrial Technology (DoIT), Ministry of Economic Affairs, Huang continued, TARC has been devoting into promoting Taiwan's vehicle-industry development and upgrading. The automotive-technology R&D platform, he adds, has also been continuously integrating available resources in the government, academia, research institutes, and industry to promote related technology advancement; as well as striving to help local companies grab more lucrative business opportunities in the international market through technical/technological transfer (to private makers) and TARC's global connections to the industry. Huang stresses that he welcomes all global visitors to pay a visit to the TARC Pavilion for witnessing latest, heavy-weight R&D achievements developed by the industry alliance. Must-see R&D Achievements at TARC Pavilion At the TARC Pavilion, international visitors are invited to witness the latest intelligent and electrified technologies, including several highlighted exhibits below: "Experiencing Autonomous Technology" "Experiencing Autonomous Technology" is not a single exhibit, but a reality demo of Taiwan's ongoing development of various autonomous-driving technologies. Sitting on an electric golf cart running at the demo ground, you can experience 10 circumstances of an autonomous vehicle, including: auto  picking, lane following, intelligent human-machine interface, mobile-phone wireless charging, pedestrian detecting & autonomous emergency braking, lane changing, traffic-sign detecting, object detecting, auto parking and EV wireless charging. Vision Based Forward Object Detection System The vision (camera)-based Forward Object Detection System real-time detects front pedestrians, motorcycles and bicycles, other vehicles, and various types of obstacles etc. Cooperative Vehicle Positioning System A novel vehicle positioning system that integrates multiple positioning-enhancing systems to constitute the cooperative vehicle positioning technology, which can provide high-precision (within-30cm accuracy) and -- stability information of different sensors to meet requirements from autonomous vehicles. Driver Simulator The simulator builds up the needed test circumstances and scenes for ADAS, including vehicle physics model and simulated signals of related interfaces, simulated control algorithms and models etc.; effectively shortening development time by 30% to 50%, as well as reducing costs for vehicle makers, while upgrading product-design reliability. Long-distance Floating Multi-screen HUD With the core laser micro projection technology and the innovative long-distance floating light-path design, all traffic information can be projected in front of the car windshield 2 meters away, reducing the risk of driver's eye fatigue and distraction. The triple display of navigation map, AVM, and driving information can let the driver get all traffic information under the safeties condition. Belt Starter Generator (BSG) The BSG replaces the traditional engine alternator with an electric motor that serves as a generator and a starter motor; can simultaneously have the stop-start and power-assist functions and help cut 20% emission than traditional combustion-engine vehicles. Demonstration of Practical Operation Of Cloud Real-Time Management Technology to Electric Vehicles The technology is applied to real-time monitor in-operation medium- and low-speed EVs powered by used lithium batteries; indicating each in-operation EV's battery-pack healthiness, residual mileage, location, system conditions, accumulated mileage etc. Lightweight Modular Vehicle Frame The aluminum-alloy light-weight platform structure can effectively cut vehicle weight and extend cruise range by 15% or more. It also features modularized design, slip joint concept etc. advanced advantages, and can be applied to the development of various types of vehicles. All the above-mentioned exhibits in static or interactive demonstration, as well as many others, will be showcased under one roof once at the TARC Pavilion during the 2017 TAIPEI AMPA/AutoTronics Taipei show period. Don't miss the chance to experience the coming of autonomous vehicle technologies. 2017 TARC Achievement Showcase Video: https://youtu.be/ka7K1rS2Q5Y About Taiwan Automotive Research Consortium (TARC) To promote Taiwan's automotive industry development and strengthen international exchanges and cooperation, the Department of Industrial Technology (DoIT) of the Ministry of Economic Affairs (MOEA) urged four research institutes to establish the TARC in mid-2005. Currently, six members of the consortium are: Automotive Research and Testing Center (ARTC), Mechanical and System Research Laboratories (MSL) of Industrial Technology Research Institute (ITRI), Material and Chemical Research Laboratories (MCL) of ITRI, Metal Industries Research & Development Centre (MIRDC), the National Chung-Shan Institute of Science and Technology (NCSIST), and Hua-chuang Automobile Information Technical Center Co. Ltd. (HAITEC). The TARC aims to establish an integrated platform for automotive technological R&D; help the domestic industry to set up concurrent engineering design platform through international cooperation and technology transfer; and work with local universities to train personnel to set up a platform for innovative research. In recent years, the TARC has been integrating major industrial research institutes and technologies to develop EVs and key systems, as well as advanced automotive-electronic systems. CONTACT: ARTC Stone Su    Email: stone@artc.org.tw Quincy Liang   Email: quincy7243@gmail.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tarc-showcases-211-heavy-weight-autonomous--ev-rd-achievements-in-2017-taipei-ampaautotronics-taipei-show-300446052.html


Acer, ASUS, Advantech, Planet and VIVOTEK to lead the showcase of technologies and innovation around AI, green energy and smart cities, and IoT This year marks the debut participation of the Taiwan Excellence Pavilion at CommunicAsia 2017. Companies like Acer, Advantech, ASUS, Planet and VIVOTEK, and 14 Taiwan Excellence Award winning brands will be showcasing their latest technologies and innovations in the areas of artificial intelligence, green energy and smart cities, and the Internet of Things (IoT) at the upcoming three-day exhibition slated 23-25 May, at the Marina Bay Sands, BQ2-01, B2. According to Taiwan External Trade Development Council (TAITRA), the international trade development arm of Taiwan, the event is an avenue to promote Taiwan's leadership in cutting edge technologies and to foster knowledge exchange and deeper partnership with customers, fellow innovators and members of the larger ICT industry. Taiwan is the 5th largest economy in Asia and currently ranks 10th globally in innovation and 15th in global competitiveness. It has been an indispensable player in the world's high technology sector dominating the global semiconductor market for the past three decades. The country produces three-quarters of the world's integrated circuits and electronic components and accounts for a considerable share of the global computer hardware, and mobile phones. Taiwan is forging its path from being a manufacturing efficiency-focused to an intellectual property- and innovation-driven economy. "Today's ongoing transformation and changing business models calls for a greater emphasis on innovation. We believe our Taiwanese innovators are well positioned in leveraging Taiwan's technological prowess, strong synergies with the global technology supply chain, and proven strengths in speed, value, flexibility and customization. We are proud of the success stories of companies such as Acer, ASUS, Advantech, Planet and VIVOTEK among others and we proudly present what Taiwan has to offer to the larger ICT industry at CommunicAsia," said Francis Liang Kuo-Hsin, Representative, Taipei Representative Office in Singapore. One of the key programs under Taiwan's "5+2 Industrial Innovation Plan" is the Asia.Silicon Valley initiative, which aims to establish Taiwan as the hub between the region and Silicon Valley particularly in IoT development, and making the country a global centre for tech entrepreneurship. Taiwan has made inroads with Microsoft and Qualcomm choosing to launch their IoT research centers there. "We also now have over 140 companies and organizations that have joined the Asia.Silicon Valley IoT alliance including the likes of Acer and Advantech who are showcasing their IoT capabilities at the Taiwan Excellence Pavilion. Through CommunicAsia, we hope to be able to reach not only our trading and technology partners but also to encourage talents from Southeast Asia who are looking into opportunities to join Taiwanese companies at some of today's emerging sectors," said Mr. Liang. Taiwan Excellence Pavilion will feature products and technologies that have been distinguished with the 'Taiwan Excellence Award', the highest accolade bestowed upon Taiwan-originated products based on their excellence in design, quality, marketing, Taiwanese R&D, and manufacturing. At Asia's premier sourcing and ICT knowledge platform, 19 Taiwan Excellence brands including Acer, Advantech, ASUS, Aver, Beseye, D-link, Edimax, Inwin, Kingmax, LWO, MSI, Planet, Plustek, PX, Sapido, Thermaltake, Transcend, uHandy and VIVOTEK will feature 50 innovative products at the Taiwan Excellence Pavilion over the three-day show. Taiwan Excellence 2017 Showcase Highlights - Acer Acer's abPBX is a revolutionary alternative that takes the approach of a software-defined communication service (SDX). It also offers a major advancement in manageability and security, while lowering total cost of ownership. - ASUS The ESC8000 G3 is the first VCA certified GPU server from Nvidia. Users can enjoy improved efficiency, scalability and performance in a single platform that decreases their time to market and costs. - Advantech Advantech WebAccess/Cloud is a cloud-based software platform that supports MQTT protocol and provides plug-and-play capability that enables big data analysis for Industry 4.0 services. - VIVOTEK The H.265 VAIR Long Range Speed Dome Camera is the latest professional speed dome camera from VIVOTEK that is specifically designed to enhance low light surveillance over areas that require large coverage. - Planet Based on its green technology, Planet's Renewable Energy Industrial 802.3at PoE Managed Ethernet Switch can be charged via the inexhaustible and natural sources of solar, wind and hydroelectric power. It can especially be used for expansive locations, such as dams, forests, deserts, national parks, nature and animal protected areas, and highways. - Industrial Technology Research Institute of Taiwan (ITRI) NSOS (next-generation system software for smartphone) is designed to increase the added value of commodity Android phones by solving the BYOD (bring your own device) security problem via virtualization, providing more personalized services via accurate inference of dynamic user interest, and offering more streamlined user experiences via programmatic app control. About the Taiwan Excellence Award The symbol of Taiwan Excellence honors Taiwan's most innovative products that provide tremendous value to users worldwide. All products carrying this symbol have been selected for specific Taiwan Excellence Awards based on their excellence in design, quality, marketing, Taiwanese R&D, and manufacturing. Initiated by Taiwan's Ministry of Economic Affairs (MOEA) in 1992, the symbol of Taiwan Excellence is recognized in 100 countries. Supported by Bureau of Foreign Trade (BOFT), MOEA The Bureau of Foreign Trade (BOFT) under the Ministry of Economic Affairs (MOEA), R.O.C. is responsible for implementing policies and regulations governing foreign trade and economic cooperation. Established in January 1969, the BOFT's role and position have been adjusted regularly to meet the needs of the ever changing international economic and trade environments. The BOFT has been guiding and working with the Taiwan External Trade Development Council (TAITRA) in numerous promotional trade projects and activities both internationally and domestically. Having worked closely with TAITRA for many decades, the BOFT continues to commission TAITRA for various critical government projects relating to business, trade and investment, while promoting Taiwan internationally. Organized by Taiwan External Trade Development Council (TAITRA) Founded in 1970 to help promote foreign trade, the Taiwan External Trade Development Council (TAITRA) is the foremost non-profit, semi-governmental trade promotion organization in Taiwan. Jointly sponsored by the government, industry associations, and several commercial organizations, TAITRA assists Taiwanese businesses and manufacturers with reinforcing their international competitiveness and in coping with the challenges they face in foreign markets. TAITRA boasts a well-coordinated trade promotion and information network of over 1,200 international marketing specialists stationed throughout its Taipei headquarters and 50 offices worldwide. Together with its sister organizations, the Taiwan Trade Center (TTC) and the Taipei World Trade Center (TWTC), TAITRA has created a wealth of trade opportunities through effective promotion strategies. For Media Enquiries TAITRA Ya Hsing Lu Strategic Marketing Department, TAITRA HP: +886 2 2725 5200 #1386 Email: PRecious Communications for TAITRA Melinda Ilagan Tel: +65 6303 0567 Email: Topic: Trade Show or Conference Sectors: Telecoms, Media, Enterprise IT, Mobility/Wireless, Broadcast, Digital http://www.acnnewswire.com From the Asia Corporate News Network


The Market for Medium and Large Hybrid and Pure Electric Buses will be Over $165 Billion in 2027 Industrial and commercial electric vehicles will be a similar market to cars but innovating faster and frequently more profitable for all in the value chain. The most important sector is buses, the subject of this report, where innovation often comes before cars because they are less price sensitive. In this report we show how the Chinese are now dominating the league table, buying the most buses and innovating rapidly already creating the lowest cost base by far. We examine the different power trains and the move from chassis to integrated manufacture often with no chassis and later structural electronics as bodywork will come. Technological roadmaps show the rapid innovation coming in the next decade and regional and technology sales are forecasted to 2027. Well over 100 hybrid and pure electric bus manufacturers are appraised and regional trends revealed. Based on extensive interviews, conferences and searches in 2015-6 this unique report is the only up to date in depth appraisal of the issues and trends including a detailed look at fuel cell buses over nearly three decades identifying why further delays are risking the window of opportunity for them closing as the greener, more efficient pure electric buses prove fit for prime time and over one quarter of one million e-buses are purchased in 2026 due to both legal push and market pull. Forecasts are for number, unit price and market value 2017-2027 by region, powertrain and pure electric vs hybrid. Over 8t and under 8t are analysed in the 265+ pages of original summary and analysis, easily grasped by those with limited time. The information has been appraised by our PhD level analysts with long experience and an intensive program of travel to check out the facts. Worldwide, over 100 manufacturers and many recent interviews are covered including EV events in Japan, Taiwan, the USA, UK and Germany in the last few months. This is essential because the subject is moving so fast with the strong technologies, regions, manufacturers etc changing rapidly. Key Topics Covered: 1. EXECUTIVE SUMMARY AND CONCLUSIONS 1.1. Overview 1.2. Summary of technical preferences 1.3. Statistics issues 1.4. Successful pure electric buses vs addressable market 1.5. Chinese price/performance 1.6. Projection with key orders, technology timelines 1.7. Electric bus >8t forecast by powertrain 2017-2027, number, unit value, market value 1.8. Forecast by territory for buses >8t for APAC, NA, Europe, other 1.9. Market forecast for electric buses 1.10. Market forecast for electric buses 1.11. Cost trends - China ready to pounce 1.12. Market drivers and impediments 1.13. Regional differences 1.14. China, India and cities 1.15. Radical change 1.16. Truly global market for similar buses 1.17. Large pure electric buses: first big orders 2014/5 1.18. Weak trend to larger buses but not in China 1.19. Value chain and powertrain 1.20. Hybrids becoming pure electric 1.21. Relative importance of technical options 1.22. Technology disagreement 1.23. Fuel cell buses: progress and potential 1.23.1. Use of solar on hybrid fuel cell shuttle buses 1.24. Background statistics: automotive industry and buses in general 1.24.1. Automotive industry 1.24.2. School buses 1.24.3. Largest bus manufacturers 1.24.4. Review of 2012-2014 1.25. Effect of 2015 oil price collapse on electric vehicles 1.26. E-bus news in 2016 1.26.1. Autonomous shuttles in Switzerland - June 2016 1.26.2. Disruptive new bus concepts in 2016 1.26.3. BYD expand electric vehicle plant in the US - September 2016 1.26.4. Lohr linked microbuses - September 2016 1.27. Buses will be taxis will be buses 1.28. The Bus of the Future 2. INTRODUCTION 2.1. Urban logistics trends 2.2. The move to electric 2.3. Motor technology by type of vehicle 2.3.2. Switched reluctance motors a disruptive traction motor technology? 2.3.3. Three ways that traction motor makers race to escape rare earths 2.4. Choice of lithium-ion batteries 2.4.1. 142 lithium battery manufacturers: chemistry, format, sales successes 2.5. Global situation: some recent highlights 2.6. North America 2.6.1. Proterra E2 logs over 600miles on a single charge - September 2016 2.7. Europe 2.7.1. UK 2.7.2. Germany 2.7.3. Sweden, Switzerland 2.7.4. ABB intermittent overhead charging 2.7.5. Turkey 2.8. Asia Pacific 2.9. Latin America 2.10. Africa/Middle East 2.11. Number of manufacturers of electric vehicles 2.12. Electrification 2.13. Drivers of change 2.14. Another supercapacitor bus stop charging system 2.15. Bus that travels above traffic - August 2016 2.16. Nine reasons why electric buses and trucks make sense for California 2.17. Huge impact of pure electric buses 3. ELECTRIC BUSES IN CHINA 3.1. China automotive industry 3.2. China bus market 3.2.1. China overall bus sales 2012-2014 3.2.2. China Light Bus Market 2013 3.2.3. China Medium Bus Market in 2013 3.2.4. China Large Bus Market 2013 3.3. Move to cleaner vehicles 3.4. Electric vehicle sales in China 2011-2014 3.4.2. Electric bus policy 3.5. Plug-in EV Sales in 2013 3.6. New Energy Vehicles NEV in 2014 3.7. Leapfrogging technology 3.8. Assessment of Chinese bus technology 3.8.1. Advanced technology in latest e-buses 3.8.2. Hiccups 3.8.3. China and rare earths 3.9. Chinese fuel cell activity: 35 organisations profiled 3.10. Chinese bus company and regional news 2014-5 3.10.1. BYD 3.10.2. BYD bus progress and plans 3.10.3. 5th New Energy Vehicle Exhibition Beijing Nov 2014 4. SURVEY OF HYBRID BUS MANUFACTURERS 4.1. Overview 4.2. Analysis of hybrid bus manufacturers by location 4.3. 86 hybrid bus manufacturers compared: HQ, bus and e-bus output range, images, examples and assessment. 5. SURVEY OF PURE ELECTRIC BUS MANUFACTURERS 5.1. Overview 5.2. Analysis of pure electric bus manufacturers by location 5.3. 80 manufacturers of pure electric buses by HQ, bus and e-bus output range, images, examples and assessment 5.4. Kalsruhe Assessment of E-Buses in 2015 6. FUEL CELL BUSES: LESSONS OF 92 TRIALS 6.1. Technology 6.2. Fuel cell bus rollout as planned by Daimler in 2010 but delayed 6.3. Reasons for failure to launch 6.4. Third decade of trials 6.5. Ballard Pyrrhic victory 6.6. Fuel cell cars in trouble, holding back buses 6.7. New competitor 6.8. Window of opportunity closing 6.9. Catalog of shortcomings 6.10. Advances 6.11. Ballard approach 6.12. Fuel cell size reduces, fewer trials, no rollouts 6.13. Program slippage 6.14. US Targets 6.15. US evaluations 6.16. Key observation 6.17. Daimler program today 6.18. Justified scepticism 6.19. Hyundai progress 6.20. Fuel cell bus trials 1990-2015 6.21. Fuel cell bus trials 2011-2015 6.22. Commitment in Europe 6.23. Commitment in the USA 6.23.1. Some of the fuel cell buses currently in transit service in the US 6.23.2. Flint MTA testing Proterra hydrogen fuel cell bus prototype for one year - October 2016 6.24. Commitment in China 7. EXAMPLES OF INTERVIEWS 7.1. ALABC/ILA London January 2016 7.2. Acal Energy UK 7.3. Aleees Taiwan 7.4. Bombardier Germany and Qualcomm USA 7.5. Ebusco Netherlands 7.6. EV Roadmap 8 USA 7.7. Green GT France 7.8. Hyundai Korea 7.9. IFEVS Italy 7.10. ITRI Taiwan 7.11. Nippon ChemiCon Japan 7.12. PowerHydrant USA 7.13. Proton Power Systems PLC, Proton Motor Fuel Cell GmbH Germany 7.14. Taiyo Yuden and JM Energy Japan 7.15. University of California Davis USA For more information about this report visit http://www.researchandmarkets.com/research/h9ggvz/electric_buses To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-electric-buses-market-2017-2027-100-hybrid-and-pure-electric-bus-manufacturers-appraised-and-regional-trends-revealed---research-and-markets-300460733.html


News Article | May 30, 2017
Site: www.businesswire.com

TAIPEI, Taiwan--(BUSINESS WIRE)--COMPUTEX 2017, the leading global ICT show with a complete supply chain, and IoT and startup ecosystems, held its grand opening ceremony today at Taipei Nangang Exhibition Center Hall 1. Chen Jien-jen, Vice President of the Republic of China (Taiwan), and James Huang, chairman of the Taiwan External Trade Development Council (TAITRA), kicked-off COMPUTEX 2017 along with senior executives from global high-tech companies. Joined by 250 VIP guests from Taiwan and abroad, COMPUTEX announced its new positioning, “Building Global Technology Ecosystems,” and emphasized its successful transformation of the show from its former hardware roots over the last two years maintaining its relevance in today’s global ICT industry. “COMPUTEX is one of the best benchmark events in the global ICT industry. To sync with global industry trends, COMPUTEX sets new themes and topics each year that are also closely aligned with Taiwan’s government policies. For example, the government’s ‘Asia Silicon Valley Development Plan,’ which aims to build an IoT and startup ecosystem, provides a blueprint of how the Taiwanese government will lead and achieve its ambition and determination to make Taiwan the best strategic partner for global high-tech startups,” said Vice President Chen. InnoVEX, the startup exhibit at COMPUTEX, also exemplifies Taiwan’s dedication to startups. James Huang, Chairman of TAITRA, added, “In response to global ICT industry trends, COMPUTEX repositions itself as ‘Building Global Technology Ecosystems’, focusing on five main themes: AI & Robotics, IoT Applications, Innovations & Startups, Business Solutions, and Gaming & VR. COMPUTEX 2017 attracted 1,600 exhibitors from 26 countries, including key exhibitors such as the AI computing pioneer, NVIDIA; smart car game changer, Tesla; cloud and business solver, Dell; IoT solution providers, Intel and NTT; software provider Microsoft; the high-performance server solution provider, SUPERMICRO; and Socionext, an image and networking focus key player powered by a Fujitsu-Panasonic joint venture. Meanwhile, Taiwanese key exhibitors including Asustek, Acer, Delta Electronics, MSI, GIGABYTE, BenQ, Clevo, Thermaltake, E-Lead and the Industrial Technology Research Institute (ITRI) join the exhibition as well. By May 26, the pre-registered international visitors at COMPUTEX 2017 had increased 10.5 percent year over year. Judging from the numbers, COMPUTEX is experiencing a positive response to its new positioning and its mission to weave a deeper connection among global ICT professionals.” Vice President Chen presented the d&i gold awards, rising star award and distinguished contribution awards to the winners during the COMPUTEX opening ceremony. With the rapid development of the global ICT industry, the awards added three new categories this year: AI, IoT and AR/VR. Competitors were more diversified this year, and jurors were so impressed, they expressed it was difficult to make the final decisions. The 2017 COMPUTEX d&i gold award winners included TM5, Taiwan’s first collaborative robot developed by Techman Robot; Dell’s Inspiron 15 Gaming laptops; CRYORIG TAKU, an innovative combination of a high-end ITX PC case and monitor stand; XPUMP, the world’s smallest smart home theater system from Embrace Audio Lab; and a tubular, air-tight antenna PX Taiwan developed with receiving devices in delta forms. The innovation award was given to Gunitech for its product called Floatfy, a comprehensive buoy incorporating sonar detectors embedded with variable-wave LED, patented rotary fluid mechanics design and smart control capabilities. Distinguished contribution awards were presented to Acer and Thermaltake, to celebrate the 10th anniversary of the COMPUTEX d&i awards. All award-winning products will be showcased at Nangang Exhibition Center Hall 1 (Booth No. I0407), and may also be selected to display at major ICT trade shows internationally to showcase their design caliber and extend the international influence of COMPUTEX. Besides the five main themes mentioned by Huang, COMPUTEX 2017 will also feature four exhibition areas— SmarTEX (IoT solutions in security, automotive electronics, smart home and entertainment, smart tech, and wearables), InnoVEX (the best platform for global startups), Gaming & VR (featuring high-performance gaming and VR products) and iStyle (showcasing Apple MFi-certified peripherals with great design and aesthetic value). These exhibits bring together technology companies from all over the world, along with newly launched products and technologies, unveiling the next generation of global technology ecosystems. More than 100 keynotes and forums will take place during COMPUTEX 2017 over the next five days. The CPX Conference and the InnoVEX Forum are two highlights. Global ICT professionals will share their insights and perspectives on the industry’s future. Three competitions will be held, including the OC World Cup, COMPUTEX Modding Challenge – CyberMods, and ZOTAC Cup Masters. COMPUTEX 2017 is set to deliver an amazing experience of diversified activities and numerous innovations for international visitors. The complete list of COMPUTEX d&i awards winners is available here. Established in 1981, COMPUTEX TAIPEI is the leading global ICT and IoT show with a complete supply chain and ecosystems. Co-organized by the Taiwan External Trade Development Council (TAITRA) and Taipei Computer Association (TCA), COMPUTEX, based upon Taiwan’s complete ICT clusters, covers the whole spectrum of ICT industry, from established brands to startups and from ICT supply chain to IoT ecosystems. With strong R&D and manufacturing capabilities and IPR protection, Taiwan is a strategic destination for foreign companies and investors looking for partners in global technology ecosystems. Follow COMPUTEX on its website at www.computextaipei.com.tw and on Twitter @computex_taipei using the hashtag #COMPUTEX. Founded in 1970 to help promote foreign trade, the Taiwan External Trade Development Council (TAITRA) is the foremost non-profit trade promotion organization in Taiwan. Jointly sponsored by the government, industry associations, and several commercial organizations, TAITRA assists Taiwan businesses and manufacturers with reinforcing their international competitiveness and in coping with the challenges they face in foreign markets. TAITRA boasts a well-coordinated trade promotion and information network of over 1,200 trained specialists stationed throughout its Taipei headquarters, four local branch offices in Hsinchu, Taichung, Tainan and Kaohsiung, and 60 overseas branch offices worldwide. Together with its sister organizations, Taiwan Trade Center (TTC) and Taipei World Trade Center (TWTC), TAITRA has created a wealth of trade opportunities through effective promotion strategies. In addition to organizing trade delegations and providing customized procurement services, TAITRA also hosts more than 35 international trade shows annually in Taipei and in Kaohsiung. In 2016, 11,128 exhibitors and 83,807 international visitors took part in these events.


News Article | May 31, 2017
Site: globenewswire.com

HSINCHU, Taiwan, May 31, 2017 (GLOBE NEWSWIRE) -- ITRI's R&D expertise of robotics will be in the international limelight at the 2017 IEEE International Conference on Robotics and Automation (ICRA), the world's largest robotics conference. ICRA is considered the source of many groundbreaking technologies for robotics, self-driving vehicles, and artificial intelligence. At ICRA, top researchers around the globe annually discuss the latest innovations in robotics and automation. Dr. Jwu-Sheng Hu, ITRI's Vice President and General Director of the Mechanical and Mechatronics Systems Research Laboratories, has been invited to serve as one of the Industrial Forum Chairs in ICRA 2017 committee. ITRI's Motion Intelligence Orchestration (MIO) industrial robotics controller and PC-based motion control card EPCIO will also be on display at ICRA 2017. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e97eaa12-e873-4539-b801-016bf36b3c35 Dr. I-Ming Chen of Singapore's Nanyang Technological University and General Chair of this year's ICRA, stated that according to the International Federation of Robotics (IFR), Japan, Korea, and China are the leading markets for industrial robotics, with the Asia Pacific industrial robotics industry contributing to over 50% of overall market revenue. This points to the importance of the Asia Pacific in the global robotics industry and is why ICRA 2017 took place in Singapore, he said. ITRI's Dr. Hu, who is also a Professor in the Department of Electrical and Computer Engineering at National Chiao Tung University, will serve as an Industrial Forum Chair at ICRA 2017 committee. Dr. Hu's background in both academic and research communities will be conducive to forging cooperation with the industrial sector. Dr. Hu remarked that interest among international venture capitals in robotics startups is greater than ever due to the increasing maturity of robotics applications. Consequently, a number of startups will unveil their latest technologies and applications at this year's ICRA. At the same time, Dr. Hu pointed out that the pace of research papers being turned into industrial applications is also picking up. ITRI, he said, has long been committed to promoting the commercialization of groundbreaking technology, and it will be on the lookout at this year's conference for the latest international trends in robotics and collaboration opportunities. Dr. Nelson Yen-Chung Chang, Manager in ITRI's Mechanical and Systems Research Laboratories, was invited to share R&D achievements at the Industry Forum on May 31. He would introduce the ITRI-developed MIO industrial robotics controller, which has enhanced dynamics control and improved trajectory precision, boosting robotic arm precision by a factor of 10. This will be conducive to precision assembly automation in the aerospace and timepiece industries and will help Taiwan companies seize upon global business opportunities associated with Industry 4.0. The IEEE has held ICRA for over 30 years, dating back to 1985. Each year, ICRA brings together experts from the world's leading research institutions and industrial representatives to discuss the latest robotics technologies. Research related to self-driving vehicles and artificial intelligence was among the groundbreaking technology first discussed at the conference. Renowned international companies such as ABB, KIKA, JD, drone manufacturer DJI, Korean educational robot manufacturer ROBOTIS, and Kawasaki Heavy Industries have participated in the event over the years as sponsors. Industrial Technology Research Institute (ITRI) is one of the world's leading technology R&D institutions aiming to innovate a better future for society. Founded in 1973, ITRI has played a vital role in transforming Taiwan's industries from labor-intensive into innovation-driven. It focuses on the fields of Smart Living, Quality Health, and Sustainable Environment. Over the years, ITRI has cultivated more than 140 CEOs and incubated over 240 innovative companies, including well-known names such as UMC and TSMC. In addition to its headquarters in Taiwan, ITRI has branch offices in the U.S., Europe, and Japan in an effort to extend its R&D scope and promote opportunities for international cooperation around the world. For more information, please visit http://www.itri.org/eng.


News Article | May 24, 2017
Site: www.businesswire.com

LIBERTY LAKE, Wash.--(BUSINESS WIRE)--Itron, Inc. (NASDAQ: ITRI), a world-leading technology and services company dedicated to the resourceful use of energy and water, has signed a contract with Águas de Matão to help the Brazilian water utility reduce water losses and improve revenue. The utility, which serves 27,000 customers in the City of Matão in Brazil’s state of São Paulo, will modernize its distribution system with Itron’s smart water solution, including software-as-a-service for analytics and meter data management. Facing non-revenue water levels of up to 50 percent, Águas de Matão sought a solution to help reduce these losses and protect revenues. With Itron’s solution, Águas de Matão will have more visibility into losses and can better account for water usage with detailed meter data to monitor system performance and improve water efficiency. In addition, with more accurate water meters, the utility can better track water usage to ensure resources are being used efficiently. The Itron solution includes residential and commercial & industrial (C&I) water metering automation and monitoring technologies. Águas de Matão will use Itron Temetra’s advanced data collection and data management software-as-a service to collect and process advanced data and generate insights from across the utility’s distribution network. The data will be available through an online, cloud-based interface that seamlessly integrates with the utility’s billing system. Itron’s C&I water monitoring technology will allow Águas de Matão to account for lost water by remotely monitoring the daily consumption patterns of larger customers and immediately detecting events, such as leaks, meter blockages, backflow, excessive consumption or significant pressure drop. “Itron is the right choice for Águas de Matão based on the company’s comprehensive, intelligent solution and its depth of experience in reducing water losses. We look forward to benefit from Itron’s expertise as we work to address our non-revenue water,” said Marcos Araújo, managing director of utilities at Aegea São Paulo, group of Águas de Matão. “By modernizing our distribution system and using sophisticated analytics, we will help ensure that our water resources are better managed.” “Helping utilities around the world be more resourceful is our mission. Águas de Matão is now on the path to protecting precious water resources while also preventing lost revenue. Our smart water solution will give Águas de Matão great visibility into its operations so it can proactively manage non-revenue water,” said Samuel Lee, Itron vice president of sales, marketing and solutions for Water in Latin America. Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water. We provide comprehensive solutions that measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement devices and control technology; communications systems; software; as well as managed and consulting services. With thousands of employees supporting nearly 8,000 customers in more than 100 countries, Itron applies knowledge and technology to better manage energy and water resources. Together, we can create a more resourceful world. Join us: www.itron.com. Itron® is a registered trademark of Itron, Inc. All third party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.


News Article | May 25, 2017
Site: www.acnnewswire.com

Taiwan Excellence Embarks on a Southbound Journey as it Debuts at CommunicAsia 2017 TAITRA expands visibility in the ASEAN market for 19 participating Taiwan Excellence Award winning brands including Acer, ASUS, Advantech, Planet, and VIVOTEK The Taiwan flag waved proudly at the opening of CommunicAsia 2017 as it showcased 50 Taiwanese technologies and innovations at the Taiwan Excellence Pavilion. This year's inaugural participation at Asia's premier sourcing and Information and Communication Technology (ICT) knowledge platform is part of the country's drive to lend support to Taiwanese companies in achieving regional competitiveness within the ICT sector. According to the Taiwan External Trade Development Council (TAITRA), the initiative is a key component of the Taiwan Industry Image Enhancement Project (IEP). 19 Taiwan Excellence Award winning brands on display at booth BQ2-01 feature technologies in the areas of enterprise mobility, green energy, smart cities and the Internet-of-Things (IoT). The exhibition runs until May 25, 2017 at the Sands Expo and Convention Centre in Singapore. Globally renowned Taiwanese companies Acer, Advantech, ASUS, Planet and VIVOTEK led the products showcase. Alongside these brands, Dr. Chiueh Tzi-Cker, Vice President & General Director of Information and Communications Research Laboratories at the Industrial Technology Research Institute of Taiwan (ITRI) spoke about integrating existing technologies and platforms in the push towards Smart Living. ITRI is part of the delegation led by the Taiwan Electrical and Electronic Manufacturers' Association at booth BQ3-13. Mr. Francis Liang Kuo-Hsin, Representative of the Taipei Representative Office in Singapore, graced the Taiwan Excellence Pavilion's maiden launch at CommunicAsia as its Guest-of-Honour. In his opening address, Mr. Liang said, "Singapore is an important trade partner of Taiwan, and we have long established a strong and close bilateral relation between the two countries. Through Taiwan Excellence's inaugural participation in CommunicAsia, we hope to promote partnerships, sharing of our cutting-edge technologies, and facilitate knowledge exchange between leading Taiwanese companies, innovators and members of the ICT industry in the Southeast Asia region", affirming Taiwan's focus in the region. Addressing a room full of partners, media and guests, Mr. Scott Yang, Deputy Director of Marketing at TAITRA, shared that "many Taiwan manufacturers possess ground-breaking research and development (R&D) findings and record strong international sales. Aligned with the government's initiatives, Taiwan Excellence aims to help these innovative products and brands break into the regional market in a bid to garner more opportunities for international cooperation." Situated conveniently by the entrance close to CommunicAsia's visitor registration, the Taiwan Excellence Pavilion features an interactive platform, offering visitors an up-close experience with the products on exhibit. This strategic location helps focus the spotlight on the innovative brilliance, further bolstering the eminence of the brands and the esteem in which they are held. Ranking 2nd in the world for three years on the trot and top in Asia in digital adoption encompassing areas such as consumer technology, e-commerce, financial services and interactive digital media and telecommunications, Singapore is the natural choice as a launch pad for Taiwan's Digital Nation Plan and New Southbound Policy. Over the three days at CommunicAsia, the expected visitor turnout north of 30,000 flaunts officials, C-Level executives and international buyers. Working in this space, Taiwanese manufacturers can expect to present their latest technology innovations in pursuit of the Asia.Silicon Valley vision of propelling Taiwanese manufacturers to the international forefront of IoT innovation. About the Taiwan Excellence Award The symbol of Taiwan Excellence honors Taiwan's most innovative products that provide tremendous value to users worldwide. All products carrying this symbol have been selected for specific Taiwan Excellence Awards based on their excellence in design, quality, marketing, Taiwanese R&D, and manufacturing. Initiated by Taiwan's Ministry of Economic Affairs (MOEA) in 1992, the symbol of Taiwan Excellence is recognized in 100 countries. Supported by Bureau of Foreign Trade (BOFT), MOEA The Bureau of Foreign Trade (BOFT) under the Ministry of Economic Affairs (MOEA), R.O.C. is responsible for implementing policies and regulations governing foreign trade and economic cooperation. Established in January 1969, the BOFT's role and position have been adjusted regularly to meet the needs of the ever changing international economic and trade environments. The BOFT has been guiding and working with the Taiwan External Trade Development Council (TAITRA) in numerous promotional trade projects and activities both internationally and domestically. Having worked closely with TAITRA for many decades, the BOFT continues to commission TAITRA for various critical government projects relating to business, trade and investment, while promoting Taiwan internationally. Organized by Taiwan External Trade Development Council (TAITRA) Founded in 1970 to help promote foreign trade, the Taiwan External Trade Development Council (TAITRA) is the foremost non-profit, semi-governmental trade promotion organization in Taiwan. Jointly sponsored by the government, industry associations, and several commercial organizations, TAITRA assists Taiwanese businesses and manufacturers with reinforcing their international competitiveness and in coping with the challenges they face in foreign markets. TAITRA boasts a well-coordinated trade promotion and information network of over 1,200 international marketing specialists stationed throughout its Taipei headquarters and 50 offices worldwide. Together with its sister organizations, the Taiwan Trade Center (TTC) and the Taipei World Trade Center (TWTC), TAITRA has created a wealth of trade opportunities through effective promotion strategies. For Media Enquiries TAITRA Ya Hsing Lu Strategic Marketing Department, TAITRA Tel: +886 2 2725 5200 #1386 Email: PRecious Communications for TAITRA Melinda Ilagan Tel: +65 6303 0567 Email: Topic: Trade Show or Conference Sectors: Telecoms, Media, Enterprise IT, Mobility/Wireless, Broadcast, Digital http://www.acnnewswire.com From the Asia Corporate News Network Taiwan Excellence Embarks on a Southbound Journey as it Debuts at CommunicAsia 2017 Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS


News Article | February 28, 2017
Site: www.businesswire.com

LIBERTY LAKE, Wash.--(BUSINESS WIRE)--Itron, Inc. (NASDAQ:ITRI) announced today financial results for its fourth quarter and full year ended Dec. 31, 2016. Highlights include: “Itron’s fourth quarter results reflect a strong finish to a year of significant improvement in financial and operational performance,” said Philip Mezey, Itron’s president and chief executive officer. “Highlights from the quarter include improved earnings and robust revenue growth in the Electricity segment driven by growth in smart solutions. Adjusted EBITDA increased by more than 50 percent to $54 million driven by our focus on predictability, profitability and growth. This level of EBITDA equates to 11 percent of revenues, demonstrating that we are making progress toward our mid-teens goal. In addition, the board's authorization of a new share repurchase program reflects confidence in Itron’s profitable growth initiatives, financial flexibility and long-term business outlook." Summary of Fourth Quarter Consolidated Financial Results (All comparisons made are against the prior year period unless otherwise noted) Total revenue was $495.7 million in the fourth quarter of 2016 compared with $496.4 million in the fourth quarter of 2015. Foreign currency exchange rates unfavorably affected revenue by $7 million compared with the prior year. In addition, strong revenue growth in the Electricity segment, which grew 13 percent, offset decreases in the Gas and Water segments. Gross margin was 31.6 percent compared with the prior year period margin of 30.7 percent. The improvement in gross margin was driven by favorable product mix and reduced warranty expense, partially offset by increased variable compensation. Operating expenses were $125.9 million compared with $136.0 million in 2015. The decrease was due primarily to lower legal costs and reduced headcount in general and administrative departments, which was partially offset by higher variable compensation and restructuring costs. Operating income improved to $30.8 million compared with operating income of $16.4 million in 2015. Non-GAAP operating income improved to $44.7 million compared with $25.9 million in 2015. Net income for the quarter was $11.6 million, or 30 cents per diluted share, compared with net income of $9.0 million, or 23 cents per diluted share, in 2015. Non-GAAP net income for the quarter was $26.4 million, or 68 cents per diluted share, compared with $17.4 million, or 45 cents per diluted share, in 2015. The increases in GAAP and non-GAAP operating income were driven by improved gross margin and lower operating expenses. GAAP and non-GAAP net income and earnings per share reflect the company’s increased operating income partially offset by a higher effective tax rate. The increased tax rate was due to the mix of taxable income by jurisdiction and discrete items. Cash provided by operating activities was $34.0 million in the fourth quarter of 2016 compared with $53.2 million in 2015. Non-GAAP free cash flow was $21.0 million in the fourth quarter compared with $42.6 million in the prior year. The decreases in quarterly cash from operations and free cash flow over the prior year were primarily driven by timing of accounts payable, timing of remittances on certain large contracts and a $2.4 million increase in capital expenditures. For the full year, cash from operating activities totaled $115.8 million in 2016 compared with $73.4 million in 2015. Free cash flow was $72.3 million in 2016 compared with $29.4 million in 2015. The increases in cash from operations and free cash flow over the prior year were primarily driven by increased profitability and reduced inventory, partially offset by the timing of remittances on certain large contracts. Capital expenditures were flat year-over-year at approximately $44 million. Bookings in the quarter totaled $653 million. Total backlog was $1.7 billion and 12-month backlog was $761 million at 2016 year end, compared with $1.6 billion and $836 million at 2015 year end, respectively. On Feb. 23, 2017, the board of directors authorized a new program to repurchase up to $50 million of Itron common stock over a 12-month period beginning Feb. 23, 2017. Repurchases under the program will be made in the open market in accordance with applicable securities laws. Itron’s guidance for the full year 2017 is as follows: This guidance assumes foreign currency exchange rates remain consistent with current levels on average in 2017, average fully diluted shares outstanding of approximately 39.5 million for the year and a non-GAAP effective tax rate for the year of approximately 35 percent. A reconciliation of forward-looking non-GAAP diluted EPS to the GAAP diluted EPS has not been provided because we are unable to predict with reasonable certainty the potential amount or timing of restructuring and acquisition-related expenses and their related tax effects without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP results for the guidance period. Itron will host a conference call to discuss the financial results and guidance contained in this release at 5 p.m. EST on Feb. 28, 2017. The call will be webcast in a listen-only mode. Webcast information and conference call materials will be made available 10 minutes before the start of the call and will be accessible on Itron’s website at http://investors.itron.com/events.cfm. A replay of the audio webcast will be made available for one year at http://investors.itron.com/events.cfm. A telephone replay of the conference call will be available through March 5, 2017. To access the telephone replay, dial 888-203-1112 (Domestic) or 719-457-0820 (International) and enter passcode 8093200. Itron is a world-leading technology and services company dedicated to the resourceful use of energy and water. We provide comprehensive solutions that measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement devices and control technology; communications systems; software; as well as managed and consulting services. With thousands of employees supporting nearly 8,000 customers in more than 100 countries, Itron applies knowledge and technology to better manage energy and water resources. Together, we can create a more resourceful world. Join us: www.itron.com. Itron® is a registered trademark of Itron, Inc. All third party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated. This release contains forward-looking statements within in the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our expectations about revenues, operations, financial performance, earnings, earnings per share, cash flows and restructuring activities including headcount reductions and other cost savings initiatives. Although we believe the estimates and assumptions upon which these forward-looking statements are based are reasonable, any of these estimates or assumptions could prove to be inaccurate and the forward-looking statements based on these estimates and assumptions could be incorrect. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Actual results and trends in the future may differ materially from those suggested or implied by the forward-looking statements depending on a variety of factors. Some of the factors that we believe could affect our results include our ability to execute on our restructuring plan, our ability to achieve estimated cost savings, the rate and timing of customer demand for our products, rescheduling of current customer orders, changes in estimated liabilities for product warranties, adverse impacts of litigation, changes in laws and regulations, our dependence on new product development and intellectual property, future acquisitions, changes in estimates for stock-based and bonus compensation, increasing volatility in foreign exchange rates, international business risks and other factors that are more fully described in our Annual Report on Form 10-K for the year ended December 31, 2015 and other reports on file with the Securities and Exchange Commission. Itron undertakes no obligation to update or revise any information in this press release. To supplement our consolidated financial statements presented in accordance with GAAP, we use certain non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, adjusted EBITDA margin, constant currency and free cash flow. We provide these non-GAAP financial measures because we believe they provide greater transparency and represent supplemental information used by management in its financial and operational decision making. We exclude certain costs in our non-GAAP financial measures as we believe the net result is a measure of our core business. The company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. Non-GAAP performance measures should be considered in addition to, and not as a substitute for, results prepared in accordance with GAAP. Our non-GAAP financial measures may be different from those reported by other companies. A more detailed discussion of why we use non-GAAP financial measures, the limitations of using such measures, and reconciliations between non-GAAP and the nearest GAAP financial measures are included in this press release. Statements of operations, segment information, balance sheets, cash flow statements and reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures follow. The accompanying press release contains non-GAAP financial measures. To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use certain non-GAAP financial measures, including non-GAAP operating expense, non-GAAP operating income, non-GAAP net income, non-GAAP diluted EPS, adjusted EBITDA, constant currency and free cash flow. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures please see the table captioned “Reconciliations of Non-GAAP Financial Measures to Most Directly Comparable GAAP Financial Measures.” We use these non-GAAP financial measures for financial and operational decision making and/or as a means for determining executive compensation. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and ability to service debt by excluding certain expenses that may not be indicative of our recurring core operating results. These non-GAAP financial measures facilitate management’s internal comparisons to our historical performance as well as comparisons to our competitors’ operating results. In addition, management analyzes revenue growth and operational results on a constant currency basis to assess how our business performed excluding the effect of foreign currency rate fluctuations. Our executive compensation plans exclude non-cash charges related to amortization of intangibles and certain discrete cash and non-cash charges such as purchase accounting adjustments, restructuring charges or goodwill impairment charges. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. We believe these non-GAAP financial measures are useful to investors because they provide greater transparency with respect to key metrics used by management in its financial and operational decision making and because they are used by our institutional investors and the analyst community to analyze the health of our business. Non-GAAP operating expenses and non-GAAP operating income – We define non-GAAP operating expenses as operating expenses excluding certain expenses related to the amortization of intangible assets, restructuring, acquisitions and goodwill impairment. We define non-GAAP operating income as operating income excluding the expenses related to the amortization of intangible assets, restructuring, acquisitions and goodwill impairment. We consider these non-GAAP financial measures to be useful metrics for management and investors because they exclude the effect of expenses that are related to previous acquisitions and restructuring projects. By excluding these expenses, we believe that it is easier for management and investors to compare our financial results over multiple periods and analyze trends in our operations. For example, in certain periods expenses related to amortization of intangible assets may decrease, which would improve GAAP operating margins, yet the improvement in GAAP operating margins due to this lower expense is not necessarily reflective of an improvement in our core business. There are some limitations related to the use of non-GAAP operating expense and non-GAAP operating income versus operating expense and operating income calculated in accordance with GAAP. Additionally, the expenses that we exclude in our calculation of non-GAAP operating expense and non-GAAP operating income may differ from the expenses that our peer companies exclude when they report the results of their operations. We compensate for these limitations by providing specific information about the GAAP amounts we have excluded from our non-GAAP operating expense and non-GAAP operating income and evaluating non-GAAP operating expense and non-GAAP operating income together with GAAP operating expense and GAAP operating income. Non-GAAP net income and non-GAAP diluted EPS – We define non-GAAP net income (loss) attributable to Itron, Inc. as income excluding the expenses associated with amortization of intangible assets, restructuring, acquisitions, goodwill impairment, amortization of debt placement fees and the tax effect of excluding these expenses. We define non-GAAP diluted EPS as non-GAAP net income divided by the weighted average shares, on a diluted basis, outstanding during each period. We consider these financial measures to be useful metrics for management and investors for the same reasons that we use non-GAAP operating income. The same limitations described above regarding our use of non-GAAP operating income apply to our use of non-GAAP net income and non-GAAP diluted EPS. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP measures and evaluating non-GAAP net income and non-GAAP diluted EPS together with GAAP net income (loss) attributable to Itron, Inc. and GAAP diluted EPS. Adjusted EBITDA – We define adjusted EBITDA as net income (a) minus interest income, (b) plus interest expense, depreciation and amortization of intangible assets, restructuring, acquisition related expense, goodwill impairment and (c) excluding the tax expense or benefit. Management uses adjusted EBITDA as a performance measure for executive compensation. A limitation to using adjusted EBITDA is that it does not represent the total increase or decrease in the cash balance for the period and the measure includes some non-cash items and excludes other non-cash items. Additionally, the items that we exclude in our calculation of adjusted EBITDA may differ from the items that our peer companies exclude when they report their results. We compensate for these limitations by providing a reconciliation of this measure to GAAP net income. Free cash flow – We define free cash flow as net cash provided by operating activities less cash used for acquisitions of property, plant and equipment. We believe free cash flow provides investors with a relevant measure of liquidity and a useful basis for assessing our ability to fund our operations and repay our debt. The same limitations described above regarding our use of adjusted EBITDA apply to our use of free cash flow. We compensate for these limitations by providing specific information regarding the GAAP amounts and reconciling to free cash flow. Constant currency - We may refer to the impact of foreign currency exchange rate fluctuations in our discussions of financial results, which references the differences between the foreign currency exchange rates used to translate operating results from local currencies into U.S. dollars for financial reporting purposes. We also use the term “constant currency,” which represents financial results adjusted to exclude changes in foreign currency exchange rates as compared with the rates in the comparable prior year period. We calculate the constant currency change as the difference between the current period results and the comparable prior period’s results restated using current period currency exchange rates. The accompanying tables have more detail on the GAAP financial measures that are most directly comparable to the non-GAAP financial measures and the related reconciliations between these financial measures.


News Article | February 23, 2017
Site: www.rdmag.com

Developed under collaborative efforts from ITRI and Stanford University, the first commercially viable aluminum battery is born. The battery uses an aluminum anode, a graphite-structured carbon cathode and a highly safe ionic liquid electrolyte. It is capable of ramping between 100 percent and 20 percent full capacity in two-minutes repeatedly for more than 10,000 cycles, while maintaining an exceptional coulombic efficiency (CE) of 98 percent throughout this cycle life. URABat, an ultrafast rechargeable aluminum battery and winner of a 2016 R&D 100 award uses simple aluminum as its anode, structured graphitic carbon as its cathode, and filled with ionic liquid electrolytes in between, has successfully broken the barriers of low discharge voltages (less than 0.55 V) and insufficient life cycle (less than 100 cycles) which hampered the development of aluminum batteries for decades. Each year for more than 50 years, R&D Magazine has honored the 100 best innovations in research and development. We are currently accepting applications for the 2017 R&D 100 Awards. Innovators with an exceptional product developed between January 1, 2016 and March 31, 2017 should apply. Submissions close April 14, 2017 For information on the 55th Annual R&D 100 Awards and to enter visit http://www.rd100conference.com

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