Itron’s main drives are water preservation in India and quarterly reporting

Itron, Inc. (ITRI), a developer and producer of smart infrastructure technology, released its first-quarter results. Itron was able to show the value of their solutions despite supply issues and dwindling revenue. Itron’s overall sales declined by 9% to $475 million in the last quarter (-6 percent excluding exchange rates).

Itron’s business is severely harmed by component shortages and supply chain issues, which prevent the firm from satisfying all of its customers’ demands. Profits were also down against this backdrop. It was $1 million, or $0.02 per diluted share, compared to $13 million and $0.3 the previous year. The order book (backlog) increased to $3.9 billion, though. The firm received $417 billion in additional orders during the quarter.

Itron solutions continue to be in great demand, and supply issues, although persistent, are only transitory. The firm provides infrastructure project automation tools, smart meters, and other technology and software that help municipalities save money and resources. So, this week, the deal between Itron and Yokogawa India was made public. In Satna, Madhya Pradesh, India, Itron technologies were used to manage water supplies as part of a smart infrastructure project.

The Itron system was designed to cut water losses by detecting leaks using a network of sensors and optimizing the operation of water pumping stations based on water usage changes. Itron and Yokogawa have inked a five-year deal, making this one of the first smart system installations in India. Yokogawa is banking on its effective implementation and substantial water savings. Success in this vast market with a scarcity of water resources might lead to additional contracts for Itron.