Essen, Germany-based Elster Group(ELT) is a world leader in Advanced Metering Infrastructure (AMI) and integrated metering and utilization solutions to the gas, electricity and water industries. The company’s products and solutions are used to accurately and reliably measure gas, electricity and water consumption as well as enable energy efficiency and conservation. Elster has operations in 38 countries.
In the fourth quarter of 2010, Elster had revenues of $476.8 million, up 5.9% year-over-year and the GAAP earnings was $0.30 per ADS. For the full year, total revenues came in at $1,759.3 million.
The ADS started trading on the NYSE in October of last year. Currently the stock does not pay a dividend. The Friday’s closing price of $16.30 is just a dollar shy of the 52-week high of $17.44.
In the last 10 years Elster has installed over 200 million metering devices in more than 130 countries for both residential and industrial customers. With energy conservation and the green movement gaining more acceptance among the general population in recent years, the future looks promising for Elster.Investors may want to keep an eye on this interesting German company operating in one of the most-promising industries.
Disclosure: No Positions