Elster Announces Positive FY 2014 Financial Results

RALEIGH, N.C., March 10, 2015 (GLOBE NEWSWIRE) -- Elster Electricity announces that its FY2014 financial results reflect a 23 percent increase in net profit over the previous year.

The Elster Group's profits are up by two-thirds in the two full years since the company was sold. The Group delivered increases of 9 percent in revenue growth and 6 percent in order intake growth in the second half of 2014.

"We are proud to report another very successful year," commented Mike Caranfa, vice president, Sales & Strategy, for Elster. "Our success in North America has been highlighted with some significant new wins, including CFE, one of Latin America's largest smart grid projects and many new contracts for public power agencies and electric cooperatives in the United States.

"I'm confident," he continued, "that the coming months will be equally exciting, especially with the positive feedback we're getting around our newly announcedConnexo unified utility intelligence platform."

About Elster

Elster delivers complete smart grid and energy management solutions that drive energy efficiency, operational improvements and cost savings for utilities, commercial and industrial customers and consumers. Elster uses its speed and agility to drive interoperability and open standards and strategically collaborates with customers and partners.

Its end-to-end electricity, water and gas offerings include advanced meters/sensors, secure communications, and data collection, management and
analytics. Elster is dedicated to customer success in more than 130 countries through Elster's professional integration services, technical support and training.

CONTACT: Juhl Communications Ginger Juhl 303-955-4771 ginger.juhl@elster.com

Source: Elster Solutions