QUOTE AND NEWS
CNNMoney.com  Jul 18  Comment 
Read full story for latest details.
Benzinga  Aug 28  Comment 
 Elster (NYSE: ELT) announced today that the initial offering period of the previously-announced cash tender offer by Mintford AG, a wholly-owned subsidiary of Melrose PLC, to acquire all outstanding ordinary shares and American Depositary Shares...
StreetInsider.com  Aug 3  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Elster+Group+%28ELT%29+Misses+Q2+EPS+by+3c%3B+Reaffirms+Outlook/7629229.html for the full story.
Benzinga  Jun 25  Comment 
Wunderlich Securities lowers its rating on Elster Group (NYSE: ELT) from Buy to Hold, but reiterates its price target at $18. Wunderlich Securities comments, "Britain-based Melrose PLC is in talks to acquire Elster Group (ELT) for...
Benzinga  Jun 19  Comment 
Canaccord Genuity downgrades Elster Group (NYSE: ELT) from Buy to Hold, but raises its price target from $19 to $20. Canaccord Genuity comments, "With the active sale process of Elster (majority owned by CVC) now publicly confirmed, we look...
Benzinga  Jun 18  Comment 
Jefferies & Company has published a research report on Itron (NASDAQ: ITRI) after competitor Elster Group (NYSE: ELT) confirmed acquisition talks. In the report, Jefferies writes, "This morning, before the open, Elster (ELT, NC) confirmed it...
StreetInsider.com  Jun 18  Comment 
Below are stocks making moves higher in pre-open trading Monday: WINNERS: Extorre Gold Mines Limited (NYSE: XG) 52% HIGHER; Acquired by Yamana Gold (NYSE: AUY) Elster Group SE (NYSE: ELT) 18% HIGHER; takeover offer Arena Pharmaceuticals, Inc....
StreetInsider.com  May 4  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Elster+Group+%28ELT%29+Misses+Q1+EPS+by+1c%3B+Revs+Light/7403391.html for the full story.
Benzinga  Mar 27  Comment 
Elster (NYSE: ELT) today announced that it has filed a shelf registration statement on Form F-3 with the U.S. Securities and Exchange Commission (SEC). Under the shelf registration statement, once declared effective by the SEC, Rembrandt Holdings...




 
TOP CONTRIBUTORS

Elster Group (NYSE:ELT) sells meters which are used by gas, water, and electricity providers. According to L.E.K Consulting, Elster is the largest provider of meters in terms of revenue. In addition to selling the physical meters, the company also sells communications, networks, and software tools which allow the utility companies to reliably and efficiently bill their customers.[1]

While Elster believes that manually read meters will remain an important part of its business, it expects that Smart Grid systems will become an area of increased growth. A Smart Grid product allows utility companies and the individual consumer to effectively monitor and control the distribution of the utility. The rise in interest in providing energy efficient systems as well as energy regulations have driven demand in this area. According to Scott Reports, smart metering systems consist of 13% of all meters installed in the US, and that rate will increase by approximately 50% within the next few years.[2]

The company's initial public offering of stock on the NYSE and occurred on September 29, 2010. Its initial price range was $16-$18, and the stock priced substantially below the range at $13. The company sold 16.2M shares and raised $211M. The lead underwriters of the deal were Deutsche Bank AG (DB), Goldman Sachs Group (GS), and J P Morgan Chase (JPM).[3]

The company experience a drop in revenue from 2008 in 2009 - from $1.9B in 2008 down to $1.7 in 2009. However, net income rose form -$87M in in 2008 to $48.9M in 2009.[4]

References

  1. ELT F-1 2010 "Prospectus Summary" pg 1
  2. ELT F-1 2010 "Prospectus Summary" pg 1
  3. Renaissance Capital - IPO "Metering company Elster Group prices IPO at $13, well below its planned $16-$18 range" 29 Sept 2010
  4. ELT F-1 2010 "Summary Financial and Other Data" pg 9
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