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Local Tech Wire

RALEIGH, N.C. – Technology to improve energy and water conservation and management is a warming market for

The Raleigh-based tech firm reported Friday a “record” $260 million in revenue for the most recent quarter ending March 31. That total represents a 26 percent increase from a year earlier.

Driving sales were so-called smart meters for utility customers.

Before income taxes, depreciation and amortization (EBITDA) jumped 61 percent to $48 million.

Sensus also reported a backlog of $134 million in orders, which the firm also said is a record.

“This is a significant milestone for Sensus,” said Chief Executive Officer Peter Mainz, noting that the quarterly performance puts the firm on track for “an annualized revenue level of more than $1 billion.”

Sensus has more than 225 utility customers and has now shipped more than 6 million of its devices.