Badger Meter, Inc. engages in the manufacture and marketing of products incorporating flow measurement and control technologies serving markets worldwide. Products, Systems and Solutions The company serves water utilities, municipalities, and commercial and industrial customers worldwide. The company’s product lines fall into three categories, including sales of water meters and related technologies to municipal water utilities (municipal water), sales of meters to various industries for water and other fluids (flow instrumentation), and sales of gas meter radios and concrete vibrators to markets (specialty products). Municipal water includes mechanical and electronic (static) water meters and related technologies and services used by water utilities as the basis for generating water and wastewater. The main market for the company’s water meter products is North America, primarily the United States. Flow instrumentation includes meters and valves sold worldwide to measure and control materials flowing through a pipe or pipeline including water, air, steam, oil, and other liquids and gases. These products are used in various applications, such as water/wastewater; heating, ventilating and air conditioning (HVAC); oil and gas; chemical and petrochemical; food and beverage; and pharmaceutical production. The company’s flow measurement technologies are sold to original equipment manufacturers as the primary flow measurement device within a product or system. Specialty products include sales of radio technology to natural gas utilities for installation on their gas meters, and concrete vibrators used in the concrete construction process. Residential and commercial water meters are generally classified as either manually read meters or remotely read meters via radio technology. Meters equipped with radio transmitters (endpoints) use encoder registers to convert the measurement data from the meter (mechanical or static) into an encrypted digital format which is then transmitted via radio frequency to a receiver that collects and formats the data appropriately for water utility billing systems. These remotely read, or mobile, systems are either automatic meter reading systems, where a vehicle equipped for meter reading purposes, including a radio receiver, computer and reading software, collects the data from utilities’ meters; or fixed network advanced metering infrastructure (AMI) systems, where data is gathered utilizing a network of permanent data collectors or gateway receivers that are always active or listening for the radio transmission from the utilities’ meters. In 2011, the company introduced the next generation of metering technology, advanced metering analytics (AMA), along with a host of automated utility management tools to facilitate the ability of water and gas utilities to increase their productivity and revenue, as well as proactively utilize their data. AMA consists of both software and hardware, including the ORION SE two-way fixed network or GALAXY one-way fixed network technology, which is complemented by a family of water meters. The ORION SE system can operate in either a mobile or fixed network mode depending on the deployment needs of the utility. In 2014, the company enhanced its AMA offering by launching its new BEACON AMA system. BEACON AMA combines the BEACON analytical software suite with proven ORION AMI technology using fixed and cellular networks in a managed solution, improving utilities’ visibility of their water consumption and reducing the need for costly infrastructure. BEACON AMA enables two-way communication between the water meter and the meter reading system. The BEACON AMA secure, hosted software suite includes a customizable dashboard, the ability to establish alerts for specific conditions, and consumer engagement tools that allow end water customers to view and manage their water usage activity. In addition to selling its proprietary radio products, including the ORION and GALAXY radio technologies combined with the BEACON AMI/AMA software, the company remarkets the Itron radio products under a license and distribution agreement with Itron, Inc. The company’s proprietary radio products generally result in higher margins than the remarketed, non-proprietary technology products. The company also sells registers and endpoints separately to customers who wish to upgrade their existing meters in the field. Its specific flow measurement and control applications and technologies serve the flow measurement market through both customized and standard precision flow measurement technologies. The company's products are sold throughout the world through employees, resellers and representatives. Strategy The company’s strategy is to fulfill customers’ metering expectations and requirements with its proprietary meter reading systems or other systems available through its alliance partners in the marketplace. Competition There are competitors in each category in which the company sells its products, and the competition varies from moderate to intense. Major competitors for utility water meters include Sensus; Neptune Technology Group Inc.; Master Meter, Inc.; and Mueller Water Products, Inc. The company's primary competitors for water utility radio products in North America are Itron, Inc.; Neptune Technology Group Inc.; and Sensus. Outside of North America, the primary competitors include Itron, Inc.; Sensus; Diehl Metering GmbH; and Elster Group GmbH. Major competitors in the industrial flow markets include Emerson Electric Co.; Krohne Messtechnik GmbH; Endress+Hauser AG; and Yokogawa Electric Corporation. In the HVAC market, the key competitor is Onicon Incorporated. In upstream oil and gas, Cameron International Corp. is the primary competitor. Research and Development For the year ended December 31, 2014, the company’s expenditures for research and development activities relating to the development of new products, the improvement of existing products and manufacturing process improvements were $9.5 million. History Badger Meter, Inc. was founded in 1905. The company was incorporated in 1905.
badger meter inc
(BMI:New York Consolidated)
4545 West Brown Deer Road
Milwaukee, WI 53223
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