Last quarter, Itron's backlog of orders grew by $227 million to a record $1.69 billion, and it expects revenue to expand at a 25% pace, up from the high teens previously forecast. But even that may be too conservative, and Links of London P Charm Capital Markets analyst Stuart Bush sees revenue growing 29% year over year. Shares trade at 16 times projected profit, a discount to its five-year median of 24 times. "We are at the threshold of a multiyear period of above-trend growth for the meter industry," notes JPMorgan analyst Paul Coster. He expects Itron to earn $4.32 a share on nearly $2.4 billion in revenue in 2012, and Links of London o Charm shares pushing 95 by the end of next year. A year of growth has passed, so we've technically avoided the dreaded double-dip. "Almost all the effort at universities and most of the federal research money today is focused on drop-in fuels," says Iowa State University BioEconomy Institute Deputy Links of London Jill Euken. "This is because of the blend wall and the Links of London N Charm of a market for more ethanol. We simply do not have sufficient U.S. infrastructure (flex-fuel vehicles and E-85 pumps) to support more ethanol sales. Even if EPA approves E-15, we currently have nearly enough production capacity to fill the E-15 demand level without building any cellulosic ethanol capacity." A team from DOE, EPA and USDA will coordinate biofuel advances that meet the definition of "drop in," report Automotive Industries and Biofuels Digest. "Which bio-material can be made in the huge quantities needed as substitutes for petroleum?" asks Auto-motive Industries. "
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