Hunt Technologies reports record performance in 2003

PEQUOT LAKES, MN, Jan. 22, 2004 — Hunt Technologies said it wrapped up 2003 well ahead of forecast in revenue and sales, reporting nearly 20% revenue growth in 2003.

Customer growth and deployments of Hunt Technologies entire family of products and services is exceptional, led by its two-way product line launched fifteen months ago. Twenty eight new customers have selected Hunt Technologies’ solutions for AMR over the past year.

While Hunt Technologies continues to be the premier provider of automatic meter reading solutions for the REC marketplace, over 25 investor-owned utilities and 35 municipals have also selected Hunt Technologies’ solutions to meet their operational needs.

“We are extremely pleased with the financial results of 2003,” said Jim Agre, VP of Finance for Hunt Technologies. “We have experienced growth from all market segments, a trend that continues to validate our strategy to deliver a solution that is adaptable to the needs of all utility markets.”

Utilities strive to do more with less money and the Hunt Technologies’ solution delivers. The versatility of Hunt Technologies’ solution allows utilities to choose the lower cost one-way Turtle System, the feature rich two-way TS2 System, or to cost and feature engineer a solution that utilizes both product lines to meet their specific operational and financial objectives.

“The beauty of Hunt Technologies’ offering is the flexibility utilities have in creating their solution,” said Tom Anderson, Hunt Technologies COO. “We understand that objectives vary from one utility to another. Our product and service strategy allows utilities to tailor a solution and business case that meets both their financial and operational goals.”

This strategy has been well accepted in the marketplace. In the past year, forty percent of new customers selected the one-way solution, forty percent choose two-way, and around twenty percent elected to install a blended solution.

About Hunt Technologies, Inc.

Hunt Technologies employs technology to deliver an endpoint information system that increases operational efficiency while optimizing the utility investment dollar. For more information on Hunt Technologies, visit www.turtletech.com.


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