RuggedCom Inc., symbol RCM on Toronto, makes computer-networking equipment that is used in harsh environments. The company recently announced that it has teamed up with ABB Ltd. (symbol ABB on New York) to win a new contract from the Eastern Nebraska Public Power District Consortium. We cover ABB in our Wall Street Stock Forecaster newsletter. Terms of the agreement were not disclosed.
Under the deal, the partners will supply communications equipment for the consortium’s smart grid project. This technology will let the consortium better monitor customer outages, and cut the time required to restore services over a 1,000-square-mile area.
Technology stocks: RuggedCom seeks to strengthen reputation for reliability
RuggedCom’s equipment is considered ideal for power grids. The company’s products are designed to reliably operate under high levels of electromagnetic interference. They can also cope with wide variations in temperature and humidity, as well as vibration and exposure to dust.
This new contract reinforces RuggedCom’s already strong reputation for reliability.
For the quarter ended June 30, 2011, this technology stock’s revenue increased by 33% year over year, the company reported, while purchase orders rose 20% year over year. RuggedCom also reported that it had added 105 new customers in the quarter.
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