Silver Spring Networks (SSNI) Tops Q3 EPS by 5c; CEO to Step Down, Transition to Chairman

Silver Spring Networks (NYSE: SSNI) reported Q3 EPS of ($0.14), $0.05 better than the analyst estimate of ($0.19). Revenue for the quarter came in at $70.9 million versus the consensus estimate of $67.3 million.

“I am pleased with our execution this quarter and the terrific progress we made to improve our ongoing performance,” said Scott Lang, Chairman, President, and Chief Executive Officer. “We had some important wins this quarter that expanded our addressable markets, drove record backlog and extended our position as a market leader.”

The company also announced that airman, President, and CEO Scott Lang will transition into the role of Executive Chairman once a new CEO has been appointed. With Mr. Lang’s decision to initiate the CEO succession plan, the Company is now beginning its CEO search process.

For earnings history and earnings-related data on Silver Spring Networks (SSNI) click here.

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