Echelon (ELON) Posts Smaller Q3 Loss
Echelon (NASDAQ: ELON) reported Q3 EPS of ($0.05), $0.07 better than the analyst estimate of ($0.12). Revenue for the quarter came in at $9.2 million versus the consensus estimate of $14.3 million.
Echelon sees Q4 2014 EPS of ($0.04)-($0.08), versus the consensus of ($0.09). Echelon sees Q4 2014 revenue of $8.75-9.75 million, versus the consensus of $14.3 million.
“With the sale of the Grid business this quarter, we are now focused entirely on the emerging opportunities in the Industrial Internet of Things (IIoT) as Silicon Valley’s leading independent controls company,” said Ron Sege, Chairman and CEO of Echelon. “This significant step should allow us to more vigorously pursue our strategic objectives of helping our customers converge existing control systems with modern IT ones, and penetrating the growing lighting controls market. To further the latter objective, we are very excited about this quarter’s acquisition of LumeWave, with its innovative outdoor lighting control system and strong US customer base.”
For earnings history and earnings-related data on Echelon (ELON) click here.