Echelon Reports Second Quarter 2018 Results
ECHELON (ELON)
Last echelon earnings: 8/2 04:05 pm
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US:NASDAQ Investor Relations:
investors.echelon.com
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Source: PR Newswire
SANTA CLARA, Calif., Aug. 2, 2018 /PRNewswire/ -- Echelon Corporation (NASDAQ: ELON) today announced financial results for the second quarter ended June 30, 2018. "Momentum from the first quarter carried into the second quarter with revenue coming in above our expectations at $7.9 million, with particular strength in our embedded business," said Ron Sege, Chairman and CEO. "Our new SmartServer™ IoT continued to perform well in early beta trials and was designated as 'qualified' by one of our largest customers. We continued to see interest in our smart city and smart enterprise intelligent lighting solutions with a new city LED street lighting win and deployments in a number of shopping malls."Financial HighlightsRevenue: $7.9 million. GAAP Operating expenses $6.0 million; Non-GAAP Operating expenses $5.6 million. GAAP Net Loss: $1.2 million; GAAP Net Loss per Share: $0.27. Non-GAAP Net Loss: $0.7 million; Non-GAAP Net Loss per Share: $0.16. Cash & investments:
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