echelon corp (ELON) Key Developments
Echelon Corporation Announces Executive Changes, Effective from April 24, 2015
Apr 10 15
Echelon Corporation appointed Mike Marszewski as vice president and chief financial officer, effective April 24, 2015. Mr. Marszewski will succeed William Slakey, Echelon’s executive vice president and chief financial officer, who is leaving to take a position with another company. Mr. Marszewski is currently Echelon’s vice president and chief accounting officer. Having been with the Company since 1999, he has served in a variety of financial positions and played important roles in strategic projects including acquisitions, divestitures and private placement of securities. Previously, Mr. Marszewski was Divisional Controller at Stanford Telecommunications, which was acquired by Newbridge Networks.
Echelon Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of 2015
Feb 10 15
Echelon Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $9,647,000 compared to $12,518,000 a year ago. Loss from continuing operations was $2,471,000 compared to $969,000 a year ago. Loss from continuing operations before provision for income tax was $2,463,000 compared to $1,482,000 a year ago. Net loss attributable to the company was $2,560,000 or $0.06 per basic and diluted share compared to $4,023,000 or $0.09 per basic and diluted share a year ago. Non-GAAP net loss was $2,191,000 or $0.05 per diluted share compared to $1,405,000 or $0.03 per diluted share a year ago.
For the year, the company reported revenues of $38,730,000 compared to $45,857,000 a year ago. Loss from continuing operations was $15,237,000 compared to $12,491,000 a year ago. Loss from continuing operations before provision for income tax was $15,407,000 compared to $14,428,000 a year ago. Net loss attributable to the company was $24,333,000 or $0.56 per basic and diluted share compared to $17,610,000 or $0.41 per basic and diluted share a year ago. Non-GAAP net loss was $9,279,000 or $0.21 per diluted share compared to $7,628,000 or $0.18 per diluted share a year ago. Net cash used in operating activities was $10,806,000 compared to $1,079,000 a year ago. Capital expenditures were $703,000 compared to $971,000 a year ago.
The company provided earnings guidance for the first quarter of 2015. For the first quarter of 2015, total revenues are expected to be $8.6 million to $9.6 million. Non-GAAP gross margin is expected to be in a range of 55% to 57% of revenue. Non-GAAP loss per share is expected to be between $0.04 to $0.07, based on 44 million fully diluted weighted average shares outstanding. GAAP loss per share is expected to be between $0.06 to $0.09. Cash burn for the quarter is expected to exceed non-GAAP loss by $1.0 to $2.0 million due to expected payments as a result of the sale of Grid business.
Echelon Corporation Expands its IzoT Platform for the IIot to Enable Multiprotocol Wired and Wireless Building Automation Systems
Jan 26 15
Echelon Corporation has expanded its multiprotocol IzoT platform for the IIoT to include new Wi-Fi control modules and integrated support for BACnet/MS-TP. Echelon is demonstrating a converged building control and lighting control network supporting both wired and wireless devices that use LonTalk/FT, LonTalk/IP, BACnet/IP and BACnet/MS-TP protocols in booth #3434 at the AHR 2015 show. Under the hood of Echelon's AHR demo of the IzoT platform for the IIoT market, which can control both building automation and lighting, over wired or wireless connections, and using multiple network protocols. Combined with Internet Protocol (IP) technologies, the IzoT platform supports the integration of formerly disparate building and lighting control systems while reducing development, startup, commissioning and operating time and costs. In fact, it is the only platform with a rich set of profiles to speed and simplify the development of building controls for both wired and wireless devices. The IzoT platform includes a complete development environment, commissioning tools, protocol stacks, routers, chips and modules for engineers creating control devices and applications for the IIoT. Echelon has enhanced its IzoT FT 6000 chips and FT 6000 evaluation and development kit (EVK) to support BACnet/MS-TP in addition to the other BACnet and LonTalk protocol support. By providing a common platform for developing multiprotocol, peer-to-peer, wired-and-wireless control products, Echelon's IzoT platform can: Enable developers to build responsive, reliable and scalable control devices that are IP-enabled; Reduce installation, maintenance and operating costs for building owners; Lower R&D costs for OEMs; Help OEMs to expand their addressable markets using fewer product SKUs (stock keeping units); Allow control networking to be applied to new assets that previously either did not use control networking or used proprietary control technologies. IzoT Products Bridge Legacy and New Technologies. The Echelon IzoT platform enables the billion or more existing industrial OT devices to operate in modern IT environments. Echelon's IzoT platform products include: IzoT FT 6000 chips. The IzoT FT 6050 System-on-Chip (SoC) is a single-chip solution for reliable, scalable and cost-effective controls ”using flexible free topology (FT) twisted-pair wired connectivityâ ”for creating communities of devices in the IIoT. New for 2015, the FT 6000 adds support for BACnet MS-TP in addition to BACnet/IP-FT LonTalk/IP and classic LonTalk/FT, all in a single chip. This multiprotocol capability is built into the IzoT chips, thus relieving developers of the low-level details of the LonTalk and BACnet protocols and allowing them to focus on their value-added application development; IzoT CPM 4200 Wi-Fi modules. The IzoT CPM 4200 Wi-Fi module is a compact stamp module that can be embedded into any device requiring a wireless Wi-Fi-based controller or interface. The IzoT CPM 4200 Wi-Fi module enables existing LonWorks customers to seamlessly expand their wired networks with wireless devices, while at the same time enabling new customers to create art wireless IIoT systems that leverage the rich set of IzoT profiles and types for IIoT applications. Building automation OEMs can use the same profiles and data types as existing FT twisted-pair products to achieve fast time to market; IzoT U60 FT network interface module. The IzoT U60 FT network interface module is a board-level module that can be easily integrated into any controller or device. The U60 reduces development and maintenance costs for next-generation building controllers that must interface with a variety of building control networks, including BACnet/IP, BACnet/MS-TP, LonTalk/IP and classic LonTalk; IzoT router. This next-generation area controller and router bridges between LonTalk/IP and BACnet/IP on Ethernet and classic LonTalk, LonTalk/IP and BACnet/IP on Free Topology (FT) twisted-pair physical media.
Echelon Corporation to Report Q4, 2014 Results on Feb 10, 2015
Jan 20 15
Echelon Corporation announced that they will report Q4, 2014 results at 4:30 PM, US Eastern Standard Time on Feb 10, 2015
Echelon Corporation, Q4 2014 Earnings Call, Feb 10, 2015
Jan 20 15
Echelon Corporation, Q4 2014 Earnings Call, Feb 10, 2015