Echelon Corporation Proposes Amendment to the Company's Amended and Restated Certificate of Incorporation
Sep 29 15
Echelon Corporation proposed at its EGM to be held on November 17, 2015, the shareholders to approve an amendment to the company's amended and restated certificate of incorporation, to effect, at the discretion of the board of directors.
Echelon Corporation Announces Version 5.0 of Lumewave by Echelon CMS Software
Sep 23 15
Echelon Corporation has announced version 5.0 of its Lumewave by Echelon CMS software. The version 5.0 of Lumewave by Echelon CMS (central management system) software will further simplify installation, and improve the overall control and operation of general lighting systems, specifically in parking structures, as mandated by recent building energy codes: California Title 24-2013 and ASHRAE 90.1-2010. Lumewave by Echelon CMS software is designed to manage the end-to-end lighting control of light fixtures for roadways, cities and municipalities, office buildings, university and corporate campuses, parking areas, stadiums, etc. Echelon's lighting control platform offers options to connect virtually any fixture, any place, wired or wireless, around the world. In total, Echelon has nearly two million lights under control worldwide. The Lumewave by Echelon wireless control system, administered via the CMS, combines adaptive daylight harvesting control with code-mandated occupancy-based control requirements. Administrators now have access to system-wide on-demand reports to view performance and operations; easy access to per node, per group, or the entire site view of current and predictive data; and new charts and graphics to better understand usage and comparisons of current and historical data.
Echelon and APANET Green System Join Forces to Install 7,200 Open System-Based Networked LED Streetlights in Bydgoszcz, Poland
Aug 11 15
Echelon Corporation and APANET Green System were awarded a comprehensive smart lighting and energy reduction project for the city streetlights of Bydgoszcz, Poland. The eco-friendly retrofit will outfit 7,200 streetlights spread across approximately 400 streets utilizing a sophisticated multivendor networked lighting control solution. The project will utilize the Apanet Smart Lighting Controllers, powered by Echelon communications, and the Lumewave by Echelon smart server solution to deliver unrealized value for lighting installation including enhancing safety, reducing maintenance and energy costs as well as improving asset utilization. ENERGA Oswietlenie Ltd. is managing the system installation to be completed by the end of August 2015.
Echelon Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter of 2015
Aug 6 15
Echelon Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $9,363,000 against $8,981,000 a year ago. Loss from continuing operations was $4,516,000 against $2,817,000 a year ago. Loss from continuing operations before provision for income taxes was $5,102,000 against $3,166,000 a year ago. Net loss from continuing operations attributable to Echelon Corporation stockholders was $5,163,000 or $0.12 basic and diluted per share against $3,272,000 or $0.08 basic and diluted per share a year ago. Net loss attributable to Echelon Corporation stockholders was $5,163,000 or $0.12 basic and diluted per share against $8,612,000 or $0.20 basic and diluted per share a year ago. Non-GAAP net loss was $2,030,000 or $0.05 diluted per share against $3,131,000 or $0.07 diluted per share a year ago.
For the six months, the company reported revenues of $19,231,000 against $19,905,000 a year ago. Loss from continuing operations was $6,513,000 against $5,125,000 a year ago. Loss from continuing operations before provision for income taxes was $6,513,000 against $5,751,000 a year ago. Net loss from continuing operations attributable to Echelon Corporation stockholders was $6,587,000 or $0.15 basic and diluted per share against $5,832,000 or $0.13 basic and diluted per share a year ago. Net loss attributable to Echelon Corporation stockholders was $6,587,000 or $0.15 basic and diluted per share against $12,585,000 or $0.29 basic and diluted per share a year ago. Non-GAAP net loss was $3,297,000 or $0.07 diluted per share against $5,006,000 or $0.12 diluted per share a year ago. Net cash used in operating activities was $4,219,000 against $4,688,000 a year ago. Capital expenditures were $16,000 against $400,000 a year ago.
The company provided earnings guidance for the third quarter of 2015. For the quarter, the company’s total revenues are expected to be $9.5 million to $10.3 million, non-GAAP gross margin is expected to be in a range of 58% to 59% of revenue, operating expenses are expected to be in a range of $6.9 million to $7.2 million, non-GAAP loss per share is expected to be between $0.02 to $0.04, based on 44.1 million fully diluted weighted average shares outstanding and GAAP loss per share is expected to be between $0.03 to $0.05.