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Last $9.76 USD
Change Today +0.28 / 2.95%
Volume 158.4K
SSNI On Other Exchanges
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As of 8:04 PM 05/6/15 All times are local (Market data is delayed by at least 15 minutes).

silver spring networks inc (SSNI) Key Developments

Silver Spring Networks Selects for the Comisión Federal De Electricidad Smart Grid Program in Mexico City

Silver Spring Networks announced its selection for the Comisión Federal de Electricidad’s ‘Reducción de Pérdidas de Energía en Distribución’ (Loss Reduction Projects on Distribution) smart grid project in Mexico City’s Central District. In partnership with Tecnologías EOS, under the Megacable and Hola Innovacion consortium, Silver Spring will deploy a canopy network across various residential and commercial areas of Mexico City’s Central District and provide connectivity solutions to cabinets which house a group of centralized meters. The Silver Spring solution will reduce electricity theft for residents and businesses, while Tecnologías EOS will provide remote indoor displays to help these customers monitor their power usage. Silver Spring will also provide its multi-application IPv6 network and UtilityIQ software suite to connect and manage the individual cabinet meters. Silver Spring will deploy this solution for approximately 140,000 residential and commercial customers within CFE’s Central District in Mexico City that serves approximately 2 million customers in total.

AusNet Services Selects Silver Spring Networks for Advanced Metering Roll-Out

Silver Spring Networks has been selected by AusNet Services to support its roll-out of the Victorian government's mandated Advanced Metering Infrastructure (AMI) program. Silver Spring will deploy and support the initial operations of a multi-application, IPv6 network canopy as an infill solution within AusNet Services' territory across Eastern Victoria. The Silver Spring solution will complement AusNet Services' existing core technology systems.

EVESA Selects Silver Spring Networks, Inc. for Comprehensive Deployment in Paris

Silver Spring Networks, Inc. announced an expansion of its relationship with EVESA to deploy a citywide canopy network connecting the above-ground and subterranean cabinet-based controllers for street and traffic lights across the city, including such iconic neighborhoods as the Louvre, Hotel-de-Ville, Palais-Bourbon, Elysee, the Bourse, and remaining arrondissements. Silver Spring’s smart city platform helps municipalities deploy intelligent lighting systems that dramatically improve system reliability, increase energy efficiency, lower operational costs, extend equipment lifespans, and enhance citizen safety and quality of life. The open, standards-based solution also enables cities to establish a platform for future smart city applications and services such as traffic management, environmental sensors, smart parking, electric vehicle charging, electricity metering, water conservation, and many others.

Metrix Selects Silver Spring Networks for Advanced Metering Program in New Zealand

Silver Spring Networks announced that Silver Spring has been selected by Metrix, to partner with Metrix in delivering Advanced Metering Infrastructure (AMI) services for Trustpower, an electricity generator and energy and telecommunications retailer serving over 225,000 customers across New Zealand. The deployment will leverage Silver Spring’s multi-application, standards-based IPv6 networking platform and deliver two-way communications. This furthers the joint deployment in New Zealand by Silver Spring and Metrix, with Silver Spring’s platform being utilized by Metrix in the Northpower and Wellington Electricity networks to deliver services to retailer Mercury Energy, as well as delivering smart metering-as-a-service to multiple retailers alongside distribution network owner, Counties Power.

Silver Spring Networks, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Silver Spring Networks, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenue of USD 77,411,000 compared to USD 97,164,000 a year ago. Operating income was USD 1,392,000 compared to operating loss of USD 48,000 a year ago. Income before provision for income taxes was USD 1,460,000 compared to USD 90,000 a year ago. Net income attributable to common stockholders was USD 501,000 or USD 0.01 basic and diluted per share compared to income attributable to common stockholders of USD 358,000 or USD 0.01 basic and diluted per share a year ago. Non-GAAP net income was USD 1,502,000 or USD 0.03 basic and diluted per share compared to USD 130,000 or USD 0.00 basic and diluted per share a year ago. Net cash provided by operating activities was USD 13,624,000 compared to USD 1,844,000 a year ago. Purchases of property and equipment were USD 1,851,000 compared to USD 607,000 a year ago. Total non-GAAP net revenue was USD 70,366,000 compared to USD 89,648,000 a year ago. Non-GAAP operating income was USD 2,393,000 compared to non-GAAP operating loss of USD 276,000 a year ago. Adjusted EBITDA was USD 3,937,000 compared to USD 1,332,000 a year ago. For the year, the company reported net revenue of USD 191,288,000 compared to USD 326,858,000 a year ago. Operating loss was USD 87,871,000 compared to USD 41,755,000 a year ago. Loss before provision for income taxes was USD 87,748,000 compared to USD 66,583,000 a year ago. Net loss attributable to common stockholders was USD 89,170,000 or USD 1.84 basic and diluted per share compared to USD 171,807,000 or USD 4.54 basic and diluted per share a year ago. Non-GAAP net loss was USD 24,353,000 or USD 0.50 basic and diluted per share compared to USD 3,061,000 or USD 0.08 basic and diluted per share a year ago. Net cash used in operating activities was USD 8,765,000 compared to net cash from operating activities of USD 14,000 a year ago. Purchases of property and equipment were USD 6,073,000 compared to USD 3,950,000 a year ago.

 

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