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Last $11.15 USD
Change Today +0.17 / 1.55%
Volume 327.7K
SSNI On Other Exchanges
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As of 8:04 PM 08/27/15 All times are local (Market data is delayed by at least 15 minutes).

silver spring networks inc (SSNI) Key Developments

Silver Spring Networks, Inc. Presents at 17th Annual Pacific Crest Global Technology Leadership Forum 2015, Aug-11-2015 11:00 AM

Silver Spring Networks, Inc. Presents at 17th Annual Pacific Crest Global Technology Leadership Forum 2015, Aug-11-2015 11:00 AM. Venue: The Sebastian, 16 Vail Road, Vail, CO 81657, United States. Speakers: James P. Burns, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, Scott A. Lang, Chairman, Chief Executive Officer and President.

Silver Spring Networks, Inc. Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-13-2015 04:00 PM

Silver Spring Networks, Inc. Presents at 35th Annual Canaccord Genuity Growth Conference, Aug-13-2015 04:00 PM. Venue: InterContinental Boston, 510 Atlantic Avenue, Boston, MA 02210, United States. Speakers: James P. Burns, Chief Financial Officer, Principal Accounting Officer and Executive Vice President.

Silver Spring Networks and CPFL Energia Expand Brazilian Smart Grid Program with Distribution Automation

Silver Spring Networks and CPFL Energia announced an extension of their smart grid program, with the addition of a grid reliability and Distribution Automation program for cities in the interior of the state of São Paulo. The expansion of CPFL’s smart grid program leverages the existing investment in Silver Spring’s mesh networking platform and is built upon the successful Phase 1 Advanced Metering Infrastructure deployed for ‘Grupo A’ customers, the large-scale commercial and industrial (C&I) customers across CPFL Group’s eight distribution companies. The new Silver Spring and CPFL Distribution Automation program will leverage Silver Spring’s multi-application network to help enable better grid reliability for nearly 4 million people in over fifty cities across CPFL’s service territory in the state of São Paulo (including Bauru, Campinas, Jundiaí, Ribeirão Preto, Santos, São José do Rio Preto, and Sorocaba, among others). Under this project, more than 600 reclosers on the distribution network, supervised and controlled in real time by CPFL's Operations Center through Silver Spring's platform, will use the mesh network technology, allowing energy flow redirection to avoid service outages and accelerate system restoration. This solution replaces the data-communication-through-cellular network and ensures the required reliability and communication performance for critical applications, allowing faster responses and reduced power outages in case of faults, resulting in better service quality as well as reducing operating and maintenance costs. The wide geographic area of the service territory involved makes this program one of the large Distribution Automation initiatives in South America.

Silver Spring Networks, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Silver Spring Networks, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's net revenue was $77.2 million compared with $41.6 million a year ago. Operating loss was $16.5 million compared with $24.7 million a year ago. Loss before income taxes was $16.5 million compared with $24.6 million a year ago. Net loss was $16.2 million or $0.32 per diluted share compared with $24.6 million or $0.51 per diluted share a year ago. Non-GAAP net income was $1.1 million or $0.02 per diluted share compared with loss of $9.9 million or $0.20 per diluted share a year ago. Net cash provided by operating activities was $9.6 million compared with net cash used in operating activities of $3.4 million a year ago. Purchases of property and equipment were $0.54 million compared with $1.96 million a year ago. Total non-GAAP net revenue was $69.1 million compared with $63.6 million a year ago. Non-GAAP operating income was $0.83 million compared with loss of $9.97 million a year ago. Adjusted EBITDA was $2.4 million compared with loss of $8.5 million a year ago. For the six months, the company's net revenue was $220.8 million compared with $85.8 million a year ago. Operating income was $17.6 million compared with operating loss of $51.8 million a year ago. Income before income taxes was $17.96 million compared with loss of $51.8 million a year ago. Net income was $18.7 million or $0.37 per diluted share compared with net loss of $52.4 million or $1.09 per diluted share a year ago. Non-GAAP net loss was $4.6 million or $0.09 per diluted share compared with $18.8 million or $0.39 per diluted share a year ago. Net cash provided by operating activities was $9.2 million compared with net cash used in operating activities of $6.7 million a year ago. Purchases of property and equipment were $1.91 million compared with $3.7 million a year ago.

New Braunfels Utilities Selects Silver Spring Networks for Smart Grid and Smart Water Program

Silver Spring Networks announced that is has been selected by New Braunfels Utilities (NBU) to deploy its multi-application network across the city for a comprehensive Dynamic Metering Infrastructure program supporting both electricity and water services. The Silver Spring smart grid networking platform will help New Braunfels Utilities control costs, improve outage response, enhance customer communications, and deliver expanded energy and water services to its customers. New Braunfels Utilities is a municipally owned utility that delivers electricity, water, and wastewater services for more than 60,000 residents of New Braunfels, a fast growing city along the Austin-to-San Antonio Interstate-35 corridor in central Texas. Silver Spring delivers a ready-to-deploy Municipal and Cooperative Utility solution that makes it easy to rapidly scope and deploy sophisticated Advanced Metering Infrastructure for electricity, water, and natural gas customers, Demand Response, Distribution Automation, and other critical infrastructure and smart city applications over time. Silver Spring is already working with municipal and cooperative utilities such as Choptank Electric Cooperative, City Utilities of Springfield, CPS Energy, Modesto Irrigation District, Sacramento Municipal Utility District, Snohomish County Public Utility District and others, to unlock smart grid benefits for their consumers today.

 

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