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Last $11.20 USD
Change Today -0.11 / -0.97%
Volume 154.4K
SSNI On Other Exchanges
New York
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

silver spring networks inc (SSNI) Snapshot

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52 Week High
06/22/15 - $15.20
52 Week Low
12/1/14 - $6.90
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silver spring networks inc (SSNI) Details

Silver Spring Networks, Inc. provides networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. The company’s networking platform provides two-way communication between the utility back office and devices on the power grid. Its networking platform consists of hardware, such as access points and relays; UtilOS, a network operating software; and GridScape management and security software. The company’s analytic platform enables its customers to use the data generated by devices on the network to provide insights for decision making. It offers various solutions include advanced metering solution, which provides utilities with two-way communication, enabling utilities to remotely perform functions, such as reading meter usage, capturing time-of-use consumption data, connecting and disconnecting service, and detecting power outages; distribution automation solution that provides two-way communication from distribution devices along the power grid to the back office or substations, providing utilities with real-time information for grid monitoring and control; demand-side management consisting of energy efficiency solutions, demand response, and electric vehicle charging management; and street light solutions. In addition, the company provides professional services that include network design and optimization, deployment support, software and systems integration, program management, consulting, and training services; managed services and software as a service; and technical, network, and product support at various service levels. It operates in the United States, Canada, Australia, New Zealand, South America, Asia, and Europe. The company was formerly known as Real Time Techcomm, Inc. and changed its name to Silver Spring Networks, Inc. in August 2002. Silver Spring Networks, Inc. was founded in 2002 and is headquartered in Redwood City, California.

623 Employees
Last Reported Date: 05/11/15
Founded in 2002

silver spring networks inc (SSNI) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $540.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $128.7K
Vice Chairman and Executive Vice President
Total Annual Compensation: $400.0K
Chief Technology Officer
Total Annual Compensation: $315.0K
Executive Vice President of Global Sales & De...
Total Annual Compensation: $382.5K
Compensation as of Fiscal Year 2014.

silver spring networks inc (SSNI) Key Developments

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.

Silver Spring Networks, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015; Revises Earnings Guidance for the Full Year of 2015

Silver Spring Networks, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenue of $143,640,000 against $44,229,000 a year ago. Operating income was $34,141,000 against operating loss of $27,171,000 a year ago. Income before provision for income taxes was $34,429,000 against loss before provision for income taxes of $27,208,000 a year ago. Net income was $34,905,000 or $0.69 per diluted share against net loss of $27,807,000 or $0.58 per diluted share a year ago. Non-GAAP net loss was $5,649,000 or $0.11 per basic and diluted share against $8,963,000 or $0.19 per basic and diluted share a year ago. Net cash used in operating activities was $455,000 against $3,260,000 a year ago. Purchases of property and equipment were $1,374,000 against $1,742,000 a year ago. Total non-GAAP net revenue was $63,099,000 against $71,850,000 a year ago. Non-GAAP operating loss was $5,523,000 against $8,327,000 a year ago. Adjusted LBITDA was $3,983,000 against $6,909,000 a year ago. For second quarter of 2015, The company expects non-GAAP revenue of $65 million to $70 million, 39% to 41% non-GAAP gross margin. At the midpoint, this represents just over 30% growth in gross profit versus the prior year period. non-GAAP loss per share of $0.04 to $0.08 on a share count of about $50 million. For the full year, The company expects non-GAAP gross profit to grow by over 20% year-over-year at the midpoint of the range. Total non-GAAP revenue to range between $270 million and $290 million. Non-GAAP gross margin of approximately 39% to 41%. The company has substantially increased GAAP outlook for the year 2015 to a range of $375 million to $400 million in revenue, which is roughly double previous outlook, and the company now expect $0.40 to $0.80 in earnings per share. The improvement of GAAP outlook is driven by an accelerated recognition of deferred revenue caused by additional receipt of customer expectances, combined with a change in accounting estimate, which impacts ongoing revenue.

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.


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