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Echelon Corporation (NASDAQ:ELON) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are flat.
Echelon Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.06 in the quarter versus EPS of $-0.10 in the year-earlier quarter.
Revenue: Decreased 41.29% to $23.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Echelon Corporation reported adjusted EPS loss of $-0.06 per share. By that measure, the company beat the mean analyst estimate of $-0.14. It missed the average revenue estimate of $23.87 million.
Quoting Management: “While 2012 was a challenging year in the smart grid market, we made some significant strides in Echelon’s strategic transformation. We entered new territories with our subsystems strategy, developed new advanced metering products via our Echelon-Holley joint venture and successfully implemented cost saving and gross margin enhancing initiatives,” said Ron Sege, chairman and CEO of Echelon.
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