Echelon Earnings: Here’s Why Investors are Happy Now
Echelon Corporation (NASDAQ:ELON) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.02%.
Echelon Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.04 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Decreased 37.57% to $25.18 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Echelon Corporation reported adjusted EPS loss of $0.04 per share. By that measure, the company beat the mean analyst estimate of $-0.16. It beat the average revenue estimate of $24.61 million.
Quoting Management: “Despite limited visibility in the smart grid market, we made solid progress executing on our strategy and creating a more leveraged financial model in the quarter,” said Ron Sege, Chairman and CEO of Echelon. “Strong pilots in various territories make us optimistic about our prospects as the market returns.”
Key Stats (on next page)…