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January 15, 2014
09:00 EDTELONEchelon falls 5.2%
Echelon is down 5.2%, or 16c, to $2.92
News For ELON From The Last 14 Days
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August 19, 2014
08:01 EDTELONEchelon announces Lumewave acquisition
Echelon announced that it has acquired Lumewave. Echelon will sell the Lumewave products, which include individual lighting controllers, gateways, and management and maintenance software, and will incorporate Lumewave’s established sales channels in North America into its existing channels worldwide. Terms of the transaction were not disclosed.
August 6, 2014
18:54 EDTELONOn The Fly: After Hours Movers
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16:58 EDTELONEchelon to scale back Grid business
Echelon CEO Ron Sege stated, ”We have made the strategic decision to focus substantially all of the resources of our company to capitalize on the growing opportunity in the Industrial Internet of Things. As part of this decision, and after a thorough process of pursuing strategic alternatives for our Grid business, we have decided to scale back this business significantly to support existing commitments only, unless we are able to find a buyer in the very near-term. We believe that this will improve our financial model and accelerate our transition to the IIoT". As a result of the examination of the current fair market value of the Grid business, the company has recorded non-cash impairment charges of $4.1M in Q2. The company also anticipates a restructuring charge and other related charges in connection with the strategic decision announced today, the size of which will be determined in Q3.
16:56 EDTELONEchelon sees Q3 revenue $13.5M-$15-0M, consensus $17.63M
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16:54 EDTELONEchelon reports Q2 adjusted EPS (10c), consensus (14c)
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