- Silver Spring (NYSE:SSNI) followed up its Q2 beat by guiding in its prepared remarks (.pdf) for Q3 revenue of $70M-$75M (in-line with a $73.1M consensus) and 2015 revenue of $275M-$287M (narrowed from a prior $270M-$290M, in-line with a $282.8M consensus).
- EPS guidance is softer: Q3 EPS of $0.00-$0.05 vs. a $0.05 consensus, and 2015 EPS of -$0.04 vs. a -$0.03 consensus. Upside to full-year sales guidance is possible if certain previously-announced contracts commence before year's end. Positive full-year cash flow is expected.
- The smart grid hardware/software provider added 692K network endpoints in Q2, up from Q1's 548K and bringing the total to 21.5M. It expects to reach 23M by year's end. Product revenue rose 6% Y/Y to $45M; services revenue rose 14% to $24M, with managed service/SaaS revenue rising 19% to $11M. International revenue more than doubled Y/Y, and was 21% of total revenue.
- Boosting Q2 EPS: Gross margin rose to 43.4% from Q1's 40.4% and Q2 2014's 32.4%, and operating expenses fell 8% Y/Y to $28M. Silver Spring ended Q2 with $119M in cash, and no debt.
- Shares have risen to $11.75 AH.
- Q2 results, PR