Fri, Apr. 10, 9:32 AM
Thu, Mar. 12, 11:32 AM
- A day after making a fresh 52-week low of $1.06, Echelon (ELON +3.8%) is rebounding a bit. The industrial automation tech provider filed its 2014 10-K this morning.
- Shares remain down 18% from where they traded before Echelon provided subdued Q1 guidance on Feb. 10 to go with a Q4 beat. Its market cap ($48.2M) is just a little above a Q4-ending cash balance of $42.2M.
Wed, Feb. 11, 11:23 AM
- Though Echelon (NASDAQ:ELON) beat Q4 estimates, it's guiding for Q1 revenue of $8.6M-$9.6M and EPS of -$0.04 to -$0.07, in-line with a consensus of $9.4M and -$0.06 and slightly below at the midpoints.
- When asked about the outlook on the CC (transcript), CFO Bill Slakey mentioned Echelon expects its outdoor lighting control systems business to grow Q/Q, but its building automation business to be "slightly flat to down."
- Also: After accounting for the sale of its smart grid products unit, gross margin fell to 55.7% from 60.8% a year ago. Echelon attributes the drop to lower sales to Italian utility Enel.
- Slakey estimated Echelon needs annual sales of $55M-$65M to breakeven. The 2015 revenue consensus is currently at $42.2M, and the EPS consensus at -$0.25.
- Shares have fallen to new 52-week lows. Echelon ended 2014 with $42.2M in cash/short-term investments, and $15.4M in long-term liabilities. Its market cap is currently $54.1M.
- Q4 results, PR
Tue, Feb. 10, 4:11 PM
Mon, Feb. 9, 5:35 PM
Wed, Jan. 14, 1:20 PM
- A slew of tech companies have posted steep losses on a day the Nasdaq is down 1%.
- Major decliners include Pandora (P -5%), LED giant Cree (CREE -5.9%), cloud HR software leader Workday (WDAY -4.1%), chipmakers Ambarella (AMBA -5.3%), Pixelworks (PXLW -3.7%), Audience (ADNC -3.6%), Spansion (CODE -4.4%), and Cypress (CY -3.9%) (the last two are merger partners), OLED materials/IP provider Universal Display (OLED -4.2%), industrial automation tech provider Echelon (ELON -4.8%), and P2P lending giant/recent IPO LendingClub (LC -4.8%).
- Possibly affecting OLED: LG Display (NYSE:LPL) has been ordered to halt operations at an OLED TV panel production line following a gas leak that killed two workers.
- Cree and Pandora aren't far removed from their 52-week lows; the former reports on Jan. 20, and the latter on Feb. 5. LendingClub, whose selloff follows a volatile Tuesday, could be affected by a neutral coverage launch from Susquehanna.
Nov. 6, 2014, 4:22 PM
Nov. 5, 2014, 5:35 PM
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Aug. 7, 2014, 12:47 PM
Aug. 6, 2014, 5:54 PM
- Echelon (NASDAQ:ELON) expects Q3 revenue of $13.5M-$15M, below a $17.6M consensus.
- The industrial automation technology provider says it has decided to scale back its smart grid product business to "support existing commitments only," unless a buyer is soon found. A $4.1M charge related to be business was taken in Q2.
- Grid division revenue fell 54% Y/Y to $6.1M. Industrial division revenue fell 21% to $9M.
- GAAP R&D spend fell 14% Y/Y to $4.4M, and sales/marketing spend 4% to $3.9M. G&A spend rose 11% to $3.6M.
- Shares -8.5% AH. Q2 results, PR
Aug. 6, 2014, 4:41 PM
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May. 27, 2014, 10:26 AM
- Echelon (ELON) is soaring, and Control4 (CTRL) is posting a more moderate gain, after the FT reported on Monday Apple is prepping a home automation software platform for its iOS hardware, and is in talks with OEMs to certify their hardware for use with it.
- Echelon also flew higher in response to the Google/Nest deal, but soon gave back a large portion of its gains.
May. 26, 2014, 3:55 PM
- The FT reports Apple (AAPL) plans to show off a software platform that would "turn the iPhone into a remote control for lights, security systems and other household appliances" at its June 2-6 WWDC conference.
- Apple's home automation solution will reportedly work with Apple TV (in addition to the iPhone/iPad), and do things such as allow a home’s lights to "automatically come on when the owner enters the house, using their iPhone to wirelessly signal their arrival." The company is said to be talking with OEMs to certify their products.
- The report follows Google's $3.2B deal to buy smart thermostat/smoke detector maker Nest Labs, which was founded by iPod "godfather" Tony Fadell and features many other ex-Apple engineers/designers. Last year, Microsoft bought home automation startup R2 Studios, reportedly beating out Apple and Google along the way.
- As it is, Apple has launched, or is reported to be launching, a slew of platforms meant to allow iDevices to connect/interact with 3rd-party hardware. Others include CarPlay, iBeacon, and a (rumored) mobile payments service. The company is also expected to launch (via iOS 8) a Healthbook app that will interact with various health sensors, and possibly an iWatch.
- Automation hardware/software vendors Control4 (CTRL) and Echelon (ELON) could move on the report. Each shot higher after Google/Nest was announced.
May. 8, 2014, 4:20 PM
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