This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Echelon's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: ELON

And now, I'd like to turn the call over to Ron Sege. Ron?

Ronald A. Sege

Thank you, Annie. Good afternoon and thank you for joining us for our third quarter conference call. First, I would like to take a moment to acknowledge, Ken Oshman, the longtime Chairman and CEO of Echelon. As you know, Ken passed away in early August. A sad time for all but especially for those of us who had known and worked with Ken for so long. He was a brilliant, well-respected man and a visionary leader, we all miss him dearly.

As you saw in our release earlier today, we announced an important development with our Edge Control Node project at Duke Energy. I will provide more detail on that later in my remarks, but first, I will go through the highlights of the quarter to provide some context. I'm pleased to report that we once again made progress towards our financial goals of growth and profitability this quarter. Strength in our utility markets grew 62% year-over-year growth in topline performance to $43.8 million and non-GAAP profitability of $0.04 per share. We were also cash flow positive for the quarter. We continue to ship products and volume to large utility customers, achieved a critical milestone in Brazil, built momentum with our partnership in China and achieved new wins in our street lighting vertical. Our recent European customer and partner event reinforced growing interest in our vision of a proven, open standard energy-control networking platform that runs metering and many other applications. It also reinforced our geographic targeting strategy, ranking attractiveness in terms of energy shortages, non-technical loss rates, political backing and distribution grid health.

Overall, we remained confident in our outlook for a strong 2011 with annual revenue growth at the high-end of our previously guided range of 40% and our commitment to our goal of full year non-GAAP profitability for 2012.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs