Today reminds me why I don’t particularly enjoy earnings season.. it’s a heckuvva lotta work keeping up!  Echelon (ELON) reported today too and beat Wall St estimates by a decent margin.  They reported a non GAAP loss of .18/share on revenues of $18.1 million.  While that beat estimates of -.33/share on revenues of $16.37 million, it’s basically a flat quarter over the year ago quarter. 

The company is issuing guidance.  They see revs at $24 – 26 million next quarter with a non GAAP EPS loss of .15 – .18/share.  That’s inline with what analysts expected on the revenue side, but better than the .23/loss analysts expected for next quarter.

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CEO Bob Maxfield commented on the quarter: “The first quarter was highlighted by improved performance in the LonWorks product line, as we saw a recovery in some of our core markets and strong growth in emerging markets such as demand response.  As the year progresses and assuming the recovery of the economy continues, we anticipate improved conditions in other key LonWorks markets. This, combined with the eventual funding of government stimulus money that is still unfolding domestically, and the ongoing deployments of our NES contracts, our expectation for modest growth in 2010 remains intact. Looking ahead to 2011 and beyond, we believe the greater market adoption of smart grid infrastructure, along with a growing emphasis on energy efficiency ideally positions Echelon’s two product lines to benefit from growing demand.”

The company has also indicated that it has filed a mixed shelf with the SEC which provides the company the option to offer and sell up to $200 million in common stock, preferred stock, debt securities, warrants, etc over the next 3 years.  They intend to use the proceeds for general corporate purposes.

Shares are holding firm in after hours trading so far.  There remains strong support in ELON around the 8 level as it continues to work on the right side of a new base.