Some good news and bad news out of Echelon (ELON) tonight. The company reported a narrower loss than what Wall St expected, but the CEO announced he was stepping down to battle lung cancer but will remain on the Board as an adviser. Well wishes to you Mr. Oshman.
The company reported a non GAAP EPS loss of .11/share which was much better than the .24/share loss Wall St expected. Revenues came in a bit … Read the rest
Echelon (ELON) was a bit slow in releasing this news today or they just didn’t coordinate it well with Telvent (TLVT). At any rate, the Fortum smart grid deal is yet another big win for Echelon (ELON) and cements them as a significant player in the smart grid arena. The press release indicates it will provide ELON with $50 – 60 million (so about 20 mill/year beginning in 2011) over the life of the project … Read the rest