Revenue Update on Echelon Corporation(NASDAQ:ELON)

Echelon Corporation(NASDAQ:ELON) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Earnings per share were $-0.13.

Echelon Corporation (ELON) made into the market gainers list on Wednesdays trading session with the shares advancing 2.94% or 0.1499 points. Due to strong positive momentum, the stock ended at $5.2499, which is also near the day’s high of $5.2499. The stock began the session at $5.06 and the volume stood at 4,511 shares. The 52-week high of the shares is $7.5 and the 52 week low is $4.41. The company has a current market capitalization of $23 M and it has 44,30,055 shares in outstanding.

Echelon Corporation develops open-standard control networking platforms and delivers elements necessary to design install monitor and control communities of devices. The Company’s products enable everyday devices such as air conditioners outdoor lighting appliances electricity meters light switches thermostats and valves to be inter-connected and be part of the Industrial Internet of Things (IIoT) market. The Company’s IIoT business sells products and services that form embedded control platforms such as LONWORKS and IzoT and which include components control nodes and development software. The products are sold to original equipment manufacturers (OEMs) to build into their industrial application solutions. The Company offers a solution consisting of outdoor lighting controllers segment controllers gateways and software to end customers such as municipalities cities campuses and commercial enterprises. The Company markets its products under the Echelon brand.

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