Echelon Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. The company's revenues were $7.8 million in the first quarter, up from $7.5 million in the previous quarter and down from $8.6 million in the first quarter of 2016. The quarter over quarter increase in revenue was attributable to an improvement in its embedded systems business, while the year over year decrease resulted from the end of its shipments to Enel. GAAP net loss for the quarter was $1.2 million, or $0.27 per share, roughly flat from last quarter's net loss of $1.2 million, or $0.28 per share, and above the net loss of $0.9 million, or $0.20 per share, in the same period last year. The year over year increase in its net loss was due to the reduction in its revenues and the corresponding impact on gross profits. Non-GAAP net loss for the first quarter was $0.7 million, or $0.17 per share, compared with non-GAAP net loss of $0.5 million, or $0.11 per share in the previous quarter and $1.2 million, or $0.27 per share a year ago. Loss from operations was $1.1 million compared with $0.66 million a year ago. Loss before provision for income taxes was $1.2 million compared with $0.87 million a year ago. Net cash used in operating activities was $1.5 million compared with $2.4 million a year ago. Capital expenditures were $0.02 million compared with $0.005 million a year ago.

For the second quarter of 2017, the company's total revenues are expected to be in a range of $7.2 million to $7.6 million, gross margin is expected to be in a range of 53% to 55%, GAAP loss per share is expected to be between $0.26 and $0.40, excluding expected non-cash equity compensation charges of $0.09 per share, non-GAAP loss per share is expected to be between $0.17 and $0.31.