Echelon Corporation announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2017. Revenues were $7.8 million in the third quarter, down from $8.2 million a year ago. GAAP net loss for the quarter was $0.9 million, or $0.19 per share, compared to net loss of $1.2 million, or $0.28 per share in the same period last year. Non-GAAP net loss for the third quarter was $0.6 million, or $0.14 per share, compared with $1.1 million, or $0.25 per share a year ago. Loss from operations was $0.695 million against $1.148 million a year ago. Loss before provision for income taxes was $0.850 million against $1.205 million a year ago.

For the nine months, the company reported revenue of $23.637 million against $24.887 million reported last year. Net loss was at $3.421 million or $0.77 per basic and diluted share against $2.866 million or $0.65 per basic and diluted share reported last year. Loss from operations was $2.956 million against $3.027 million a year ago. Loss before provision for income taxes was $3.396 million against $2.786 million a year ago. Non-GAAP net loss was $2.275 million, or $0.51 per share, compared with $2.894 million, or $0.65 per share a year ago. Net cash used in operating activities was at $1.711 million against $2.179 million reported last year. Capital expenditures were at $0.072 million against $0.084 million reported last year.

The company provided earnings outlook for the fourth quarter of 2017. Total revenues are expected to be in a range of $7.8 million to $8.2 million. GAAP loss per share is expected to be between $0.24 and $0.32. Excluding expected non-cash equity compensation charges of $0.09 per share, non-GAAP loss per share is expected to be between $0.15 and $0.23.