Echelon Corp. (NASDAQ: ELON) said its total revenues for the fourth quarter of 2013 were USD18.1m, down from USD23.8m in the same period last year.
Revenues from Echelon´s systems sales, reflecting sales to utility customers, were USD5.6m for the fourth quarter, down from USD10.7m in the same period last year. Revenues from Echelon´s sub-systems sales, largely from commercial control system customers, were USD12.5m in the fourth quarter, down from USD13.1m a year ago. Included in sub-systems revenues were USD3.2m of sales to Enel in the fourth quarter compared with USD2.9m in the same period last year.
For the full year of 2013, revenues were USD86.2m compared to USD134.0m in 2012. System revenues decreased 53% to USD39.9m and sub-system revenues declined 5% to USD46.3m. Within system revenues, the non-recurring sales of data concentrators to Enel for the full year were USD4.4m, while sub-systems sales to Enel increased 14% to USD7.4m.
Echelon delivers elements necessary to design, install, monitor and control industrial-strength communities of devices within the lighting, building automation, grid, Internet of Things, and other markets worldwide. Echelon develops and sells complete systems and subsystems for target applications, plus system-on-chips (SoCs), embedded software, and commissioning and management tools for Echelon-powered devices installed worldwide. Its website is at http://www.echelon.com and its blog at http://blog.echelon.com/.