Echelon Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. The company's revenues were $7.837 million in the first quarter, up from $7.703 million in the first quarter of 2017. GAAP net loss for the quarter was $1.379 million, or $0.30 per share, compared to $1.261 million, or $0.28 per share in the same period last year. Loss from operations was $1.643 million compared to $1.202 million in the first quarter of 2017. Loss before provision for income taxes was $1.385 million compared to $1.267 million in the first quarter of 2017. Non-GAAP net loss was $0.935 million, or $0.21 per share, compared with non-GAAP net loss of $0.794 million, or $0.18 per share in the first quarter of 2017. Net cash used in operating activities was $1.353 million compared to $1.496 million in the first quarter of 2017. Capital expenditures were $87,000 compared to $16,000 in the first quarter of 2017.

For the second quarter of 2018, total revenues are expected to be in a range of $7.3 million to $7.7 million. Gross margin is expected to be in a range of 55% to 57%. GAAP loss per share is expected to be between $0.34 and $0.47. Excluding expected non-cash equity compensation charges of $0.11 per share, non-GAAP loss per share is expected to be between $0.23 and $0.36.