As of September 30, 2014, Michael T. Anderson, Senior Vice President and General Manager, Grid Modernization, is no longer employed by Echelon Corporation. Mr. Anderson's position was terminated without cause as a result of the sale of the Grid Modernization business.

Echelon Corporation reported consolidated unaudited earnings results for the six months ended June 30, 2014. For the quarter, the company reported total revenues of $32,830,000 compared with $86,160,000 for the same period last year. Loss from operations was $12,234,000 compared with $16,170,000 for the same period last year. Loss before provision for income taxes was $12,861,000 compared with $18,107,000 for the same period last year. Net loss attributable to Echelon Corporation shareholders was $12,586,000 or $0.29 basic and diluted per share compared with $17,610,000 or $0.41 basic and diluted per share for the same period last year. On pro-forma basis total revenues of $19,905,000 compared with $45,857,000 for the same period last year. Loss from operations was $5,407,000 compared with $11,189,000 for the same period last year. Loss before provision for income taxes was $6,034,000 compared with $13,126,000 for the same period last year. Net loss attributable to Echelon Corporation shareholders was $6,115,000 or $0.14 basic and diluted per share compared with $13,437,000 or $0.31 basic and diluted per share for the same period last year.