Industrial control systems and software maker Echelon Corp. said Monday its first-quarter loss widened due to a decline in revenue from networked energy services customers.
Echelon lost $6.8 million, or 17 cents per share, during the quarter ended March 31, compared with a loss of $5.6 million, or 14 cents per share, during the same quarter last year.
Echelon's total revenue fell to $35.6 million from $39.3.
Analysts polled by Thomson Financial forecast a loss of 15 cents per share for the quarter on revenue of $33.2 million.
Much of the revenue decline was the result of a drop in revenue from networked energy services customers, to $20.5 million from $24.9 million. The year-ago period, though, included $14.4 million of revenue that was deferred from earlier periods.
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