Silver Spring Networks Inc (SSNI) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.02 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $-0.06. The company posted revenue of $71.85 million in the period, compared to analysts expectations of $68.18 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.
Many Wall Street Analysts have commented on Silver Spring Networks Inc. Silver Spring Networks Inc was Upgraded by Raymond James to ” Strong Buy” on Jun 30, 2016.
Silver Spring Networks Inc closed down -0.07 points or -0.56% at $12.41 with 2,23,044 shares getting traded on Tusday. Post opening the session at $12.52, the shares hit an intraday low of $12.34 and an intraday high of $12.55 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 7, 2016, Scott A. Lang (Board Chair; ExecutiveChairman) sold 144,542 shares at $13.30 per share price. According to the SEC, on May 25, 2016, Richard S. Jr. Arnold (General Counsel & Secretary) sold 7,833 shares at $13.19 per share price. On May 19, 2016, Raj Vaswani (Chief Technology Officer) sold 458 shares at $12.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Silver Spring Networks Inc. is engaged in creating building and deploying large scale networks and solutions enabling the Internet of things for critical infrastructure. The Company provides a networking platform and solutions. Its networking platform enables customers to communicate with devices connected to the power grid. Its networking platform comprises its hardware such as access points and relays its UtilOS network operating software and its GridScape management and security software. Its SilverLink Sensor Network helps customers use the data generated by devices on the network in order to provide insights for decision-making. Its solutions include advanced metering distribution automation demand-side management and street lights. Its services include professional services managed services and software as a service (SaaS) and customer support.