Echelon Narrows 3Q Loss

The company posted a loss of $5.4 million, or 14 cents per share, compared with a loss of $6.3 million, or 16 cents per share, in the same period a year ago.

Excluding stock options costs, the company lost $4 million, or 10 cents per share, in the latest quarter.

Revenue rose 86 percent to $24.7 million from $13.3 million a year earlier.

Echelon said the results met its guidance and that it is still on track to achieve profitability, based on adjusted earnings, in the fourth quarter. But the company added its "infrastructure product line did not grow as expected, especially in the Americas -- and it will receive special attention in coming months."

"We believe that this is due in part to timing (orders sliding into next year) and also in part due to our channels to market," said Ken Oshman, chairman and chief executive, in a statement.

Shares fell 48 cents to $24.57 in morning trading.