16 Aug '11, 9pm

Silver Spring: Revenue Grows, Losses Shrink in 2Q: Silver Spring Networks is still losing money, but the gap i...

Silver Spring Networks is still losing money, but the gap is shrinking as it preps for its initial public offering. The company--which makes mesh networking equipment and software for controlling power delivery and consumption--filed an amended S-1 today that showed that it generated $115.5 million in the first half of 2011, well above the $21.7 million from the first half of 2010. The net loss for the six month period came to $54.4 million, below the $77 million loss reported for the first half of 2010. The second quarter even bested the results from the first. In the first quarter, revenue came to $46.7 million and net losses came to $33.4 million. That means that the second quarter numbers came to $68.8 million in revenue and a $21.1 million net loss. Higher revenue, shallower loss. (In all, Silver Spring has now lost an accumulated $422 million, or more than Tesla Moto...

Full article: http://www.greentechmedia.com/articles/read/silver-spring...

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