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Joint Venture
6 Months Ended
Jun. 30, 2014
Less Than Wholly Owned Subsidiary [Abstract]  
Joint Venture
14. Joint Venture:
On March 23, 2012, the Company entered into an agreement with Holley Metering Limited (“Holley Metering”), a designer and manufacturer of energy meters in China, to create a joint venture, Zhejiang Echelon-Holley Technology Co., Ltd. (“Echelon-Holley”). The joint venture is intended to focus on the development and sales of smart energy products for China and rest-of-world markets. The Company has a 51% ownership interest in the joint venture and exercises controlling influence. Therefore, Echelon-Holley’s accounts are included in the Company’s Condensed Consolidated Financial Statements as of June 30, 2014 and for the three and six months then ended. Holley Metering’s interests in Echelon-Holley’s net assets are reported in the noncontrolling interest in subsidiary on the Condensed Consolidated Balance Sheet as of June 30, 2014. Net loss attributable to the noncontrolling interest in Echelon-Holley was $239,000 and $356,000 during three and six months ended June 30, 2014. Net loss attributable to the noncontrolling interest in Echelon-Holley was $176,000 and $324,000 during three and six months ended June 30, 2013, respectively.
As of June 30, 2014, Echelon and Holley Metering had contributed in cash a total of approximately $4,000,000 in Share Capital, as defined, to Echelon-Holley in proportion to their respective ownership interests.
In connection with the decisions regarding the Grid business announced in August 2014 and described in Item 15, the Company is evaluating its options with respect to Echelon-Holley.