Control4 Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2018
For the nine months, revenue was $199,971,000 against $176,043,000 a year ago. Income from operations was $13,474,000 against $6,730,000 a year ago. Income before income taxes was $13,429,000 against $7,137,000 a year ago. Net income was $13,317,000 against $9,596,000 a year ago. Diluted earnings per share were $0.48 against $0.36 a year ago. Net cash provided by operating activities was $21,988,000 against $15,389,000 a year ago. Purchases of property and equipment were $3,914,000 against $3,003,000 a year ago. Non-GAAP income from operations was $27,861,000 against $20,252,000 a year ago. Non-GAAP net income was $27,704,000 or $1.01 per diluted share against $20,703,000 or $0.78 per diluted share a year ago.
The company expects revenue for the full year 2018 to be between $272 million and $274 million and expects non-GAAP net income for the full year to be between $39.0 million and $40.0 million or $1.42 and $1.45 per diluted share, based on an expected 27.6 million weighted average shares outstanding.
The company expects revenue in the fourth quarter of 2018 to be between $72 million and $74 million and expects non-GAAP net income for the fourth quarter of 2018 to be between $11.3 million and $12.3 million or $0.41 and $0.45 per diluted share, based on an expected 27.6 million weighted average shares outstanding.