Revolution Lighting Technologies, Inc. Announces Financial Results for the Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Quarter of 2018; Provides Earnings Guidance for the Full Year of 2018
May 01, 2018 at 12:32 pm
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Revolution Lighting Technologies, Inc. announced financial results for the quarter ended March 31, 2018. For the quarter, the company reported total revenue of $33.7 million against $30.6 million for the same period a year ago. The increase in revenue primarily reflects the sales related to expanded product portfolio, including flat panels, wall packs, high bays, controls and other solutions. Net loss was $2.2 million against $5.0 million for the same period a year ago. Adjusted EBITDA was $1.0 million against LBITDA of $0.4 million for the same period a year ago. Operating loss was $1.3 million against $4.2 million for the same period a year ago, as a result of increased gross margins and decreased expenses. Non-GAAP net loss was $1.3 million against $3.2 million for the same period a year ago. Net loss per share was $0.10 per share against $0.24 per share for the same period a year ago. Non-GAAP net loss per share was $0.06 per share against $0.15 per share for the same period a year ago.
For the second quarter of 2018, the company expects revenue in the $40 - $43 million range and adjusted EBITDA in the 6% - 8% range.
For the full year of 2018, the company expects revenue in the $165 - $175 million range and adjusted EBITDA in the 8% - 10% range.
Revolution Lighting Technologies, Inc. designs, manufactures, markets and sells commercial grade light-emitting diode (LED) and conventional lighting fixtures. The Company operates in Lighting Products and Solutions (principally LED fixtures and lamps) segment. The Company's products are used for outdoor and indoor applications, LED-based signage, channel-letter and contour lighting products, LED replacement lamps and commercial grade smart grid control systems. It sells its LED products under the RVLT, Seesmart, Lumificient, Value Lighting, Array and CMG brand names. The Company's commercial lamps and fixtures products include the commercial indoor and outdoor lighting products, such as linear tube lighting, multi-family lighting, commercial troffer lighting and street lighting. It caters to municipal and commercial markets, which include industrial, hospitality, institutional, educational, healthcare and signage markets in the United States, Canada and internationally.
Revolution Lighting Technologies, Inc. Announces Financial Results for the Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Quarter of 2018; Provides Earnings Guidance for the Full Year of 2018