Revolution Lighting Technologies, Inc. Revises Earnings Guidance for the Fourth Quarter and Full Year of 2017 and Provides Preliminary Earnings Guidance for the Full Year of 2018; Provides Impairment Guidance for the Fourth Quarter of 2017
For the full year of 2017, the company expects revenue to be approximately $152 million against the previous guidance of $165 million to $170 million.
The company provided preliminary earnings guidance for the full year of 2018. For the period, the company expected revenue to be $165 million to $175 million with adjusted EBITDA and cash flow in the 8% to 10% range.
The company will record a noncash charge of approximately $65-$70 million in the fourth quarter of 2017 which is comprised of $50-$55 million in the reduction of the carrying value of goodwill and intangible assets and $15 million related in the restructuring and inventory charges.