- Revolution Lighting (RVLT +2.3%) faded in afternoon trading after being up as much as 12.8% earlier in the day in response to its Q2 report.
- The company says it's pleased with the results, while adding it's seeing a "steady increase in LED adoption" and anticipates continued revenue and earnings growth acceleration on the back of a "robust" business pipeline.
- A possible reason the market reconsidered its initial reaction: Revolution's 10Q indicates the vast majority of its $6.3M in Y/Y revenue growth came from the acquisitions of Seesmart and LIT, and that the company's Lumificient sales component declined 3.5% from $882K to $852K. (10Q)
- Also of note: sales to a group of related entities represented 58% of revenues. Talk about customer risk.
Revolution Lighting Technology fading gains after Q2 results
Aug 7 2013, 17:52 ET