Revolution Lighting drops following Q2 results, 2H guidance

|About: Revolution Lighting Technol... (RVLT)|By:, SA News Editor

Revolution Lighting (RVLT -6.6%) expects Q3 revenue of $24M-$26M (up from Q2's $17.5M) and total 2H14 revenue of $55M-$60M. It expects to become cash flow positive in Q4.

Thanks in part to the Value Lighting acquisition, Q2 sales rose 136% Y/Y. Gross margin fell to 32% from 49% a year ago due to mix changes; Revolution expects a ~35% GM going forward.

The LED lighting system provider ended Q2 with $1.7M in cash and $34.1M in current assets. It expects to obtain a $25M credit facility from a major bank in Q3.

Q2 results, PR