Revolution Lighting +10.1% as it beats, raises full-year guidance

• Revolution Lighting Technologies (OTC:RVLT) is up 10.1%, breaking up from a spring range around its 52-week low, after beating expectations on top and bottom lines with its Q1 earnings.
• An operating loss of $2.1M and net loss of $2.6M were slightly wider Y/Y. EBITDA of $0.8M beat an expected $0.7M and was up from break-even a year ago.
• The company boosted its full-year revenue guidance to $180M-$190M (vs. consensus for $178.8M). For Q2, it sees revenues of $41M-$43M vs. $38.6M expected.
• Losses were affected by one-time acquisition costs as well as costs tied to workforce reduction that the company expects will bear cost-savings fruit in the rest of the year.
• Conference call to come at 11 a.m. ET.
• Press Release