Mon, Jul. 11, 12:32 PM
- Revolution Lighting Technologies (RVLT +2.5%) announced that its division, TNT Energy (which was acquired in May 2016), has been awarded a contract of $4.3M for installing a turnkey LED retrofit performance contract with Siemens Industry Inc. building technologies division for the City of New Bedford, Massachusetts.
- The contract includes the lighting retrofit installed LED lighting across 17 municipal and educational facilities and installation of more than 53,000 of Revolution Lighting's LED tubes and Thin Panel fixtures at facilities including New Bedford's elementary, middle and high school facilities, libraries, and municipal administrative buildings.
- "Revolution Lighting continues to expand its comprehensive 'full turnkey' service capabilities and installation of our market leading LED solutions throughout Massachusetts and the northeast, driving future growth and incremental revenue," said Robert Lapenta, CEO and Chairman, Revolution Lighting.
Thu, May 12, 9:51 AM
- Revolution Lighting Technologies (NASDAQ: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
Thu, May 12, 7:40 AM
Wed, May 11, 5:30 PM
Tue, May 3, 12:48 PM
Tue, May 3, 10:47 AM
- Revolution Lighting (RVLT -18.5%) is buying TNT Energy, a Massachusetts-based lighting project contractor serving small business and government clients. The company is paying $10M - $8M in cash plus $2M in promissory notes.
- TNT had 2015 revenue of $25M and adjusted EBITDA of $2.3M. Revolution plans to provide its LED offerings to TNT clients, and says "a significant portion of the purchase price will be amortizable and deductible for federal and state income taxes."
- To pay for the deal, Revolution is selling 2.78M shares at $5.25 apiece (24% below yesterday's close). Underwriters have a 416K-share overallotment option. Gross proceeds will total $14.6M, and net proceeds are expected to total $13.4M.
- Q1 results are due on the morning of May 12.
Tue, May 3, 9:15 AM
Wed, Mar. 16, 10:50 AM
- Rodman & Renshaw's Amit Dayal has launched coverage on Revolution Lighting (RVLT +4.2%) with a Buy rating and $20 target (nearly 3x current levels).
- Separately, Revolution has announced a 3-year contract with New England utility Eversource related to the latter's small business program. The deal provides Revolution's Energy Source unit "with a defined territory to identify and support small business customers within commercial and industrial sectors with an average peak demand of 300kW or less per month."
- Shares are higher a day after closing just $0.08 above a split-adjusted 52-week low of $6.40. A 1:10 reverse split was carried out earlier this month.
Thu, Mar. 10, 10:06 AM
- Along with its mixed Q4 results (revenue beat, EPS missed), Revolution Lighting (RVLT +2.5%) has announced a 1:10 reverse split that will go into effect as of tomorrow's open. The move will bring the LED lighting provider back into compliance with the Nasdaq's $1.00 minimum bid rule (shares are currently at $0.77).
- Revolution is guiding for 2016 revenue of $170M (20%+ organic growth), below a sole analyst estimate of $185M. Q1 sales guidance is at $26M-$28M.
- Q4 sales officially rose 61% Y/Y, and 23% on an organic basis. Gross margin rose 240 bps Y/Y to 33.5%; 2016 GM guidance is at 32%-33%. Revolution had only $0.2M in cash at the end of 2015 to go with $22M in debt, but working capital stood at $26M and Revolution had $2.6M in available credit facility funds.
- Revolution's Q4 results, earnings release
Thu, Mar. 10, 7:42 AM
Wed, Mar. 9, 5:30 PM
Nov. 5, 2015, 8:28 AM
Nov. 4, 2015, 5:30 PM
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Sep. 2, 2015, 12:54 PM
Aug. 6, 2015, 8:31 AM
- Revolution Lighting Technologies (NASDAQ:RVLT): Q2 EPS of $0.01 beats by $0.01.
- Revenue of $27.2M (+55.4% Y/Y) beats by $0.3M.
Aug. 5, 2015, 2:23 PM
- Revolution Lighting (RVLT +3.6%) has acquired Energy Source, a provider of LED lighting installation services for major projects, for $30M - $10M in cash, $10M in stock, and another $10M through a promissory note and 3-year earn-out payments. The cash portion of the deal has been financed via the sale of 8.7M shares to a "non-affiliated investor."
- Energy Sources is respectively expected to have 2015 revenue and adjusted EBITDA of $30M and $4.5M. The deal is expected to be accretive to Revolution's 2H15 EPS.
- Revolution remains higher on an up day for equities.
Revolution Lighting Technologies, Inc. designs, manufactures, markets and sells LED lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally. Its products LED replacement lamps, LED fixtures and LED-based signage,... More
Industry: Communication Equipment
Country: United States
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