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
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
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.
Jul. 9, 2015, 9:49 AM
- Revolution Lighting (RVLT +2.8%) president/CFO Charles Schafer is retiring, effective tomorrow. Jim DePalma, currently Revolution's vice chairman and a managing partner at investment firm Aston Capital, is the LED lighting provider's new CFO. CEO Robert LaPenta will add the title of president.
- Revolution has also cut its Q2 revenue guidance to ~$27M (31%+ organic growth) from a prior $28M-$30M.
- Full-year sales guidance of $125M (35%+ organic growth) has been reiterated, and so has gross margin guidance of 35% and adjusted EBITDA guidance of 10%-12%. However, full-year organic revenue growth is now expected to be at 35%+ vs. a prior 40%+.
May 11, 2015, 9:22 AM
Mar. 11, 2015, 3:08 PM
- A day after equity markets tumbled (with many high-beta names especially hard-hit), major tech gainers are outnumbering major decliners, though the Nasdaq is nearly flat.
- Today's notable tech gainers include RF backhaul hardware vendors DragonWave (DRWI +15.6%) and Aviat (AVNW +8%), LED lighting provider Revolution Lighting (RVLT +5.4%) online textbook rental/learning services provider Chegg (CHGG +3.8%), auto site TrueCar (TRUE +5.3%), loan-shopping site owner Lendingtree (TREE +6.9%), telecom equipment vendor Calix (CALX +2.7%), TV/set-top SoC provider Sigma Designs (SIGM +4.9%), and VoIP hardware/software provider Mitel (MITL +3.8%).
- Notable decliners include supercomputer maker SGI (SGI -2.9%), 3D printing software vendor Materialise (MTLS -5.5%), security hardware/software provider KEYW Holding (KEYW -2.9%), and Chinese online game developer Changyou (CYOU -2.9%).
- DragonWave and Aviat are reversing yesterday's big losses. Materialise is making fresh 52-week lows a week after posting mixed Q4 results; KEYW is also seeing new 52-week lows. Revolution's gains continue a volatile post-earnings ride: Shares soared last week after the company posted its Q4 results, but gradually gave back their gains.
- Previously covered: SanDisk, Intel, EMC, SunEdison, Resonant, Immersion, Logitech, VeriFone, Mobileye, Dangdang, InvenSense
Dec. 29, 2014, 8:55 AM
- Leading industrial/construction supplies seller Fastenal has agreed to sell Revolution Lighting's (NASDAQ:RVLT) LED lighting products through its U.S. stores and distribution centers.
- Fastenal had 2,647 stores at the end of September.
Dec. 18, 2014, 9:14 AM| Dec. 18, 2014, 9:14 AM | 9 Comments
Nov. 25, 2014, 12:45 PM
Nov. 25, 2014, 9:15 AM
Nov. 25, 2014, 9:14 AM
- Revolution (NASDAQ:RVLT) is selling 8M shares at $1.25 apiece - 15% below yesterday's closing price. Underwriters have a 1.2M-share overallotment option.
- Net proceeds are expected to total $9.3M. Revolution only says they'll be directed towards "general corporate purposes, including working capital and the financing of possible acquisitions."
- Shares have fallen to new 52-week lows in premarket trading.
- Yesterday: Revolution Lighting plans stock offering
Nov. 6, 2014, 9:14 AM
- Gainers: PLNR +74%. PESI +24%. SWIR +20%. MEET +13%. RVLT +11%. COT +11%. DATA +11%. ACAS +10%. NDLS +9%. KATE +8%. KATE +8%. WFM +9%. HZNP +6%. CECO +6%. DRYS +5%. TRUE +5%.
- Losers: AEZS -51%. SZYM -47%. SNMX -26%. GNW -24%. WWWW -22%. CSOD -19%. PHMD -17%. GERN -14%. MCP -12%. GNRC -11%. WAC -9%. QCOM -7%. Z -7%. PBR -5%.
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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