Capstone Companies, Inc. Announces Preliminary Second Quarter 2016 Revenue of $8.6 million
July 19 2016 - 4:15PM
Capstone Companies, Inc. (OTC:CAPC) (“Capstone” or the “Company”),
a designer of innovative LED lighting solutions including power
failure lighting, today announced preliminary second quarter 2016
revenue of approximately $8.6 million. These preliminary
results exceed the Company’s second quarter revenue guidance of
$8.0 million, provided on May 16, 2016.
Stewart Wallach, President and CEO of Capstone, commented,
“These results reflect how strongly end users have responded to our
new product designs. We also had some shipments go out
earlier than anticipated; however, based on current backlog levels,
we still expect our third quarter results to improve over the
record revenue of $7.7 million that we reported in the third
quarter of last year.”
He added, “Our team’s execution of our growth strategy has been
impressive, and I am encouraged by these results, which is driving
our expectation for a record 2016.”
The company anticipates reporting its second quarter 2016
financial results on Monday, August 15, 2016, after the market
closes.
About Capstone Companies, Inc. Capstone
Companies, Inc. is a public holding company that engages, through
its wholly-owned subsidiaries, Capstone Industries, Inc., Capstone
Lighting Technologies, LLC, and Capstone International HK, Ltd., in
the development, manufacturing, logistics, and distribution of
consumer and institutional products, including the Hoover® HOME LED
lighting product line, to accounts throughout North America and in
international markets. See www.capstonecompaniesinc.com for
more information about the Company and www.capstoneindustries.com
for information on our current product offerings.
FORWARD-LOOKING STATEMENTS:This news release
contains "forward-looking statements" as that term is defined in
the Private Securities Litigation Reform Act of 1995, as
amended. Such statements consist of words like “anticipate,”
“expect,” “project,” “continue” and similar words. These
statements are based on the Company’s and its subsidiaries’ current
expectations and involve risks and uncertainties, which may cause
results to differ materially from those set forth in the
forward-looking statements. Factors that may cause actual
results to differ materially from those contemplated by such
forward-looking statements, include consumer acceptance of the
Company’s products, its ability to deliver new products, the
success of its strategy to broaden market channels and the
relationships it has with retailers and distributors. Prior
success in operations does not necessarily mean success in future
operations. The ability of the Company to adequately and
affordably fund operations and any growth will be critical to
achieving and sustaining any expansion of markets and
revenue. The introduction of new products or the expanded
availability of products does not mean that the Company will enjoy
better financial or business performance. The risks
associated with any investment in Capstone Companies, Inc., which
is a small business concern and a "penny-stock Company” and, as
such, a highly risky investment suitable for only those who can
afford to lose such investment, should be evaluated together with
the risks and uncertainties more fully described in the Company’s
Annual and Quarterly Reports filed with the Securities and Exchange
Commission.
Capstone Companies, Inc. undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events, or otherwise. Contents of
referenced URLs are not incorporated into this press release.
For more information, contact
Company:
Aimee Gaudet
Corporate Secretary
(954) 570-8889, ext 313
Investor Relations:
Garett Gough, Kei Advisors LLC
(716) 846-1352
ggough@keiadvisors.com
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