Capstone Companies Announces Preliminary Third Quarter 2016 Revenue Increases 45% to a Record $11.3 Million
October 19 2016 - 4:15PM
Capstone Companies, Inc. (OTCQB:CAPC) (“Capstone” or the
“Company”), a designer of innovative LED lighting solutions
including power failure lighting, today announced preliminary third
quarter 2016 revenue of $11.3 million, surpassing the quarterly
record set in the trailing second quarter. Preliminary
year-to-date revenue is expected to be $22.3 million, which is 11%
higher than the previously expected revenue range of $19.5 million
to $20.0 million.
Stewart Wallach, President and CEO, commented, “Our strategy to
develop and market unique LED consumer lighting products, leverage
our strong relationships with large retailer customers and produce
high quality, low cost products has proven successful. Demand
for our product is strong as they continue to be well received by
end users and are quickly moving off our retailer customers’
shelves. And, given our business model, volume drives strong
operating leverage and earnings. Also of note, we have
greater visibility into the future and are building commitment
pipelines into 2018.”
For 2016, the Company expects revenue to be approximately $28
million to $30 million, nearly doubling 2015’s record revenue of
$15.9 million.
About Capstone Companies, Inc. Capstone
Companies, Inc. is a designer of innovative LED lighting solutions
including power failure lighting, for consumers and institutions.
The Company’s products are sold under the Capstone Lighting and
Hoover® HOME LED brands, to big box retailers, wholesale clubs, and
home improvement stores throughout North America and in
international markets. Capstone’s strategy is to utilize
its low-cost manufacturing base to provide high-quality consumer
products to its customers at a reasonable price, using primarily
direct import distribution.
Visit www.capstonecompaniesinc.com for more information about
the Company and www.capstoneindustries.com for information on our
current product offerings.
For more information, contact
Company:
Aimee Gaudet
Corporate Secretary
(954) 570-8889, ext. 313
Investor Relations:
Kei Advisors LLC
Deborah K. Pawlowski / Garett K. Gough
(716) 843-3908 / (716) 846-1352
dpawlowski@keiadvisors.com / ggough@keiadvisors.com
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