Capstone Companies, Inc. Raises First Quarter 2017 Revenue Expectations to $5.5 Million
April 27 2017 - 12:41PM
InvestorsHub NewsWire
- - Updated first quarter 2017 revenue
expectation to $5.5 million, up from prior guidance of an
estimated $4.1 million
- - Fourth consecutive ”record”
quarter performance
- - Strong backlog continues for
orders of new products to be available at retail in Q1 & Q2
2017
DEERFIELD BEACH, FL -- April 27,
2017 -- InvestorsHub NewsWire -- Capstone Companies, Inc.
(OTC:
CAPC) (“Capstone” or the “Company”), a designer of innovative
LED lighting solutions including power failure lighting, today
raised its revenue guidance for the 2017 first quarter to $5.5
million. The increases in guidance provided today are based on
increased presence of the Company’s product on store shelves of its
large U.S. retailers, higher customer demand for the Company’s
products and strong reorder activity that is driving growing
backlog.
Stewart Wallach, Capstone’s CEO,
commented, “Our 2017 Q1 revenue expectations
further validate the momentum our Company is experiencing. At
the close of Q1, we will have had four consecutive record quarters
yielding trailing 12 month revenues of an estimated $34.5
million. Importantly, the Company backlog continues to grow
and remain strong supporting Q2 and Q3.
He added, “Sales and marketing have
reported strong product placement and Q1 includes the shipments of
five new product entries for 2017.”
Additionally Larry Sloven, President
of Capstone International Hong Kong reports, “The Company has
received orders from two leading home improvement retailers in the
Pacific Rim that furthers the Company’s international reach. This
new distribution falls on the heels of record international sales
in 2016.”
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) 252-3440, ext.
313
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