Revolution Lighting Technologies Inc (NASDAQ: RVLT) issued a fourth-quarter guidance update in light of unprecedented weather conditions in Texas. The company, based in Stamford, Connecticut, now expects Q4 adjusted EBITDA at breakeven and sees fourth quarter sales of $35 million, down from an estimates of $47 million to $50 million. Management sees FY17 sales of $152 million.
Revolution’s preliminary guidance for 2018 revenue is $165-$175 million with adjusted EBITDA and cash flow in the 8-10% range.
According to Revolution’s Robert LaPenta, "I am confident that the actions that we are taking will significantly improve our Company, our operations and our business prospects.
"Our reorganized leadership team is excited about the current position of the Company, and we look forward to a great 2018 and beyond."
During 2017, the company received the U.S. Navy certification of its advanced LED tube for use throughout the entire U.S. Navy Fleet, and received our first large order during the fourth quarter, which will be delivered beginning in the fourth quarter and completed in the first quarter 2018.
Revolution Lighting Technologies boasts its status as a leader in the design, manufacture, marketing, and sale of LED lighting solutions focusing on the industrial, commercial and government markets in the United States, Canada, and internationally.
Through advanced LED technologies, Revolution Lighting has created an innovative lighting company that offers a comprehensive advanced product platform of high-quality interior and exterior LED lamps and fixtures, including signage and control systems.
RVLT stock opened Thursday down 21 cents, or 6.3%, to $3.10
