Control4 (CTRL) Misses Q1 EPS by 3c; Guides Q2 In-Line
Control4 (NASDAQ: CTRL) reported Q1 EPS of ($0.05), $0.03 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $32.1 million versus the consensus estimate of $33.38 million.
Control4 sees Q2 2015 EPS of $0.10-$0.17, versus the consensus of $0.15. Control4 sees Q2 2015 revenue of $41-44 million, versus the consensus of $41.9 million.
“Though the first quarter is our seasonally slowest revenue quarter, customer and dealer enthusiasm for our newest home-automation software and products is very strong,” said Martin Plaehn, chairman and chief executive officer of Control4. “Our January acquisition of Nexus Technologies (and its Leaf-branded products) and our February roll-out of new Control4 products extended our foundation of stronger solutions for smart and connected homes. We’re confident in the business opportunities ahead and are already engaged to pursue them.”
Commenting on the company’s financial results for the first quarter, Dan Strong, chief financial officer of Control4, added: “Demand for our newly announced products has been strong. We ended the quarter with a higher than normal product backlog which impacted our revenue in the first quarter. We expect to increase our revenue growth rate from the first quarter, and to continue to invest in R&D and Sales and Marketing to bolster our new product development capabilities, and to strengthen our dealer network with enhanced channel programs and direct-to-consumer marketing.”
For earnings history and earnings-related data on Control4 (CTRL) click here.