Control4 (CTRL) Tops Q2 EPS by 5c; Raises Outlook
Control4 (NASDAQ: CTRL) reported Q2 EPS of $0.23, $0.05 better than the analyst estimate of $0.18. Revenue for the quarter came in at $53.2 million versus the consensus estimate of $50.44 million.
Control4 sees Q3 2016 EPS of $0.19-$0.23, versus the consensus of $0.21. Control4 sees Q3 2016 revenue of $52.5-54.5 million, versus the consensus of $52.1 million.
Control4 sees FY2016 EPS of $0.70-$0.78, versus the consensus of $0.69. Control4 sees FY2016 revenue of $202-206 million, versus the consensus of $199.32 million.
Our teams delivered strong results stemming from our continued focus and investments in product development, marketing, and sales,” said Martin Plaehn, chairman and chief executive officer of Control4. “Orders for our new EA Series Controllers continued to be strong and are confirming our thesis that the EA Series is a market expanding product-line for Control4 – notably the EA-1 for the single-room, entry level smart home solution. Additionally, our Pakedge networking products are being embraced by our expanding dealer channel, and we have successfully completed the bulk of the Pakedge acquisition integration. Combined, we are providing industry-leading home automation solutions side-by-side with robust, high-performance home networking solutions for today’s and tomorrow’s connected homes.”
Commenting on the company’s financial results for the second quarter, Mark Novakovich, chief financial officer of Control4, added: “We delivered both revenue and non-GAAP net income above our guidance range. Our year-over-year quarterly non-GAAP net income and EPS grew 33% and 44%, respectively, and for the first half of 2016, non-GAAP net income and EPS grew 119% and 125%, respectively, over the first half of 2015, reflecting the increasing leverage in our business model and our commitment to sustainable, profitable growth to enhance shareholder value.”
For earnings history and earnings-related data on Control4 (CTRL) click here.