STAMFORD: Revolution Lighting Technologies, Inc. [Nasdaq:RVLT] was recognized as Connecticut’s fastest growing technology company by the Connecticut Technology Council in 2016. On March 9th, the company reported fourth quarter 2016 revenues and sales growth has continued, but not at its once torrid pace. Revenues were $51.2 million for Q4 2016, an increase of 15% over Q4 2015, with a gross margin of 34% with Adjusted EBITDA [Earnings before interest, taxes and deductions] of $5.2 million.
Net income for the company's foruth quarter was $1.6 million or $0.08 per share. Annually revenues of $172 million were a 33% increase over 2015 for the year, with a loss of $500,000. The company has a current market value of approximately $120 million.
Robert V. LaPenta, Chairman, CEO, was happy with the performance saying, "we are pleased to deliver a successful fourth quarter and full year 2016 operating and financial performance, and believe the Company continues to outperform the overall growth of the LED lamp and luminaire industry.”
|Core Informatics CEO: Gabelle wants to "accelerate the digital lab."
BRANFORD: Core Informatics one of Connecticut’s fastest growing technology companies has been purchased by Thermo Fisher Scientific Inc., [NYSE THMO] a diversified global technology and science company with more than 55,000 employees and $18 billion in sales.
Core Informatics founded in 2006, the company was listed by Deloitte at 469 on its 2016 Tech Fast 500 list among US companies for its 130 percent cent growth rate. Core informatics provides “laboratory data management solutions to biopharma, genomics, and other scientific organizations.”
For nearly its first decade the company “bootstrapped” growth, in 2014 the management team put their foot on the accelerator raising $ 5 million to fuel growth, a year later it raised another $17 million, its then 65 employees swelled to the current 100.
ROCKY HILL: The fourth quarter of 2016 brought a great stash of new cash to 31 companies across Connecticut and beyond, from Ridgefield to Tolland.
Connecticut Innovations Inc., [CII] the quasi public venture capital fund, placed 12.2 million on Connecticut’s tech table.
The companies were as diverse as Kleo Pharmaceuticals [previous coverage] , a New Haven based bioscience company developing the research from David Spiegel’s lab at of Yale University. The company is developing what the company says is an entirely new class of immunotherapy drugs by “developing small molecules that emulate biologics.”
NORWALK: etouches is a global provider of cloud event management software and one of Connecticut’s fastest growing companies. Ranked 461 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America it grew 132 percent during this period.
Founded in 2008, etouches says it has assisted more than 25,000 event professionals in “planning, executing and measuring their events,”
NEW HAVEN: Howard Pitkin a former Connecticut banking commissioner was elected to the board of Continuity, a "leading provider of compliance management and regulatory technology."
CEO Michael Nicastro made the announcement saying, “Howard has been involved with and has managed many different facets of compliance over his 40-year career in banking oversight. This level of expertise along with his relationships with the 49 other state regulators as well as federal agencies will be integral to Continuity as we continue to build compliance solutions on our compliance platform for financial institutions.”