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.”