Control4 Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Half Year Ended June 30, 2016; Provides Earnings Guidance for the Third Quarter 2016; Revises Earnings Guidance for the Full Year 2016
For the half year, revenue was $96,250,000 against $76,724,000 a year ago. Loss from operations was $2,526,000 against $2,265,000 a year ago. Loss before income taxes was $2,738,000 against $2,542,000 a year ago. Net income was $7,163,000 or $0.30 per diluted common share against net loss of $2,190,000 or $0.09 per basic and diluted common share a year ago. Net cash provided by operating activities was $175,000 against net cash used in operating activities of $2,601,000 a year ago. Purchases of property and equipment were $1,171,000 against $1,927,000 a year ago. Non-GAAP income from operations was $6,473,000 against $2,877,000 a year ago. Non-GAAP net income was $6,454,000 or $0.27 per diluted common share against $2,952,000 or $0.12 per basic and diluted common share a year ago.
The company expects revenue in third quarter 2016 to be between $52.5 million and $54.5 million. In addition, the company expects non-GAAP net income for third quarter 2016 to be between $4.7 million and $5.7 million, or between $0.19 and $0.23 per diluted share.
For the full year 2016, the company is raising its annual guidance to $202 million to $206 million for revenue, and $17 million to $19 million for non-GAAP net income, or non-GAAP EPS of $0.70 to $0.78 per diluted share.