Control4 Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and Full Year 2018
For the year, the company reported revenue of $244,725,000 against $208,802,000 a year ago. Income from operations was $14,106,000 against $4,712,000 a year ago. Income before income taxes was $14,437,000 against $4,170,000 a year ago. Net income was $15,979,000 or $0.60 per diluted share against $12,954,000 or $0.53 per basic and diluted share a year ago. Net cash provided by operating activities was $27,490,000 against $17,955,000 a year ago. Purchases of property and equipment were $3,952,000 against $2,682,000 a year ago. On non-GAAP basis, the company's income from operations was $31,958,000 against $21,763,000 a year ago. Net income was $32,118,000 or $1.20 per diluted share against $20,643,000 or $0.85 per diluted share a year ago.
For the first quarter of 2018, the company expects revenue in the first quarter of 2018, which is the seasonally low quarter each year, to be between $56.5 million and $58.5 million. The company expected non-GAAP net income for the first quarter of 2018 to be between $3.5 million and $4.5 million, and based on an expected 27.9 million weighted average shares outstanding (diluted), to be between $0.12 and $0.16 per diluted share.
For the full year 2018, the company expects revenue for the full year 2018 to be between $270 million and $274 million. The company expected Non-GAAP net income to be between $33.5 million and $35.5 million, and based on an expected 28.3 million weighted average shares outstanding (diluted), to be between $1.19 and $1.26 per diluted share.