Revolution Lighting Technologies, Inc. announced earnings results for the second quarter and six months ended June 30, 2016. For the quarter ended June 30, 2016, total revenues were $43.1 million, compared to $27.2 million in second quarter of 2015, an increase of 58% (20% proforma organic growth). The increase reflects strong growth from full service turnkey operations, multi-family installations, and retrofit lamps and related products. Adjusted EBITDA for the three months ended June 30, 2016 was $3.5 million compared to $1.1 million Adjusted EBITDA for the comparable period in 2015. The Company reported an operating loss of $0.5 million for the three months ended June 30, 2016 as compared to $1.1 million operating loss in the same period of 2015. Operating results for the current quarter include non-operating costs, primarily related to one-time acquisition costs, and costs associated with consolidating operations and related workforce reductions of $1.8 million, depreciation and amortization of $1.6 million, and stock-based compensation of $0.6 million. The company reported a net loss for the three months ended June 30, 2016 of $1.1 million, including the $4.0 million noted above, as compared to a net loss of $1.5 million, including the $2.2 million noted above, for the same period in 2015. Basic and diluted loss per share attributable to common stockholders was $0.06 for the quarter ended June 30, 2016 as compared to a loss per share of $0.10 for the same period in 2015, as adjusted for the 1 for 10 reverse stock split. Excluding one-time acquisition costs and work force reductions for both 2016 and 2015, net income per share was $0.04 compared to a net loss per share of $0.07, respectively.

For the six months ended June 30, 2016, total revenues were $70.7 million, compared to $47.6 million in the same period of 2015, an increase of 49% (23% proforma organic growth). The increase reflects strong growth from full service turnkey operations, multi-family installations, and retrofit lamps and related products. Adjusted EBITDA for the six months ended June 30, 2016 was $4.3 million compared to $1.2 million Adjusted EBITDA for the comparable period in 2015. The company reported an operating loss of $2.6 million for the six months ended June 30, 2016 as compared to $3.0 million operating loss in the same period of 2015. Operating results for the period include non-operating costs, primarily related to one-time acquisition costs, and costs associated with consolidating operations and related workforce reductions of $3.0 million, depreciation and amortization of $2.9 million, and stock-based compensation of $1.0 million. The company reported a net loss for the six months ended June 30, 2016 of $3.7 million, including $6.9 million noted above, as compared to a net loss of $3.5 million, including $4.1 million noted above for the same period in 2015. Net loss includes the aforementioned charges and interest and other expense of $1.1 million for 2016, and $0.6 million for 2015. Basic and diluted loss per share attributable to common stockholders was $0.21 for the six months ended June 30, 2016 as compared to a loss per share of $0.25 for the same period in 2015, as adjusted for the 1 for 10 reverse stock split. Excluding one-time acquisition costs and work force reductions for both 2016 and 2015, net loss per share was $0.04 compared to a net loss per share of $0.20, respectively.

The company expects third quarter of 2016 revenue in the $50 million to $52 million range, representing an increase of approximately 35% from third quarter of 2015, and Adjusted EBITDA of 9% to 11%.

The company reaffirms full year 2016 revenue guidance of $180 million to $190 million range, representing an increase of approximately 40% (20%+ proforma organic growth) and Adjusted EBITDA of 10% to 12%. The company expects gross margin percentage to approximate 32% for Full Year 2016.