STAMFORD, Conn. (AP) — Revolution Lighting Technologies Inc. reported a loss of $2.2 million in its second quarter.
On a per-share basis, the Stamford, Connecticut-based company said it had a loss of 10 cents. Losses, adjusted for costs related to mergers and acquisitions and stock option expense, were 4 cents per share.
The LED maker posted revenue of $36.4 million in the period.
For the current quarter ending in October, Revolution Lighting said it expects revenue in the range of $40 million to $42 million.
The company’s shares closed at $3.45. A year ago, they were trading at $7.39.
“I am extremely pleased with the progress over the past several quarters in right sizing our company, improving our operational processes and strengthening our sales and marketing resources. In addition, we continue to balance our portfolio of products and solutions to meet and exceed the needs of our expanding customer base,” said Robert V. LaPenta, Chairman, CEO and President of Revolution Lighting Technologies. “While we were below our expectations regarding our second quarter results, we remain excited about the second half of 2018 and beyond. We begin the second half of 2018 with our largest backlog of over $50 million and there were a number of large projects where we are the selected lighting provider but the project has slipped to the second half.”
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