NEWS NEWS NEWS
Capstone Companies, Inc. 350 Jim Moran Blvd, Suite 120 Deerfield Beach, FL 33442 FOR IMMEDIATE RELEASE
Capstone Companies, Inc. Announces Record Preliminary 2015 Revenue
Strong first quarter 2016 revenue expectation of $1.6 million from better-than- expected backlog driven by strong end-user demand for new products
DEERFIELD BEACH, FL, February 17, 2016 – Capstone Companies, Inc. (OTC: CAPC) (“Capstone” or the “Company”), a designer of innovative LED lighting solutions including power failure lighting, today announced record preliminary revenue of $15.6 million for 2015. Preliminary results were higher than the Company’s previous expectation of $15.5 million in revenue. Fourth quarter revenue of $6.9 million was driven by holiday re-order activity.
First quarter 2016 revenue is expected to be $1.6 million, measurably higher than the Company’s expected year-end backlog of $1.0 million, representing significant year-over-year growth. Due to seasonality related to the holiday season, the first quarter typically has lower volume than the trailing fourth quarter.
Stewart Wallach, President and CEO of Capstone, commented, “Our sales growth validates our international expansion and new product development strategies. Capstone LED lighting products are now available on four continents and we are excited by the growing interest we are realizing in international markets. With the solid backlog we have starting 2016, we believe we can now demonstrate a streak of quarterly revenue growth.”
He added, “Through continuous expansion of our product lines and our ability to rapidly scale up our manufacturing to serve growing customer demand, Capstone is positioned to become a prominent player in the lighting industry while selling our familiar Capstone Lighting® products as well as our new line of LED lighting products under the exclusive N.A. trademark license for the Hoover? HOME LED brand.”
The company anticipates reporting its 2015 fourth quarter and full year results on Wednesday, March 23, 2015.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly-owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing, logistics, and distribution of consumer and institutional products, including the Hoover® HOME LED lighting product line, to accounts throughout North America and in international markets. See www.capstonecompaniesinc.com for more information about the Company and www.capstoneindustries.com for information on our current product offerings.
FORWARD-LOOKING STATEMENTS:
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like “anticipate,” “expect,” “project,” “continue” and similar words. These statements are based on the Company’s and its subsidiaries’ current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. Factors that may cause actual results to
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