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Capstone Companies, Inc. Raises First Quarter 2017 Revenue Expectations to $5.5 million
Updated first quarter 2017 revenue expectation to $5.5 million, up from prior guidance of an estimated $4.1 million
Fourth consecutive “record” quarter performance
Strong backlog continues for orders of new products to be available at retail in Q1 & Q2 2017
April 25, 2017 06:55 AM Eastern Daylight Time
DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Capstone Companies, Inc. (OTC: CAPC) (“Capstone” or the “Company”), a designer of innovative LED lighting solutions including power failure lighting, today raised its revenue guidance for the 2017 first quarter to $5.5 million. The increases in guidance provided today are based on increased presence of the Company’s product on store shelves of its large U.S. retailers, higher customer demand for the Company’s products and strong reorder activity that is driving growing backlog.
“Our 2017 Q1 revenue expectations further validate the momentum our Company is experiencing. At the close of Q1, we will have had four consecutive record quarters yielding trailing 12 month revenues of an estimated $34.5 million. Importantly, the Company backlog continues to grow and remain strong supporting Q2 and Q3.”
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Stewart Wallach, Capstone’s CEO, commented, “Our 2017 Q1 revenue expectations further validate the momentum our Company is experiencing. At the close of Q1, we will have had four consecutive record quarters yielding trailing 12 month revenues of an estimated $34.5 million. Importantly, the Company backlog continues to grow and remain strong supporting Q2 and Q3.”
He added, “Sales and marketing have reported strong product placement and Q1 includes the shipments of five new product entries for 2017.”
Additionally Larry Sloven, President of Capstone International Hong Kong reports, “The Company has received orders from two leading home improvement retailers in the Pacific Rim that furthers the Company’s international reach. This new distribution falls on the heels of record international sales in 2016.”
