1st Quarter Revenue Increased 9% over Q4 2010 and Q1 2010
CHARLOTTE, N.C., May 13, 2011 /PRNewswire via COMTEX News Network/ -- Nexxus Lighting, Inc. (NASDAQ Capital Market: NEXS) today reported its first quarter 2011 results. Highlights include:
Revenue for the quarter increased 9% over Q4 and Q1 2010 to $1.6 million
Lumificient posted 27% growth in revenue to $1.2 million compared to Q1 2010
Array(TM) LED replacement light bulbs generated sales of $0.4 million
Gross margins increased to 31% compared to 20% for Q4 2010 and 25% for FY 2010
Launch of Array for Lowe's® Home Improvement stores on schedule
Expansion of our patent portfolio to 33 patents issued and 34 patents pending, including issuance of core patent on Selective Heat Sink Technology(TM)
Cash position strengthened to $5.5 million
