Revolution Lighting Technologies Q1 Revenue Declines, Non-GAAP Loss Narrows

Revolution Lighting Technologies (RVLT) said Q1 revenue declined, though its non-GAAP loss improved from the prior year period. 

Q1 revenue was $5 million, down from $6.3 million. 

Gross profit for the quarter was approximately $1.7 million as compared to gross profit of approximately $2.7 million for the corresponding period in 2013. The non-GAAP net loss was $3.5 million, improved over $5.3 million a year prior. 

The company said revenue in Q2, 2014 will include approximately two months of the recently completed Value Lighting acquisition, and is expected to be in the $15-17 million range, as compared to $7.4 million in Q2, 2013. 

The company reiterated previously stated guidance of 2014 pro forma revenue in the $110 million range with pro forma organic revenue growing by approximately 40%, compared to pro forma revenue of $80 million in 2013, and Adjusted EBITDA in the 12-15% range. 

Analyst estimates were not available. 

RVLT trades in a 52-week range of $2.19 to $5.50. 

Revolution designs and sells LED lightbulbs and products.