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.
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