DEERFIELD BEACH, Fla., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Capstone Companies, Inc. (OTCQB:CAPC) ("Capstone" or the "Company"), a leader in the design and manufacture of specialty power failure lighting solutions and innovator of consumer safety and security products for the Hospitality, Retail and Institutional channels, reported preliminary revenue results for the third quarter ended September 30, 2013.
Preliminary revenue for the third quarter of 2013 of $5.7 million improved by $1.0 million, or 21%, over third quarter 2012 revenue of $4.7 million. For the nine month period ended September 30, 2013 preliminary revenue was $7.3 million, an improvement of $1.5 million, or 25%, from revenue of $5.9 million for the first nine months of 2012.
Stewart Wallach, Capstone's CEO, commented, "Our revenue expansion in the third quarter reflects the benefits of our investments for growth. During the first half of 2013, our domestic distribution program gained momentum and accounted for 48% of first half revenue. Importantly, we are seeing indications that approximately 80% of our second half 2013 revenue will be related to our legacy domestic import shipment program. This shows that the implementation of our direct distribution program has not lessened the magnitude of our seasonal direct imports."
The Company plans to report its full financial results for the three and nine month periods ended September 30, 2013 on Tuesday, November 12, 2013.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly-owned subsidiaries, Capstone Industries, Inc. and Capstone International HK, Ltd., in the development, manufacturing, logistics, and distribution of consumer and institutional products 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.
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 differ materially from those contemplated by such forward-looking statements, include consumer acceptance of the Company's products, its ability to deliver new products, the success of its strategy to broaden market channels and the relationships it has with retailers and distributors. Prior success in operations does not necessarily mean success in future operations. The ability of the Company to adequately and affordably fund operations and any growth will be critical to achieving and sustaining any expansion of markets and revenue. The introduction of new products or the expanded availability of products does not mean that the Company will enjoy better financial or business performance. The risks associated with any investment in Capstone Companies, Inc., which is a small business concern and a "penny-stock Company" and, as such, a highly risky investment suitable for only those who can afford to lose such investment, should be evaluated together with the risks and uncertainties more fully described in the Company's Annual and Quarterly Reports filed with the Securities and Exchange Commission. Capstone Companies, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Contents of referenced URL's are not incorporated into this press release.
CONTACT: For more information contact Company: Aimee Gaudet Corporate Secretary (954) 252-3440, ext 313 Investor Relations: Garett Gough, Kei Advisors LLC (716) 846-13352 firstname.lastname@example.org
Source:Capstone Companies, Inc.