- Updated first quarter 2016 revenue expectation to $1.9 million, up from prior guidance of $1.6 million
- Provided initial second quarter 2016 revenue guidance of approximately $4.5 million
- Reiterated 2016 full-year revenue expectation of $20 million, over 25% higher than record sales in 2015
DEERFIELD BEACH, Fla., March 24, 2016 (GLOBE NEWSWIRE) -- 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 2016 first quarter to $1.9 million, provided 2016 second quarter revenue guidance of $4.5 million and reiterated its 2016 full year revenue expectation of $20 million, during the Company’s fourth quarter and full year 2015 teleconference and webcast. The increases in guidance provided today are based on increased presence of the Company’s product on store shelves of large U.S. retailers, higher customer demand for the Company’s products and strong reorder activity that is driving growing backlog. The Company’s updated revenue guidance for 2016 represents significant increases from 2015 sales for the first and second quarters, and full year.
Stewart Wallach, Capstone’s CEO, commented, “Our 2015 year-end revenue results were the strongest in the history of the Company. Moreover, our first quarter 2016 activity is shaping up nicely with an estimated $1.9 million in revenue anticipated. Importantly, backlog supporting the second quarter 2016 should generate minimum revenue in the area of approximately $4.5 million.”
He added, “Sales and marketing have reported strong product placement, and we are already booking backlog into the third and fourth quarters of 2016. As a result we believe that we are on track to achieve our $20 million goal. In fact, given the promising reorder activity that we are seeing today, we believe that $20 million may be a conservative expectation.”
A telephonic replay of today’s teleconference will be available from 1:30 p.m. Eastern Time until Thursday, March 31, 2016. To listen to the replay of the call, dial (858) 384-5517 and enter replay pin number 13629868. Alternatively, the archive of the webcast will be available on the Company’s website at www.capstonecompaniesinc.com. A transcript will also be posted to the website, once available.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly-owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing, logistics, and distribution of consumer and institutional products, including the Hoover® HOME LED lighting product line, 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 URLs are not incorporated into this press release.
FINANCIAL TABLES FOLLOW. THE FOLLOWING SUMMARY FINANCIAL STATEMENT SHOULD BE READ ALONG WITH THE FORM 10-K FINANCIAL STATEMENT FILED BY THE COMPANY WITH THE SECURITIES AND EXCHANGE COMMISSION.
For more information, contact Company: Aimee Gaudet Corporate Secretary (954) 252-3440, ext 313 Investor Relations: Garett Gough, Kei Advisors LLC (716) 846-1352 firstname.lastname@example.org
Source:Capstone Companies, Inc.