Capstone Companies, Inc. Provides Preliminary Earnings Guidance for the Third Quarter Ended September 30, 2015 and Full Year of 2015; Provides Revenue Guidance for the Second Half of 2015
October 06, 2015 at 10:30 am EDT
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Capstone Companies, Inc. provided preliminary earnings guidance for the third quarter ended September 30, 2015 and full year of 2015. For the quarter, revenue is expected to be approximately $7.7 million, up slightly from the prior-year period. This is up measurably from revenue of $1.0 million in the first half of 2015. Gross profit margin is expected to exceed 25% in the 2015 third quarter, well above the 14.4% reported in the 2014 third quarter, primarily reflecting the benefits of streamlining product offerings, changes in sales strategy and the success of new product introductions made at the 2015 National Hardware Show in May. Net income for the third quarter is forecasted at approximately $1.0 million, nearly offsetting a net loss of $1.1 million for the first half of 2015.
For the second half of 2015, revenue is expected to exceed 85% of 2014 full year revenue of $13.6 million.
The company anticipates strong fourth quarter revenue growth driving expectation for a return to profitability in 2015.
Capstone Companies, Inc. is a holding company. The Company is a designer, manufacturer and marketer of consumer products that are designed to simplify daily living through technology. The Companyâs product line includes Connected Surfaces-Connected Chef, a purpose-built kitchen appliance tablet, which is a form factor with Google GMS operating system, with an integrated platform for cooking accessories, such as a cutting board. The Connected Chef is also designed to safely deliver and access content on mobile and Web-based platforms. The Connected Chef has a Google mobile service allowing for pre-installation of specific Google applications, including Playstore, voice assistant and YouTube. The Connected Chef also provides a cleaner and safer appliance in the cooking area. The Connected Surfaces portfolio is designed to tap into consumers' Internet of Things, wireless connected lifestyles.
Capstone Companies, Inc. Provides Preliminary Earnings Guidance for the Third Quarter Ended September 30, 2015 and Full Year of 2015; Provides Revenue Guidance for the Second Half of 2015