Control4 Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter and Full Year 2018
For the six months, the company reported revenue was $128,377,000 against $111,460,000 a year ago. Income from operations was $7,941 against $1,815 a year ago. Income before income taxes was $7,651,000 against $2,018,000 a year ago. Net income was $7,606,000 or $0.28 per diluted per share against $4,562,000 or $0.18 per diluted per share a year ago. Net cash provided by operating activities was $12,044,000 against $8,792,000 a year ago. Purchases of property and equipment were $1,851,000 against $1,618,000 a year ago. Non-GAAP net income was $17,163,000 or $0.63 per diluted per share against $11,290,000 or $0.43 per diluted per share a year ago. Non-GAAP income from operations was $17,498,000 against $10,958,000 a year ago.
The company expects revenue in the third quarter of 2018 to be between $70.5 million and $72.5 million. The company expects non-GAAP net income for the third quarter of 2018 to be between $9.5 million and $10.5 million or, based on an expected 27.6 million weighted average shares outstanding, to be between $0.34 and $0.38 per diluted share.
The company expects revenue for the full year 2018 to be between $273 million and $276 million. The company expects Non-GAAP net income to be between $38.0 million and $40.0 million or, based on an expected 27.6 million weighted average shares outstanding, to be between $1.38 and $1.45 per diluted share. Non-GAAP gross margin percentages for the year will be slightly higher than 2017 and remain in stated long-term range of between 52% to 54%, provided that no additional import tariffs impacting products are enacted.