Control4: 2Q Earnings Snapshot
SALT LAKE CITY (AP) _ Control4 Corp. (CTRL) on Thursday reported second-quarter earnings of $6.6 million.
On a per-share basis, the Salt Lake City-based company said it had net income of 24 cents. Earnings, adjusted for stock option expense and amortization costs, were 42 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The provider of in-home automation and control services posted revenue of $69.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $68 million.
For the current quarter ending in October, Control4 expects its per-share earnings to range from 34 cents to 38 cents.
The company said it expects revenue in the range of $70.5 million to $72.5 million for the fiscal third quarter.
Control4 expects full-year earnings in the range of $1.38 to $1.45 per share, with revenue ranging from $273 million to $276 million.
Control4 shares have fallen 12 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.26, an increase of 17 percent in the last 12 months.