Capstone Companies, Inc. Reports First Quarter 2018 Revenue of $4.1 Million
DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--May 14, 2018--Capstone Companies, Inc. (OTC:CAPC) (“Capstone” or the “Company”), a designer, manufacturer and marketer of consumer inspired products that bridge technological innovations with today’s lifestyle, reported its financial results for the first quarter 2018.
Stewart Wallach, Capstone’s CEO, commented, “While our first quarter 2018 reflects a decline in topline revenues, our product lines sustained their shelf position and gross margins improved. Our strategy to stay clear of commodity products has proven effective.”
Gerry McClinton, Capstone’s CFO, added, “During the quarter, three new products were introduced and shipped. With the introduction of these new products, the quarter’s blended gross margin of 25.1% improved from 23.4% in same period 2017.” He further added, “Operating Expenses were $1.2 million the same as in 2017 Product Development expenses increased by $95 thousand over the same quarter 2017.” Net loss was $191 thousand for the quarter as compared to a net income of $251 thousand in the prior year period.
Webcast and Teleconference to Review Results and Outlook
The Company will host a live webcast and conference call on Tuesday, May 15, 2018 at 10:00 a.m. Eastern Time. During the call, management will review the financial and operating results and discuss the Company’s corporate strategy and outlook, followed by a question-and-answer session. The conference call can be accessed by dialing (201) 689-8562. The listen-only audio webcast can be monitored at www.capstonecompaniesinc.com.
A telephonic replay will be available from 1:30 p.m. Eastern Time the day of the teleconference until Tuesday, May 22, 2018. To listen to the replay of the call, dial (858) 384-5517 and enter replay pin number 13679529. 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 and marketing of consumer products to retail channels 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.
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CONTACT: Capstone Companies, Inc.
Aimee C. Gaudet, 954-252-3440, Ext. 313
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING RETAIL SPECIALTY
SOURCE: Capstone Companies, Inc.
Copyright Business Wire 2018.
PUB: 05/14/2018 04:15 PM/DISC: 05/14/2018 04:15 PM