Updated first quarter 2017 revenue expectation to $5.5 million,
up from prior guidance of an estimated $4.1 million
- Fourth consecutive “record” quarter performance
Strong backlog continues for orders of new products to be
available at retail in Q1 & Q2 2017
DEERFIELD BEACH, Fla.–(BUSINESS WIRE)–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 2017 first quarter
to $5.5 million. The increases in guidance provided today are based on
increased presence of the Company’s product on store shelves of its
large U.S. retailers, higher customer demand for the Company’s products
and strong reorder activity that is driving growing backlog.
Stewart Wallach, Capstone’s CEO, commented, “Our 2017 Q1 revenue
expectations further validate the momentum our Company is experiencing.
At the close of Q1, we will have had four consecutive record quarters
yielding trailing 12 month revenues of an estimated $34.5 million.
Importantly, the Company backlog continues to grow and remain strong
supporting Q2 and Q3.”
He added, “Sales and marketing have reported strong product placement
and Q1 includes the shipments of five new product entries for 2017.”
Additionally Larry Sloven, President of Capstone International Hong Kong
reports, “The Company has received orders from two leading home
improvement retailers in the Pacific Rim that furthers the Company’s
international reach. This new distribution falls on the heels of record
international sales in 2016.”
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.
Capstone Companies, Inc.
Aimee Gaudet, 954-252-3440, ext. 313