Control4 Reports Strong Growth for Q2 of 2016
Control4 experienced a 19% growth in revenue in the quarter compared to 2015.
SALT LAKE CITY — Control4 announced on Thursday a 19% growth in revenue for the second quarter of 2016. The company grew to $53.2 million in revenue compared to $44.6 million in the second quarter of 2015.
Total revenue for the first half grew 25% year-over-year from $76.7 million to $96.3 million, or 14% after excluding revenue from recently-acquired Pakedge Device & Software Inc.
Net income for the second quarter was $0.5 million, or $0.02 per diluted share, compared to the net income in the second quarter of 2015 of $2 million, or $0.08 per diluted share. Meanwhile, net income for the first half of 2016 was $7.2 million ($0.30 per diluted share) compared to a net loss of $2.2 million ($0.09 per diluted share) for the first half of 2015.
“Our teams delivered strong results stemming from our continued focus and investments in product development, marketing and sales,” said Martin Plaehn, chairman and chief executive officer of Control4, in a statement. “We are providing industry-leading home automation solutions side-by-side with robust, high-performance home networking solutions for today’s and tomorrow’s connected homes.”
Check out more details from the company’s financial report here.
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