CNA Finance | Mar 10, 2016 10:19AM ET
As expected, Revolution Lighting Technologies (NASDAQ:RVLT) reported its earnings for the fourth quarter before the market open today. The company also offered information with regard to what it expects to do in the fiscal year 2016 as well as the first quarter of 2016. Here's what we saw from the report...
Aside from earnings, RVLT made another big announcement today. At the opening of trading on March 11, the company will be performing a one-for-ten reverse stock split, under which investors will receive one share for every 10 outstanding shares they own. In a statement, Robert V LaPenta, CEO and Chairman of Revolution Lighting Technologies had the following to say:
h3 How The Market Reacted To The News/h3Revolution lighting is a dramatically different company than it was four years ago. The reverse stock split is an important step in the growth of our company as we continue to focus on shareholder value, improving marketability and liquidity.
As investors, we know that the news moves the market. So, with such substantial pieces of news coming from RVLT early today, it only makes sense that we're seeing movement on the stock. It's clear by the movement that we're seeing that investors are not only excited about the revenue beat and solid guidance, but also the reverse stock split. Currently (9:54), RVLT is trading at $0.77 per share after a gain of $0.03 per share or 4.22% thus far today.
h3 What We Can Expect To See Moving Forward/h3Moving forward, I have a relatively bullish opinion of what we can expect to see from Revolution Lighting Technologies. First and foremost, it's easy to brush off a slight miss on earnings at this stage in the game and exciting to see such strong revenue. Also, I have to say that full year guidance came in a bit higher than what I was expecting, which is pretty exciting. When it comes to the reverse stock split on RVLT, I can understand the move from a liquidity standpoint. All in all, things are looking relatively positive for RVLT, and I'm expecting to see long term gains.
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