Dallas, Texas 11/11/2013 (Financialstrend) – The $253 million small capped diversified electronics player Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) has managed to turn around the downward trending prospects of the firm over the past few months significantly when it announced performance results for its third quarter operations. The impressive potential the results indicated led to a surge in the price of the stock by 21% during just one day of trading on November 8.
The firm was able to bring in revenue of $5.3 million which was close to 4.5 times more than its 3Q12 numbers. This increase news gets tempered when one considers that the firm was able to boast of record $7.4 million in revenue from its sequential 2Q13 earnings. Due to the steady increase in revenue, its net losses have come down to $3.1 million for the quarter. Sequentially, this indicates a $2 million reduction in net loss since in 2Q the firm has reported net loss of $5.1 million in spite of record revenue in that particular quarter. Readers should also note that these revenue numbers include partial revenue contribution for the quarter from its recent acquired firm Relume Tech. The big jump in share price of the stock was also being linked to the robust increase in the 4Q revenue guidance that this small cap electronic supplier provided as part of the 3Q earnings call. It expects to post a doubling of its 3Q revenue to $10 million in its fourth quarter and expects to come out of the next fiscal year 2014 with a staggering $50 million revenue yield. Its gross margin for the quarter is 26%, slightly up from its 25% increase in 3Q12.At these heightened valuations, and the share price is at $3.28 per share and is up 613% from its prior 52 week low price of $0.46.