Capstone Companies, Inc. (OTCQB: CAPC) Gained 18.60% After Announcing Record Preliminary Third Quarter 2017 Revenue Results
Capstone Companies, Inc. (OTCQB: CAPC) is engaged within the design and distribution of the LED lighting solutions for retail and commercial customers. Shares of the LED lighting company gained 18.60%, during trading on Thursday, October 19, 2017. Over the past month Capstone Companies, Inc. has seen average daily volume of 35,917. However, volume of 215,517 shares or dollar volume of $109,913, has already exchanged hands on the day.
Shares of Capstone Companies, Inc. rallied today after the company reported record preliminary third quarter 2017 revenue results. During the third quarter, the company reported revenue of $13 million, which is an increase of 11% year-over-year. Management forecasts that preliminary year-to-date revenue will breach $30 million, which would be growth of 32.2% from same period in 2016. Here is the full press release detailing of the preliminary revenue announcement:
Capstone Companies, Inc. Press Release:
Capstone Companies, Inc. (OTCQB: CAPC) (“Capstone” or the “Company”), a designer of innovative LED lighting solutions including power failure lighting, today announced preliminary third quarter revenue as of September 30, 2017 of approximately $13 million, an increase of 11% over the prior year period. Preliminary year-to-date revenue is expected to exceed $30 million, an increase of approximately $7.3 million or 32.2% as compared to the same period 2016.
Mr. Wallach commented, “This performance marks the ninth consecutive record quarter and further validates the momentum our Company is experiencing. At the end of the third quarter, our estimated year-to-date revenue of approximately $30 million is nearly as much as we shipped for the entire year in 2016. Our strategy to develop and market unique LED consumer lighting products, leverage our strong relationships with large retailer customers and produce high quality, low cost products continue to be successful.”
About Capstone Companies, Inc.
Capstone Companies, Inc. is a designer of innovative LED lighting solutions including power failure lighting, for consumers and institutions. The Company’s products are sold under the Capstone Lighting and Hoover® HOME LED brands, to big box retailers, wholesale clubs, and home improvement stores throughout North America and in international markets. Capstone’s strategy is to utilize its low-cost manufacturing base to provide high-quality consumer products to its customers at a reasonable price, using primarily direct import distribution.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171019005044/en/
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