Salt Lake City – Home-automation supplier Control4 posted sales and net income gains in the third quarter and added D&M Holdings executive James Caudill to its board of directors.
Third-quarter revenue grew 16 percent year-over-year to $39.1 million and by 16 percent for the nine-month period to $107.6 million. Net income grew 65 percent to $2.8 million in the quarter and by 250 percent to $4.2 million for the nine-month period.
For fiscal 2013, the company posted a 17 percent gain in revenues to $128.5 million and net income of $3.5 million, which contrasted with a 2012 net loss of $3.7 million.
For full-year 2014, the company expects revenue to be between $149 million and $151 million.
Caudill, who is D&M’s chairman and CEO, was brought on board as a director because of “a deep operational understanding of the consumer electronics industry, marketing and selling through channels, and scaling organizations to serve expanding opportunities." said Control4 chairman/CEO Martin Plaehn. Caudill’s experience in worldwide operations “brings global executive perspective to our board,” he added.