Control 4 revenues grew in the company’s fiscal third quarter ending Sept. 30, but net income fell in the quarter, and the home-control company posted a net loss for the first nine months of the year.
Control4’s core U.S. and core international businesses posted revenue growth of 15 percent and 19 percent, respectively, driving up global core-business growth by 19 percent. Revenue growth would have been higher, however, if not for softness in the company’s non-core hospitality business, Control4 said.
The number of active dealers in North America rose to 2,703 from the year-ago 2,566, and the total number of active dealers on a global basis rose to 3,499 from 3,236.
“We continue to make strategic investments to drive profitable near and long-term growth," said chairman/CEO Martin Plaehn. The company will continue to invest in direct-to-consumer advertising.
Here’s what Control 4’s numbers show:
Revenue: Third-quarter revenues grew 11 percent to $43.6 million, and nine-month sales were up 12 percent to $107.6 million.
Net income: Net income in the quarter fell 57 percent to $1.2 million from the year-ago quarter, and the nine-month net loss hit $1 million, compared to year-ago net income of $4.2 million.