Control4 Swings to Loss in Q1

Home-automation supplier Control4 swung to a loss in the first quarter.
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Home-automation supplier Control4 swung to a loss in the first quarter and said a small 1 percent increase in sales was caused by backlogged shipments of new products.

Revenue for the quarter rose 1 percent to $32.1 million, and net loss hit $4.23 million compared to a year-ago net loss of $539,000.

In 2014’s fourth quarter and full fiscal year, Control 4 posted net income of $3.9 million and $8.2 million, respectively. First-quarter North American sales rose 1 percent to $24.4 million.

The company also reported that it added 84 North American dealers in the quarter, bringing its active dealer base to 2,614. It international dealer base grew by 64 to 718. Total first-quarter shipments of home-automation controllers fell to 13,931 from the year-ago quarter’s 16,224.

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