Revolution Lighting Technologies, Inc. Announces Seesmart LED Lighting Order
CHARLOTTE, N.C., Jan. 24, 2013
CHARLOTTE, N.C., Jan. 24, 2013 /PRNewswire/ -- Revolution Lighting
Technologies, Inc. (NASDAQ: RVLT), a leader in advanced LED lighting
technology, announces the receipt of a $5 million order for LED lighting
products with a total potential value of $10 million. The energy-efficient LED
products will be manufactured by U.S.-based Seesmart, Inc., a wholly owned
subsidiary of Revolution Lighting Technologies, and will be installed in
retail stores, office complexes, warehouses and storage facilities. The
majority of the order will be installed within the first quarter of 2013.
Revolution Lighting Technologies expects to receive a second order totaling $5
million immediately thereafter.
"This initial order further validates our belief that there is an acceleration
of the LED lighting market taking place in the U.S. and abroad. We continue to
see a significant increase in our addressable market and believe this will
continue for the remainder of 2013 and beyond," said Robert V. LaPenta,
Chairman of Revolution Lighting Technologies, Inc.
"We are anticipating tremendous growth in 2013 as the millions of dollars of
quotes in our pipeline begin to convert to sales," said Ken Ames, Director of
Sales for Seesmart, Inc. "We have worked diligently in creating a solid
network of 50 exclusive distributors and 300 representatives to educate the
end-user about LED technology and its benefits. Seesmart is poised for rapid
growth this year while continuing to bring high quality, value engineered
products into the marketplace with key technology leaders."
For more information, please visit the Revolution Lighting Technologies, Inc.
web site at www.rvlti.com.
Certain of the above statements contained in this press release are
forward-looking statements that involve a number of risks and uncertainties,
including the satisfaction of closing conditions prior to the consummation of
the acquisition of Seesmart and the anticipated benefits of such acquisition.
Such forward-looking statements are within the meaning of that term in Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Reference is made to Revolution Lighting's filings under the
Securities Exchange Act for additional factors that could cause actual results
to differ materially. Revolution Lighting Technologies, Inc. undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise. Readers
are cautioned that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that actual
results may differ materially from those indicated in the forward-looking
statements as a result of various factors. Readers are cautioned not to place
undue reliance on these forward-looking statements.
SOURCE Revolution Lighting Technologies, Inc.
Contact: Gary Langford, Revolution Lighting Technologies, Inc.,
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