Revolution Lighting Technologies Provides Business Update

  Revolution Lighting Technologies Provides Business Update

4th Annual Craig-Hallum Alpha Select Conference

Business Wire

STAMFORD, Conn. -- October 1, 2013

Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) (“Revolution Lighting”),
a leader in advanced LED lighting technology, today provided a business update
following President and Chief Financial Officer Charlie Schafer’s presentation
at Craig-Hallum’s 4^th Annual Alpha Select Conference on September 26, 2013 in
New York City.

Key highlights of Schafer’s presentation and Revolution Lighting’s financial
performance included:

  *A robust pipeline of $150M in actionable opportunities over the next three
    to twelve months
  *Expected organic growth of greater than 50% for 2014-2016
  *Target gross margins of 35% or greater for 2014-2016
  *Expected pro forma revenue of approximately $17M for the second half of
    2013
  *Expected full year pro forma 2013 revenue of approximately $35M
  *Adjusted EBITDA margins of 15% or greater for 2014-2016

Schafer indicated that pro forma revenue for the second half of 2013 will be
approximately $17 million. As a result of certain international orders coming
in later than expected, third quarter revenue is expected to be between $5-6
million and fourth quarter revenue is expected to be in excess of $10 million.
Pro forma revenue for all of 2013 is expected to total approximately $35
million after giving effect to the Relume and Seesmart acquisitions,
representing 100% organic growth over 2012 pro forma revenues.

Schafer added, “2013 has been a successful year for Revolution Lighting. We
expanded our distribution network and completed the acquisition of Relume
Technologies, which broadened our product portfolio, and strengthened our
engineering and management capabilities. We are now well-positioned for the
anticipated growth to come in 2014 and beyond.”

Schafer’s presentation and live audio webcast are accessible via the
Revolution Lighting website at the following link:
http://ir.rvlti.com/ir-calendar

About Revolution Lighting Technologies Inc.

Revolution Lighting Technologies, Inc. is a leader in the design, manufacture,
marketing, and sale of light emitting diode (LED) lighting solutions focusing
on the industrial, commercial and government markets in the United States,
Canada, and internationally. Through advanced technology and aggressive new
product development, Revolution Lighting has created an innovative,
multi-brand, lighting company that offers a comprehensive advanced product
platform. The company goes to market through its Seesmart brand, which
designs, engineers and manufactures an extensive line of high-quality interior
and exterior LED lamps and fixtures; Lighting Integration Technologies Inc.,
which sells and installs Seesmart products; Lumificient, which supplies LED
illumination for the signage industry; Relume Technologies, a leading
manufacturer of outdoor LED products; and Sentinel, a revolutionary patented
and licensed monitoring and smart grid control system for outdoor lighting
applications. Revolution Lighting Technologies markets and distributes its
product through a network of independent sales representatives and
distributors, as well as through energy savings companies and national
accounts. Revolution Lighting Technologies trades on the NASDAQ under the
ticker RVLT. For additional information, please visit: www.rvlti.com.

Cautionary Statement for Forward-Looking Statements

Certain of the above statements contained in this press release are
forward-looking statements that involve a number of risks and uncertainties,
including the anticipated benefits of the Relume acquisition and statements
relating to the anticipated future growth and profitability of our business.
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, including our history of losses, the potential for
future dilution to our existing common stockholders, our status as a
controlled company, the risk that demand for our LED products fails to emerge
as anticipated, competition from larger companies, and risks relating to third
party suppliers and manufacturers, as well as the other Risk Factors described
in Item 1A of our Form 10-K for the fiscal year ended December 31, 2012.
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.

Adjusted EBITDA

We use Adjusted EBITDA as a non-GAAP measure of financial performance.
Adjusted EBITDA is calculated by adding back to net income or loss interest
and financing related transactions, acquisition related transactions, income
taxes, depreciation and amortization, asset impairments, stock based
compensation charges, and severance and transition costs. Adjusted EBITDA is
provided to investors to supplement the results of operations reported in
accordance with GAAP. Management believes that Adjusted EBITDA is useful to
help investors analyze the operating trends in the business and to assess the
relative underlying performance of businesses with different capital and tax
structures. Management believes that Adjusted EBITDA provides an additional
tool for investors to use in comparing our financial results with other
companies that use Adjusted EBITDA in their communications with investors. By
excluding non cash charges such as amortization and depreciation, stock based
compensation, asset impairments as well as non operating charges for income
taxes, interest and financing charges, acquisition related and severance and
transition costs charges investors can evaluate our operations and compare our
results with the results of other companies on a more consistent basis.
Management also uses Adjusted EBITDA to evaluate potential acquisitions,
establish internal budget and goals and evaluate the performance of business
units and management.

We consider Adjusted EBITDA to be an important indicator of our operational
strength and performance and a useful measure of historical and prospective
trends. However there are significant limitations of the use of Adjusted
EBITDA since it excludes interest income and expenses, financing related and
acquisition related transactions and severance and transition costs, income
taxes, all of which impact profitability, as well as depreciation and
amortization related to the use of long lived assets that benefits future
periods. We believe that limitations are compensated by providing Adjusted
EBITDA only with GAAP performance measures and clearly identifying the
differences between the two measures. Consequently, Adjusted EBITDA should not
be considered in isolation or as a substitute for net income or loss or
operating income or loss presented in accordance with GAAP. Moreover, Adjusted
EBITDA as defined by the Company may not be comparable to similarly titled
measure provided by other entities.

Contact:

ICR
Anton Nicholas, 203-682-8200
Anton.Nicholas@icrinc.com
Cory Ziskind, 203-682-8200
Cory.Ziskind@icrinc.com
 
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