Lumenpulse Group Reports Record Q2 Fiscal 2017 Results
December 14, 2016
Lumenpulse Inc. has achieved revenue for Q2 Fiscal 2017 51% greater than Q2 Fiscal 2016. Lumenpulse Inc. is the parent company of the Lumenpulse Group, a manufacturer of high performance, specification-grade LED lighting solutions.
“The second quarter results represent a milestone in the company’s financial performance. The product portfolios, including acquired product portfolios, generated significant year-over-year growth,” says Francois-Xavier Souvay, President and CEO of the Lumenpulse Group.
“Our North American sales teams, which now have access to four of our five brands including Fluxwerx, delivered solid revenue growth. Outside North America, our growth was tempered by the financial underperformance in the U.K. At this time, the financial performance of our experienced UK sales team does not truthfully reflect the performance of this team in building our presence, developing pipeline of specified projects, and the key role they play in developing various project specifications that originate in the U.K. but are delivered elsewhere in the world… While economic uncertainty in the U.K. persists, we remain cautiously optimistic about our future prospects in the region. Other regions are performing in line with expectations.
“We continue to execute on our product road map. During the second quarter, we successfully introduced the new Lumenalpha collection, which adds 30 new luminaires for commercial, retail, institutional and hospitality markets. We also launched the latest generation of the Lumencove Nano and new optics for Lumenline. Furthermore, we are realizing synergies across our portfolios, with orders that include several brands for the same project,” continues Souvey.
“As we have consistently said, quarterly performance is not necessarily an indicator of annual performance. However, Q2 Fiscal 2017 is a strong indicator of the expected future financial performance of our business. We remain focused on delivering our full fiscal year targets as quarterly results always remain subject to short-term variability,” he says.
