Control 4 Snap Up OZ Leaf Technology For $9M In Cash After Announcing Record Results
On Friday Control4 posted strong revenue and profits with sales up 15% in the fourth quarter and full fiscal year ending December.
The $9M in cash Leaf deal will see Australian developed automation products sold globally.
Control4 said it “is now in a better position” to offer a broader array of Leaf products, gain market share in the growing A/V category, and “leverage Leaf’s valuable engineering expertise to develop new and innovative A/V entertainment solutions.”
The Leaf product-development team in Melbourne will work with Control4 engineering teams in Salt Lake City and San Jose to create new products. With Leaf products, A/V content from any source can be sent to any TV within the home without the need for a separate video source for each TV, such as cable boxes, satellite receivers and streaming devices.
Control4 chairman/CEO Martin Plaehn, “Offering the entire Leaf product line to our network of independent dealers will introduce the benefits of distributed-video content to many more homeowners around the world, and by combining our engineering talent, we can accelerate the development of new entertainment experiences for our customers.”
In the fourth quarter of 2014 Control 4 sales rose 15 percent to $41.2 million, with full-year revenue rising 16 percent to $148.8 million.
Net income for the fourth quarter rose 70 percent to $3.9 million; it rose 124 percent to $8.2 million, from $3.5 million, for the full year.
Operating income rose 69 percent in the quarter to $2.46 million, and for the full year by 80 percent to $8.16 million. Chairman/CEO Martin Plaehn attributed the gains to “the increasing awareness of the benefits of home automation” and more consumer electronics companies integrating Control4’s Simple Device Discovery Protocol into their products to enable control from Control4 home-automation systems.
“We are also advancing our solutions for existing homes and new construction through strategic relationships we have formed with homebuilders and our large and growing dealer network,” he added. For fiscal 2013, the company posted a 17 percent gain in revenues to $128.5 million and net income of $3.5 million, which contrasted with a 2012 net loss of $3.7 million.