Control4 Announces $20 Million Stock Repurchase Program

Control4 Corporation (NASDAQ:CTRL), a leading provider of automation and control solutions for the connected home, today announced that its Board of Directors has authorized the repurchase of up to $20 million in Control4 common stock from time to time on the open market. The authorization by the Board of Directors will expire in one year, or when terminated earlier.

The timing and amount of any repurchase of common stock will be determined by Control4 management based on its evaluation of market conditions and other factors. Any repurchase of its common stock is subject to insider trading laws as well as Control4’s insider trading policies. The repurchase program may be suspended or discontinued by Control4 at any time.

"Control4 continues to be a leader in providing premium smart-home solutions, including intelligent lighting, whole-home music and video distribution, and advanced comfort systems," said Martin Plaehn, chairman and chief executive officer of Control4. "Given our strong working capital position and our expected future cash flow, we believe that we are in a strong position to continue our planned initiatives to fund our growth, as well as repurchase Control4 shares per our newly authorized plan."

The repurchase program will be funded using Control4’s working capital. As of March 31, 2015, Control4 had cash, cash equivalents and net investments of $84.1 million. As of March 31, 2015, Control4 had approximately 24.3 million common shares outstanding.

About Control4 Corporation (NASDAQ: CTRL):

Control4 [NASDAQ: CTRL] is a leading provider of automation systems for homes and businesses, offering personalized control of lighting, music, video, temperature, security, communications and similar functionalities into a unified automation solution that enhances the daily lives of its customers. Control4 unlocks the potential of connected devices, making entertainment systems easier to use, homes more comfortable and energy efficient, and families more secure. More than 75% of Control4's consumers have integrated two or more functionalities with Control4's solution, which is available through more than 3,300 custom integrators, retail outlets, and distributors in over 90 countries. By delivering insightfully simple control solutions that enhance the lives of individuals and families, Control4 is the automation platform of choice for consumers, major consumer electronics companies, hotels, and businesses around the world.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the authorization by the Board of Directors to repurchase up to $20 million of its common stock from time to time on the open market as determined by Control4 management based on its evaluation of market conditions and other factors and whether or not shares will be repurchased under this program. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These forward-looking statements are made as of the date they were first issued and are based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Control4’s control. Control4’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in Control4’s risk factors discussed in filings with the U.S. Securities and Exchange Commission (“SEC”), including but not limited to Control4’s Annual Report on Form 10-K for the year ended December 31, 2014, as well as other documents that may be filed by the Company from time to time with the SEC.

Source: Control4