Control4 IPO Jumps
Think of Control4 as the operating system for your home. The company connects all the devices -- thermostat, home entertainment, security system, etc. -- in the home and makes it controllable from a mobile device, either at the home or on the go.
Plaehn said he expects top-line growth to remain strong; it's hovered around 23% for each of the previous four years. He's relying on the company's under-penetration in its main markets to continue fueling sales.
He also said that while the business is naturally cyclical -- with the highest sales coming in the fourth quarter of the calendar year -- the company has been around long enough to know how to manage the seasonality.
Shares priced in the middle of the range at $16, but have since popped higher, opening at $18.70, with a high of nearly $20.
-- Written by Bret Kenwell in Petoskey, Mich.