NEW YORK (TheStreet) -- On a busy Friday featuring the nonfarm payrolls report for the month of July, Control4 (CTRL) made its public debut. Talking to the company's CEO Martin Plaehn is TheStreet's Debra Borchardt.
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. Follow @BretKenwell
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