GrowLife Inc., a supplier of lights and other marijuana-growing supplies, announced on Tuesday higher revenue guidance for the remainder of the year. The Woodland Hills company said it expects revenue of $5.45 million, up from the $3.9 million to $4.3 million it expected earlier this year. The higher guidance follows the company’s $1.63 million purchase of three Colorado businesses: Rocky Mountain Hydroponics LLC of Golden, Evergreen Garden Center LLC of Kittredge, and 58Hydro.com of Edwards, units of RMH/EGC. GrowLife Chief Executive Sterling Scott said the company will benefit from its aggressive pace of acquisitions. “GrowLife believes that the present political climate creates an important and urgent opportunity to be strategically acquisitive in our industry,” he said, in a prepared statement. Shares of GrowLife were unchanged at 5 cents in over-the-counter-trading.
