Orion Energy Sys Inc Stock Price, News & Analysis

Orion Energy Systems (NASDAQ: OESX) announced that its ISON PureMotion™ UVC and Light products won four 2021 Spaces4Learning New Product Awards. These innovative systems promote healthier indoor environments through advanced LED and air movement technology, addressing hygiene and energy efficiency. The CEO highlighted the products' role in enhancing indoor air quality and comfort while reducing energy consumption. The awards underscore Orion's commitment to developing safe and sustainable solutions for educational facilities.

Orion Energy Systems (OESX) reported a strong Q4’21 with revenue of $35.5M, up 37% year-over-year, and net income of $22.1M, driven by national account activity. Despite challenges from COVID-19, FY 2021 revenue reached $116.8M. A significant non-cash tax benefit of $20.9M was recognized, inflating net income figures. The company expects FY 2022 revenue to rise by at least 28%, targeting $150M to $155M. New product lines, operational efficiencies, and a diverse customer base support this optimistic outlook, emphasizing substantial growth potential in the LED market.

Orion Energy Systems will participate in two upcoming virtual investor conferences: the 18th Annual Craig-Hallum Institutional Investor Virtual Conference on June 2, and the LD Micro Invitational XI on June 8. CEO Mike Altschaefl and CFO Per Brodin will engage in meetings with investors on June 2. Orion specializes in energy-efficient LED lighting, controls, and IoT systems, aiming to help customers reduce their carbon footprint while enhancing energy savings through innovative solutions.

Orion Energy Systems (NASDAQ: OESX) will host a conference call/webcast on June 1, 2021, at 4:30 p.m. ET to discuss its fiscal 2021 fourth quarter and annual results ending March 31. The company plans to release its financial results after the market closes the same day. Orion specializes in energy-efficient LED lighting systems, providing services including implementation, maintenance, and program management. Their innovative solutions aim to help customers reduce carbon footprints while achieving energy savings.

Orion Energy Systems (NASDAQ: OESX) announced a $0.5 million strategic investment in ndustrial, a software provider optimizing industrial facilities. This investment was part of ndustrial's $6 million Series A financing, co-led by ENGIE New Ventures and Clean Energy Ventures. Orion CEO Mike Altschaefl highlighted the synergy between the two companies, aiming to enhance energy-efficient solutions and customer service. Orion's collaboration with ndustrial is expected to drive innovation, efficiency, and competitive advantage across various industries.

Orion Energy Systems (NASDAQ: OESX) has secured $16.4 million in follow-on orders from major retail customers. This includes a $14.9 million contract extension with a national retail customer and an additional $1.5 million award from a specialty retail customer, expected to be completed in FY’22. These projects will involve the installation of energy-efficient LED lighting and IoT controls, aimed at enhancing operational performance. CEO Mike Altschaefl expressed confidence in achieving a revenue target of at least $150 million for FY’22, following a revenue of approximately $117 million in FY’21.

Orion Energy Systems (NASDAQ: OESX) announced new commitments to provide custom LED lighting fixtures for ten additional facilities of a global online retail customer, generating approximately $7.6 million in revenue. These projects are set to commence in the fiscal 2021 fourth quarter and conclude in fiscal 2022. CEO Mike Altschaefl emphasized the ongoing partnership's strength and the company's commitment to quality and energy efficiency, highlighting the competitive edge of their custom products.

Orion Energy Systems announced participation in the 33rd Annual Roth Conference from March 15-17, 2021. CEO Mike Altschaefl and CFO Per Brodin will hold virtual investor meetings during the event. A pre-recorded presentation will be available on March 5, 2021, at 3PM ET. The Roth Conference will feature around 400 companies, offering small group meetings and industry panels, focusing on growth sectors.

Orion specializes in energy-efficient LED lighting and IoT systems, aiding businesses in energy savings and sustainability.

Orion Energy Systems (NASDAQ: OESX) announced the appointment of Tim Rooney as Executive Vice President of Sales, enhancing its senior management team. Rooney, an industry veteran with over 30 years of experience in sales management within the electrical and lighting sectors, will oversee all sales operations. CEO Mike Altschaefl emphasized that this move supports the company's long-term growth and expansion goals. Rooney expressed enthusiasm about joining a team committed to innovation and customer service in the LED lighting and controls industry.