Welcome to our dedicated page for Orion Energy Sys news (Ticker: OESX), a resource for investors and traders seeking the latest updates and insights on Orion Energy Sys stock.
Orion Energy Systems, Inc. reports news about energy-efficiency and clean-tech solutions for commercial, industrial, public-sector and large national customers. The company provides LED lighting and controls, EV charging stations and infrastructure through Orion/Voltrek, maintenance services, electrical contracting, and turnkey design-through-installation project work delivered directly and through ESCO and distribution partners.
Recurring updates include enterprise project awards, EV charging deployments, lighting product introductions, battery energy storage offerings, industry event participation, customer and partner activity, and management commentary on revenue growth and profitability. Coverage also reflects Orion's role as a licensed electrical contractor and its expansion of infrastructure services across customer facilities.
Orion Energy Systems (NASDAQ: OESX) announced its Board of Directors has decided to let its shareholder rights plan expire on January 7, 2022. CEO Mike Altschaefl stated that the expiration reflects the company's current profitability and solid growth, deeming the plan unnecessary. Originally implemented in 2009 to protect against hostile takeovers, the board believes that Orion’s improved financial performance justifies this decision. The company specializes in energy-efficient LED lighting and IoT systems, aiming to help clients reduce energy consumption and carbon footprints.
Orion Energy Systems reported strong Q2 2022 results, with revenues rising to $36.5M, up 38.9% from $26.3M in Q2 2021, primarily driven by national account projects. Gross profit improved to $10.8M, with a gross margin of 29.5%, aided by a $1.6M employee retention payroll tax credit. Net income reached $3.7M, up from $1.9M in the prior year. Despite supply chain challenges, Orion maintains a solid liquidity position with approximately $40M and anticipates FY 2022 revenues of at least $150M, although risks remain due to economic uncertainties.
Orion Energy Systems, Inc. (NASDAQ: OESX) announced the appointment of Michael H. Jenkins as Chief Operating Officer (COO), effective immediately. Jenkins has over 25 years of experience in operations and business leadership, previously serving at Bostik, Inc., where he significantly increased revenue and transformed business operations. This management change aims to bolster Orion's growth strategy and operational capabilities. Scott Green has been promoted to President of Orion Services Group, ensuring continuity in leadership for the company's turnkey lighting services.
Orion Energy Systems, Inc. (NASDAQ: OESX) will host a conference call on November 9, 2021, at 10:00 a.m. ET to discuss its fiscal 2022 second quarter results. The company will release the results prior to the market open, allowing investors to gain insights into its performance. Orion specializes in energy-efficient LED lighting solutions and IoT systems, focusing on project implementation and maintenance to help clients reduce energy costs and environmental impact.
Orion Energy Systems (NASDAQ: OESX) has announced new LED lighting retrofit projects for two school districts in Long Island, NY, in partnership with Synergy Investment, Inc. This addition brings the total number of lighting projects in the area to four. Collectively, the projects are anticipated to save over 7.2 million kilowatt hours (kWh) annually. The installation of approximately 26,000 Harris LDR LED Troffer Retrofit lighting fixtures will enhance energy efficiency and improve lighting conditions in the schools.
Orion Energy Systems (NASDAQ: OESX), a leader in energy-efficient LED solutions, will participate in H.C. Wainwright's 23rd Annual Global Investment Virtual Conference on September 13-14, 2021. CEO Mike Altschaefl will present a webcast starting at 7:00 a.m. ET on September 13. Both Altschaefl and CFO Per Brodin will be available for virtual meetings during the conference. Orion specializes in LED lighting systems, IoT solutions, and project management, helping clients lower energy costs and reduce carbon footprints.
Orion Energy Systems reported strong Q1 2022 results, with revenue reaching $35.1M, a 225% increase from $10.8M in Q1 2021, driven by national account projects. Gross profit surged to $10.2M, yielding a gross profit margin of 29.1%. Net income improved to $2.5M, or $0.08 per share, compared to a loss of $2.2M last year. Orion expects FY 2022 revenue of $150-155M, up at least 28%, supported by diverse opportunities despite possible COVID-19 impacts and supply chain challenges. The company ended Q1 with $15.9M in cash and significant liquidity to support growth.
Orion Energy Systems, Inc. (OESX) has been recognized by inside.lighting for the efficiency of its LED lighting products. The ISON™ High Bay Industrial Fixture achieved 209.8 lumens per watt, ranking it as the most energy-efficient LED high bay fixture in the High Lumen category. Additionally, Orion's Harris High Bay Star Line was noted as the #2 most efficient fixture in the Ultra-High Lumen category with 189.9 lumens per watt. CEO Mike Altschaefl expressed pride in the recognition, highlighting Orion’s commitment to quality and customer service.
Orion Energy Systems, Inc. (NASDAQ: OESX) will host a conference call and webcast on August 4, 2021, at 10:00 a.m. ET to review its fiscal 2022 first quarter results. The results will be released before market open on the same day. Investors can participate by dialing (877) 754-5294 for the U.S. or (678) 894-3013 internationally. An audio replay will be available shortly after the call until August 11, 2021. Orion specializes in energy-efficient LED lighting and IoT systems, aiding customers in achieving energy savings and sustainability.
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.