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 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.
Orion Energy Systems reported strong Q3 FY 2021 results, with revenue rising to $44.3M, a 29.2% increase from $34.2M in Q3 FY 2020. The gross profit margin improved to 24.9% despite increased service revenue from national account projects. Net income rose to $4.3M, or $0.14 per share, reflecting higher revenue. The company announced a new $25M revolving credit facility to support growth and anticipates yearly revenue of at least $117M for FY 2021, driven by strong demand across various sectors, although COVID-19 risks remain.
Orion Energy Systems (NASDAQ: OESX) announced plans to expand its product line with a new family of ceiling air movement solutions, including models that incorporate LED lighting and UVC light waves to kill viruses and bacteria. The company has signed a licensing agreement with Go Fan Yourself to utilize their patented technologies. The ISON-branded products will enhance energy efficiency and workplace safety, addressing growing concerns about air quality in the wake of the COVID-19 pandemic. This expansion reflects Orion's commitment to sustainable and healthy solutions for work environments.
Orion Energy Systems (NASDAQ: OESX) will host a conference call/webcast on February 11, 2021, at 10:00 a.m. ET to discuss its FY 2021 third quarter results. The financial results will be released premarket on the same day. Orion specializes in LED lighting, controls, and IoT systems, providing turnkey project implementation and ongoing maintenance, enabling businesses to reduce their carbon footprint.
Orion Energy Systems (NASDAQ: OESX) has secured a new five-year revolving credit facility worth $25 million with Bank of America, which replaces its previous $20.15 million credit line with Western Alliance Bank. This new facility provides a 25% increase in financing capacity and improved terms, aimed at supporting the company's growth and liquidity needs. As of the closing date, no amounts have been drawn against the line of credit, which is secured by a first lien on the company’s assets.
Orion Energy Systems (NASDAQ: OESX) announced a $40 million contract extension to retrofit 290 locations with LED lighting and controls for a large national retail customer. Revenue from these additional locations is expected to begin recognition in Q4 Fiscal 2021 through Q3 Fiscal 2022. Upon completion, approximately 1,570 locations will have been retrofitted. The project includes energy audits, project engineering, custom design, and IoT integration, which enhance operating performance.
Orion Energy Systems (NASDAQ: OESX) will participate in the LD Micro Virtual Main Event Investor Conference on December 14th, featuring CEO Mike Altschaefl and CFO Per Brodin. The presentation will begin at 10:20am ET and include a Q&A session. The conference, held on December 14-15, highlights over 250 small and micro-cap companies. Orion specializes in LED lighting systems and turnkey project implementation, focusing on energy efficiency and sustainability for clients, including nearly 40% of the Fortune 500.
Orion Energy Systems (NASDAQ: OESX) will participate in the 11th Annual Craig-Hallum Alpha Select Investment Conference on November 17, 2020. CEO Mike Altschaefl and CFO Per Brodin will represent the company in this virtual event. The Alpha Select List, curated by Craig-Hallum, highlights micro-cap companies with significant growth potential. Orion specializes in LED lighting systems and turnkey project implementation, focusing on energy efficiency and carbon footprint reduction for a diverse clientele, including nearly 40% of the Fortune 500.
Orion Energy Systems reported Q2 FY 2021 results with revenue increasing sequentially to $26.3M from $10.8M in Q1, though down from $48.3M year-over-year, primarily due to COVID-19 impacts. The gross profit margin improved to 27.6%, up from 24.4% in Q1. Orion expects Q3 and Q4 revenue of at least $40M each, driven by strong customer demand including a $41M contract extension from a major retailer. Despite challenges, the company aims for full FY 2021 revenue of at least $117M, reflecting improved business momentum and ongoing project activity.