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Orion Energy Systems Inc   (OESX)
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Price: $0.9000 $0.00 -0.033%
Day's High: $0.93 Week Perf: -1.53 %
Day's Low: $ 0.89 30 Day Perf: -13.46 %
Volume (M): 71 52 Wk High: $ 2.11
Volume (M$): $ 64 52 Wk Avg: $1.33
Open: $0.89 52 Wk Low: $0.10



 Market Capitalization (Millions $) 29
 Shares Outstanding (Millions) 33
 Employees 165
 Revenues (TTM) (Millions $) 80
 Net Income (TTM) (Millions $) -40
 Cash Flow (TTM) (Millions $) -9
 Capital Exp. (TTM) (Millions $) 1

Orion Energy Systems Inc

We are a leading designer and manufacturer of high-performance, energy-efficient lighting platforms. We research, develop, design, manufacture, market, sell and implement energy management systems consisting primarily of high-performance, energy-efficient commercial and industrial interior and exterior lighting systems and related services. Our products are targeted for applications in three primary market segments: (i.) commercial office and retail; (ii.) area lighting and (iii.) industrial applications, although we do sell and install products into other markets. Virtually all of our sales occur within North America.

We are primarily focused on providing commercial and industrial facilities lighting retrofit solutions in North America using solid state Light Emitting Diode (“LED”) technology. Our principal customers include national accounts, energy service companies, electrical contractors and electrical distributors. Currently, substantially all of our products are manufactured at our production facility location in Manitowoc, Wisconsin, although we are increasingly sourcing products and components from third parties as the LED market continues to evolve in order to have versatility in our product development.


While we continue to provide solutions using our legacy High Intensity Fluorescent (“HIF”) technology, we believe the market for lighting products has shifted to LED lighting systems. Compared to legacy lighting systems, LED lighting allows for better optical performance, significantly reduced maintenance costs due to performance longevity and reduced energy consumption. Due to their size and flexibility in application we also believe that LED lighting systems can address opportunities for retrofit applications that cannot be satisfied by other legacy technologies. LED lighting technologies are now the primary component of our revenue as we strive to be the leader in the industry transition to LED lighting technology. According to a July 2015 United States Department of Energy report ("DOE report"), we estimate the potential North American LED retrofit market within our key product categories to be approximately 1.1 billion lighting fixtures.

Reportable segments are components of an entity that have separate financial data that the entitys chief operating decision maker ("CODM") regularly reviews when allocating resources and assessing performance. Our CODM is our chief executive officer. Orion has three reportable segments: Orion U.S. Markets Division ("USM"), Orion Engineered Systems Division ("OES"), and Orion Distribution Services Division ("ODS").

We are primarily focused on providing commercial and industrial facilities lighting retrofit solutions in North America using solid state LED technology. While we continue to provide solutions using our legacy HIF technology, we believe the market for lighting products has shifted to LED lighting systems. Compared to legacy lighting systems, LED lighting technology allows for better optical performance, significantly reduced maintenance costs due to performance longevity and reduced energy consumption. Due to their size and flexibility in application we also believe that LED lighting systems can address opportunities for retrofit applications that cannot be satisfied by fluorescent or other legacy technologies.


Our products deliver energy savings and efficiency gains to our commercial and industrial customers without compromising their quantity or quality of light. We estimate that our energy management systems reduce our customers’ lighting-related electricity costs by approximately 50% to 80%, while increasing their quantity of light by approximately 50% and improving lighting quality when replacing traditional fixtures. Our customers typically realize a one to three year payback period from electricity cost savings generated by our lighting systems without considering utility incentives or government subsidies. We have sold and installed our lighting products in over 13,550 facilities across North America, representing approximately 2 billion square feet of commercial and industrial building space, including sales to 178 of the Fortune 500 companies.


Energy-efficient lighting systems are cost-effective and environmentally responsible solutions allowing end users to reduce operating expenses. Based on a July 2015 report published by the United States Department of Energy, or DOE, we estimate the potential North American HIF and LED retrofit market within our primary markets to be approximately 7 billion lighting fixtures. Our primary markets are: (i) commercial office and retail, (ii) area lighting and (iii) industrial high bay applications.
Commercial office and retail. Our commercial office and retail market includes commercial office buildings, retail store fronts, government offices, schools and other buildings with traditional ten to twelve foot ceiling heights. The DOE estimates that there are approximately 980 million office troffer fixtures within the United States, which is a rectangular light fixture that fits into a modular dropped ceiling grid. We believe we have the opportunity to increase our revenue by serving this market with our LED Door Retrofit, or LDRTM, lighting solutions.


Area lighting. Our market for area lighting includes parking garages, surface lots, automobile dealerships and gas service stations. The DOE estimates that there are approximately 65 million area lighting fixtures within the United States and an additional 44 million roadway lighting fixtures in the United States.
Industrial applications. Our market for industrial facilities includes manufacturing facilities, distribution and warehouse facilities, government buildings and agricultural buildings. These facilities typically contain high bay lighting fixtures. The DOE estimates that there are approximately 139 million low/high bay fixtures within the United States. We estimate that approximately 50% of this market still utilizes inefficient High Intensity Discharge ("HID") lighting technologies.


Commercial and industrial facilities in the United States employ a variety of lighting technologies, including HID, traditional fluorescents, LED and incandescent lighting fixtures. Our lighting systems typically replace less efficient HID and HIF fixtures. According to the Electric Power Research Institute, or EPRI, HID fixtures only convert approximately 36% of the energy they consume into visible light. We estimate our lighting systems generally reduce lighting-related electricity costs by approximately 50% to 80% compared to HID fixtures, while increasing the quantity of light by approximately 50% and improving lighting quality.


We believe that utilities within the United States recognize the importance of energy efficiency as an economical means to manage capacity constraints and as a low-cost alternative when compared to the construction costs of building new power plants. Accordingly, many of these utilities are continually focused on demand reduction through energy efficiency. According to our research of individual state and utility programs, 49 states, through legislation, regulation or voluntary action, have seen their utilities design and fund programs that promote or deliver energy efficiency. In fact, as of May 31, 2016, only Alaska, Delaware, and Maine do not currently have some form of utility or state energy efficiency programs for any of their commercial or industrial customers. Our products are not solely dependent upon these incentive programs, but we do believe that these incentive programs provide an important benefit as our customers evaluate their out-of-pocket cash investments.

50/50 Value Proposition. We estimate our lighting systems generally reduce lighting-related electricity costs by approximately 50% to 80% compared to legacy fixtures, while increasing the quantity of light by approximately 50% and improving lighting quality. In the commercial office and retail markets, we estimate our lighting systems generally reduce electricity costs by 50%. From December 1, 2001 through March 31, 2016, we believe that the use of our HIF and LED fixtures has saved our customers $3.7 billion in electricity costs and reduced their energy consumption by 48.2 billion kWh.
Multi-Facility Roll-Out Capability. We offer our customers a single source, turnkey solution for project implementation in which we manage and maintain responsibility for entire multi-facility roll-outs of our energy management solutions across North American commercial and industrial facility portfolios. This capability allows us to offer our customers an orderly, timely and scheduled process for recognizing energy reductions and cost savings.

Rapid Payback Period. In most retrofit projects where we replace HID and HIF fixtures, our customers typically realize a one to three year payback period on our lighting systems. These returns are achieved without considering utility incentives or government subsidies (although subsidies and incentives are continually being made available to our customers and us in connection with the installation of our systems that further shorten payback periods).


Easy Installation, Implementation and Maintenance. Most of our HIF and LED fixtures are designed with a lightweight construction and modular plug-and-play architecture that allows for fast and easy installation, facilitates maintenance and allows for easy integration of other components of our energy management system. Our office LED LDRTM products are designed to allow for a fast and easy installation without disrupting the ceiling space or the office work space. We believe our system’s design reduces installation time and expense compared to other lighting solutions, which further improves our customers’ return on investment. We also believe that our use of standard components reduces our customers’ ongoing maintenance costs.


Expanded Product Offerings. We are committed to continue developing LED product offerings in all of the markets we serve.



   Company Address: 2210 Woodland Drive Manitowoc 54220 WI
   Company Phone Number: 892-9340   Stock Exchange / Ticker: NASDAQ OESX
   


Customers Net Income grew by OESX's Customers Net Profit Margin grew to

20.89 %

3.92 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
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BELFB   -0.27%    
CAPC   -0.27%    
EFOI   -4.68%    
GE        1.46% 
LYTS        0.7% 
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Contract

Orion Energy Systems Expands EV Charging Business with Major Project for Long-Time Municipal Customer

Published Wed, Feb 28 2024 1:01 PM UTC

Orion Energy Systems' EV charging business, Voltrek, has successfully secured a significant project to install a mix of Level 2 and Level 3 EV chargers for a long-time municipal customer. This development highlights the company's commitment to expanding its presence in the growing electric vehicle charging market.In terms of financial performance, Orion Energy Systems Inc ha...

Product Service News

Orion Energy Systems Inc Reports Impressive Q324 Revenue Growth and Enhanced Cash Position, Updates FY 2024 Revenue Outlook

Published Thu, Jan 18 2024 12:29 PM UTC

Orion Energy Systems Inc, a provider of LED lighting, EV charging, and electrical maintenance solutions, has announced its preliminary Q324 revenue figures, which have seen a significant increase. According to the company, its revenue for the quarter is estimated to be between $25.8 million and $26.2 million. This marks a substantial improvement compared to previous quarters...

Orion Energy Systems Inc

Revamped Financial Outlook: Orion Energy Systems Inc Reports Higher Losses in Q2 2023 Earnings Season

Orion Energy Systems Inc, a leading provider of energy-efficient lighting and retrofit solutions, recently released their second-quarter earnings for 2023. The results indicate some signs of improvement, but also highlight certain challenges the company is facing.
One of the positive aspects of the report is the growth in revenue. For the second quarter of 2023, Orion's revenue increased by an impressive 17.232% compared to the same quarter the previous year, reaching $20.59 million. This sequential improvement of 16.88% from the previous quarter also demonstrates the company's ability to maintain steady growth. It is worth noting that this revenue growth comes at a time when most of Orion's competitors in the Electric & Wiring Equipment industry are struggling and experiencing a contraction in their top-line performance.
However, it is essential to acknowledge the negative aspects of Orion's earnings report. The company experienced a widening of its net deficit, reporting a loss of $-4.388 million for the second quarter of 2023, compared to a loss of $-2.331 million in the same period the prior year. This expansion in losses may be a cause for concern and warrants further investigation into the company's financial health.

Orion Energy Systems Inc

Orion Energy Systems Inc Faces Lackluster Earnings All Along Fiscal First Quarter of 2023

Weakening Orders Result in Diminishing Returns for Orion Energy Systems Inc in Q1 2023
Investors in Orion Energy Systems Inc faced disappointing results in the company's fiscal first quarter of 2023 as diminishing orders led to a decline in revenue and increased losses per share. Revenue sunk by 1.636% to $17.61 million compared to the same period last year when it stood at $21.63 million, a decline of 18.568%. Additionally, the loss per share reached -$0.21, a significant increase from the previous year's -$0.09 per share.
The net loss for Orion Energy Systems Inc intensified in Q1 2023, amounting to -$6.637 million, up from -$2.835 million in the previous year. These disappointing financial figures may concern investors and raise questions about the company's future prospects.

Orion Energy Systems Inc

Dramatic Revenue Decline Fuels Orion Energy Systems' Quiet 4th Fiscal Quarter of 2023

Orion Energy Systems Inc has reported a decline in demand during the period from January to March 31, 2023, which resulted in diminishing returns for the company. The revenue for the said period has decreased by 1.945% from the previous year to $21.63 million. Moreover, the deficit per share was at $-0.15, in contrast to $-0.04 per share reported in the reporting period a year prior. This indicates a significant decrease in earnings as compared to the previous year.
However, it is worth noting that there has been a slight improvement in the EPS, which was reported at $-0.75 per share in the previous year and has now increased to $-0.15 per share. Additionally, the revenue for the current period has increased by 6.61% from $20.29 million, which shows that the company has been able to generate more revenue despite the decline in demand.






 

Orion Energy Systems Inc's Segments
 
 
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