LED Lighting and EV Charging Solutions Provider Orion Previews FY 2024 Results in Anticipation of its Singular Research Webinar Presentation Wed. May 22 at 3pm ET
16 Mai 2024 - 2:05PM
Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a
provider of energy-efficient LED lighting, electric vehicle (EV)
charging stations, and maintenance service solutions, announced
preliminary, unaudited results for its fiscal 2024 fourth quarter
and full year ended March 31, 2024 in anticipation of its
presentation at Singular Research’s Spring Select Webinar,
Wednesday, May 22nd at 3:00 p.m. All investors are invited to
participate in the webinar at no cost. Registration and meeting
details are below.
CEO Mike Jenkins and CFO Per Brodin will provide an overview
presentation for the Singular Research webinar, followed by an
investor Q&A session. Management will also be available for
virtual investor meetings. Please contact your Singular
representative or OESX@catalyst-ir.com to arrange a virtual
meeting.
Orion plans to report its fiscal 2024 results and hold a
conference call on Thursday, June 6th at 10.00 a.m. ET; call
details will be announced in advance.
Q4’24 and FY 2024 PreviewOrion reported
preliminary Q4’24 revenue of approximately $26.4M, an increase of
approximately 22% over Q4’23 revenue of $21.6M. Orion also reported
a preliminary FY 2024 revenue of approximately $90.6M, representing
an approximate 17% increase over FY 2023 revenue of $77.4M.
- LED lighting revenue increased to
approximately $16.3M in Q4’24 vs. $14.4M in Q4’23, driven by
increased turnkey LED retrofit activity, including a U.S.
Department of Defense project in Europe.
- EV charging solutions revenue rose to
approximately $4.9M in Q4’24 vs. $3.4M in Q4’23, reflecting an
expanding base of project activity supported by growth in the EV
team and its geographic scope.
- Maintenance services revenue rose to
approximately $5.2M in Q4’24 compared to $3.7M in Q4’23,
principally reflecting a new three-year agreement to provide
preventative lighting maintenance services for a customer’s
approximately 2,000 retail locations.
- Orion expects to report slightly
positive adjusted EBITDA in Q4’24 compared to negative adjusted
EBITDA in Q4’23.
Singular Research Presentation
Access |
Date/Time: |
Wednesday, May
22nd at 3:00pm ET / 12:00pm PT |
URL: |
https://register.gotowebinar.com/register/7935223134977229402 |
|
|
About Singular ResearchSingular
Research is a trusted provider of independent research on micro and
small cap companies. Since inception in 2004, Singular Research has
been dedicated to providing unbiased, performance-based research
that instills trust and comfort in clients. Singular Research is
unique in its approach, specializing in small to micro-cap
companies, particularly those that are emerging, undervalued, and
under-covered. This niche focus allows Singular Research to provide
exciting opportunities to boost return on investment and alpha for
its clients.
About Orion Energy SystemsOrion
provides energy efficiency and clean tech solutions, including LED
lighting and controls, maintenance services and electrical vehicle
(EV) charging solutions. Orion specializes in turnkey
design-through-installation solutions for large national customers
as well as projects through ESCO and distribution partners, with a
commitment to helping customers achieve their business and
environmental goals with healthy, safe and sustainable solutions
that reduce their carbon footprint and enhance business
performance.
Orion is committed to operating responsibly throughout all areas
of our organization. Learn more about our Sustainability and
Governance priorities, goals and progress here or visit our website
at www.orionlighting.com.
Safe Harbor Statement Certain
matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements may generally be identified
as such because the context of such statements will include words
such as "anticipate," "believe," "could," "estimate," "expect,"
"intend," "may," "plan," "potential," "predict," "project,"
"should," "will," "would" or words of similar import. Similarly,
statements that describe our future outlook, plans, expectations,
objectives or goals are also forward-looking statements. Such
forward-looking statements are subject to certain risks and
uncertainties that could cause results to differ materially from
those expected, including, but not limited to, the following: (i)
our ability to realize the anticipated benefits of the Voltrek
acquisition; (ii) we may encounter substantial difficulties, costs
and delays involved in integrating our operations with Voltrek’s
business; (iii) disruption of management’s attention from ongoing
business operations due to the Voltrek acquisition; (iv) our
ability to manage general economic, business and geopolitical
conditions, including the impacts of natural disasters, pandemics
and outbreaks of contagious diseases and other adverse public
health developments, such as the COVID-19 pandemic; (v) the
deterioration of market conditions, including our dependence on
customers' capital budgets for sales of products and services, and
adverse impacts on costs and the demand for our products as a
result of factors such as the COVID-19 pandemic and the
implementation of tariffs; (vi) our ability to adapt and respond to
supply chain challenges, especially related to shipping and
logistics issues, component availability, rising input costs, and a
tight labor market; (vii) our ability to recruit, hire and retain
talented individuals in all disciplines of our company; (viii) our
ability to successfully launch, manage and maintain our refocused
business strategy to successfully bring to market new and
innovative product and service offerings; (ix) potential asset
impairment charges and/or increases on our deferred tax asset
reserve; (x) our dependence on a limited number of key customers,
and the potential consequences of the loss of one or more key
customers or suppliers, including key contacts at such customers;
(xi) our ability to identify and successfully complete transactions
with suitable acquisition candidates in the future as part of our
growth strategy; (xii) the availability of additional debt
financing and/or equity capital to pursue our evolving strategy and
sustain our growth initiatives; (xiii) our risk of potential loss
related to single or focused exposure within the current customer
base and product offerings; (xiv) our ability to achieve and
sustain profitability and positive cash flows; (xv) our ability to
differentiate our products in a highly competitive and converging
market, expand our customer base and gain market share; (xvi) our
ability to manage and mitigate downward pressure on the average
selling prices of our products as a result of competitive pressures
in the LED market; (xvii) our ability to manage our inventory and
avoid inventory obsolescence in a rapidly evolving LED market;
(xviii) our increasing reliance on third parties for the
manufacture and development of products, product components, as
well as the provision of certain services; (xix) our increasing
emphasis on selling more of our products through third party
distributors and sales agents, including our ability to attract and
retain effective third party distributors and sales agents to
execute our sales model; (xx) our ability to develop and
participate in new product and technology offerings or applications
in a cost effective and timely manner; (xxi) our ability to
maintain safe and secure information technology systems; (xxii) our
failure to comply with the covenants in our credit agreement;
(xxiii) our ability to balance customer demand and production
capacity; (xxiv) our ability to maintain an effective system of
internal control over financial reporting; (xxv) price fluctuations
(including as a result of tariffs), shortages or interruptions of
component supplies and raw materials used to manufacture our
products; (xxvi) our ability to defend our patent portfolio and
license technology from third parties; (xxvii) a reduction in the
price of electricity; (xxviii) the reduction or elimination of
investments in, or incentives to adopt, LED lighting or the
elimination of, or changes in, policies, incentives or rebates in
certain states or countries that encourage the use of LEDs over
some traditional lighting technologies; (xxix) the cost to comply
with, and the effects of, any current and future industry and
government regulations, laws and policies; (xxx) potential warranty
claims in excess of our reserve estimates; and (xxxi) the other
risks described in our filings with the Securities and Exchange
Commission. Shareholders, potential investors and other readers are
urged to consider these factors carefully in evaluating the
forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are made only as of the date of this press
release and we undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. More detailed information about factors
that may affect our performance may be found in our filings with
the Securities and Exchange Commission, which are available at
http://www.sec.gov or at http://investor.oriones.com in the
Investor Relations section of our Website.
Engage with
UsTwitter: @OrionLighting and
@OrionLightingIRStockTwits: @OESX_IR
Investor Relations Contacts |
|
Per Brodin, CFO |
William Jones; David Collins |
Orion Energy Systems, Inc. |
Catalyst IR |
pbrodin@oesx.com |
(212) 924-9800 or OESX@catalyst-ir.com |
Orion Energy Systems (NASDAQ:OESX)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Orion Energy Systems (NASDAQ:OESX)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024