Orion Announces Financial Results for Q2 Fiscal 2019

Orion Energy Systems reported results for the second quarter of its fiscal 2019 ended September 30, 2018.

The company posted a revenue of US$ 13.2 million for 2Q19, down14.3% YoY and 4% QoQ due to lower sales through the distribution channel and delays of certain projects. Gross margin declined to 19.3% in 2Q19, compared to 23.5% in 2Q18.

According to Orion, the business in the U.S. is progressing significantly with its automotive, retail and public sector customers. With its capability to provide tailored LED lighting solutions, the growth momentum of Orion comes from the market in the U.S.


(Image: Orion)

Mike Altschaefl, Orion CEO, said, “This suite of services is proving attractive to certain national account prospects that are looking to upgrade their locations across the U.S. These large customers appreciate our nimbleness and senior management attention in promptly addressing their needs with just one phone call, as well as our ability to develop specialized designs within a rapid time frame, and our ability to manufacture and ship product generally within 10 days."

Due to the variability in size and timing of contracts, along with difficulty in forecasting impacts from global economic events, international trade, and industry forces, Orion does not provide quarterly guidance. Meanwhile, Orion has revised its fiscal 2019 revenue growth target from the initial goal of 10% to 5-10%. However, management will continue to evaluate the performance of the business and its outlook and update its goals for the full fiscal year.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Streetlights and high-bay fixtures require high flux and efficacy to meet the ever increasing demands for system efficiency and energy cost reduction for these applications. Today, LUXEON 5050 LEDs received an upgrade in both flux and efficacy... READ MORE

The recent outbreak of COVID-19 has prompted the large-scale search for practical solutions that can prevent the spread of the deadly virus — from researchers and scientists committed to finding a solution, to the manufacturers and consu... READ MORE