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Orion Energy Systems, Inc Message Board

  • fisk007 fisk007 Feb 11, 2013 10:10 AM Flag

    Trading at a 25% Discount to BOOK VALUE?

    The balance sheet looks VERY CLEAN with little to no "intangible assets and goodwill".

    Book Value $75 Million?

    Trading at $56 Million?

    Talk about an acquisition candidate!

    Should trade up $1 per share to $4....which is Book Value...at a minimum.

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    • A 500,000 share day around the corner?

    • Orion's new CEO vows 'awesome returns'

      Shareholders hope John Scribante, new CEO at Orion Energy Systems, Manitowoc, can improve the company's fiscal outlook after several quarters of decreased revenue.

      “I look forward to the challenge of improving both our near-term and long-term bottom-line financial results, while continuing to focus on increasing our revenues and meeting our goal of recognizing $250 million in annual revenue by 2017."

      From Bizjournals Milwaukee

      Currently a $95 Million +/- Annual Revenue Run Rate.

      Wants to grow them an an AVERAGE of 30% YOY for the next 4 years to $250 Million?

      Assume 8% to 10% operating margins - that would be $20 to $25 Million in earnings in 2017.

      Looks like he may be looking at the following projection?

      2013 $105 Million / Earnings $.04 per share
      2014 $130 Million / Earnings $.20 per share
      2015 $155 Million / Earnings $.40 per share
      2016 $190 Million / Earnings $.75 per share
      2017 $245 Million / Earnings $1.12 per share

      Put a 20 P/E on the 2014 earnings of $.20 = $4 per share.

      ....with a current BOOK VALUE of $76 Million....that is a book value of $3.80.

      But it is currently trading at $2.98....Hmmm....

      Would need to trade up 30% +/- just to be trading at BOOK.

 
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