MANITOWOC, Wis., March 08, 2019 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (OESX) (Orion Lighting), a provider of enterprise-grade LED lighting and energy project solutions, announced today that its CEO Mike Altschaefl will present and take investor questions live online in LD Micro's Second Annual Virtual Conference Tuesday, March 12th at 4:20pm ET. The presentation and Q&A will be approximately 20 minutes in total, making for an efficient introduction to the Orion investment story.
Why OESX is Worth a Closer Look?
- Turnaround under new CEO is gaining traction on top and bottom line;
- On track to achieve 5-10% revenue growth goal for year ending March 31st led by strength in national account sales; ~40% of Fortune 500 companies are Orion customers;
- Results benefitting from $6M (20%) reduction in overhead in prior fiscal year;
- Orion achieved adjusted EBITDA break-even in its recent Q3 ended 12/31/18;
- Orion offers most energy efficient LED fixtures in the industry, along with nimble engineering, strong customer service, rapid order fulfillment via US order shipment and full turnkey project capabilities;
- Sales outlook is promising given national account opportunities and other sales channels;
- $30M market cap represents approximately 0.5x TTM sales of $58.4M.
About LD Micro (www.ldmicro.com)
LD Micro is an independent information resource and investment community event platform dedicated to providing valuable tools for everyone in the small and microcap investment universe. In 2015 it launched the LD Micro Index (the LDMi), first pure microcap index, to provide a useful benchmark and flow of information to support participants in the microcap sector.
LD Micro Events: LD Micro hosts several sold-out investor conferences and management access events each year that are recognized among the strongest microcap events each year. Events include the LD Micro Invitational (June 4-5, 2019) and the LD Micro Main Event (early December) Conferences both in Los Angeles, as well as smaller, periodic Investor Summits (New York, San Francisco, etc.) and Virtual Conferences to round out microcap management access opportunities throughout the year.
About Orion Energy Systems
Orion is a provider of enterprise-grade LED lighting and energy project solutions. Orion manufactures and markets connected lighting systems encompassing LED solid-state lighting and smart controls. Orion systems incorporate patented design elements that deliver significant energy, efficiency, optical and thermal performance that drive financial, environmental and work-space benefits for a wide variety of customers, including nearly 40% of the Fortune 500.
Safe Harbor Statement:
Certain matters discussed in this press release, including under the headings “Why OESX is Worth a Closer Look?” 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 plans, 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 achieve our expected revenue growth, gross margin, and EBITDA objectives in fiscal 2019 and beyond; (ii) our ability to achieve profitability and positive cash flows; (iii) our levels of cash and our limited borrowing capacity under our revolving line of credit; (iv) the availability of additional debt financing and/or equity capital; (v) 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; (vi) our ability to develop and participate in new product and technology offerings or applications in a cost effective and timely manner; (vii) our ability to manage the ongoing decreases in the average selling prices of our products as a result of competitive pressures in the evolving LED market; (viii) our ability to manage our inventory and avoid inventory obsolescence in a rapidly evolving LED market; (ix) our lack of major sources of recurring revenue and the potential consequences of the loss of one or more key customers or suppliers, including key contacts at such customers; (x) our ability to adapt to increasing convergence in the LED market; (xi) our ability to differentiate our products in a highly competitive market; (xii) the deterioration of market conditions, including our dependence on customers' capital budgets for sales of products and services; (xiii) our ability to complete and execute our strategy in a highly competitive market and our ability to respond successfully to market competition; (xiv) our increasing reliance on third parties for the manufacture and development of products and product components; (xv) our ability to successfully implement our strategy of focusing mainly on lighting solutions using LED technologies; (xvi) the market acceptance of our products and services; (xvii) our ability to realize expected cost savings on the timetable and amounts expected from our cost reduction initiatives; (xviii) adverse developments with respect to litigation and other legal matters pursuant to which we are subject; (xix) our failure to comply with the covenants in our revolving credit agreement; (xx) our fluctuating quarterly results of operations as we focus on new LED technologies and continue to focus investing in our third party distribution sales channel; (xxi) our ability to recruit, hire and retain talented individuals in all disciplines of our company; (xxii) price fluctuations, shortages or interruptions of component supplies and raw materials used to manufacture our products; (xxiii) our ability to defend our patent portfolio; (xxiv) a reduction in the price of electricity; (xxv) the cost to comply with, and the effects of, any current and future government regulations, laws and policies; (xxvi) potential warranty claims in excess of our reserve estimates; (xxvii) our inability to timely and effectively remediate any material weaknesses in our internal control of financial reporting and/or our failure to maintain an effective system of internal control over financial reporting; and (xxviii) the other risks described in our filings with the SEC. 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.