This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Energy Focus Awarded A Total Of $4.9 Million In Lighting Installation Contracts Including Projects Retrofitted With LED Lighting

SOLON, Ohio, May 7, 2013 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (OTCQB:EFOI) today announced the Company, through Stones River Companies LLC, its wholly owned subsidiary, has been awarded contracts for government buildings totaling $4.9 million in the first four months of 2013. The orders represent approximately 50% growth over the same period last year, and include installations of LED lighting in public housing projects and schools.

"We are pleased to see strong growth momentum in our lighting retrofit business, as government entities at national, state and local levels have embarked on initiatives to achieve higher energy efficiency," said James Tu, Executive Chairman of Energy Focus. "We are particularly excited about the increasing appeal of LED lighting over fluorescent even in projects that have fewer hours of operation, such as schools.  LED technology, which was considered futuristic even a year ago, is rapidly gaining acceptance as an economically compelling alternative to fluorescent.  The energy savings LED technology offers coupled with the rapidly falling initial cost of LED products, has shortened the payback period to an attractive range."

"Most lighting retrofit companies continue to resist the use of LED lighting due to either a lack of in-house capabilities to test, validate and stand behind the products or the high acquisition cost of LED products.  Energy Focus, however, as a cost effective, high performance LED lighting manufacturer can and is proposing an all-LED design option for every lighting retrofit project we quote. We believe that the inflection point for LED to replace fluorescent in the lighting retrofit market has arrived in 2013. We look forward to aggressively participating in this emerging, multi-billion-dollar market opportunity with our distinctly competitive LED products made possible by our Navy-proven technologies and agile global sourcing network," added Mr. Tu.

Forward Looking Statements

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For more information about potential factors that could affect the financial results of Energy Focus, please refer to the Company's SEC reports, including its Annual Reports on Form 10-K and its quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date hereof. Energy Focus disclaims any intention or obligation to update or revise any forward-looking statements.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs