Orion Energy Systems, Inc. (NYSE: OESX) ("Orion" or the "Company"), a leading designer and manufacturer of high-performance, energy-efficient lighting platforms, today announced that the Company has agreed to an extension with one of the United States’ largest small-box retailers to remain their supplier of lighting solutions for new stores.
Since 2008, Orion, and its subsidiary Harris Lighting, has supplied lighting systems for approximately 34 million square feet for this existing customer, amounting to approximately $20.5 million in sales. The customer, which is a nationally known small-box retailer, has more retail locations than any retailer in America.
The contract extends the current supplier agreement for two and a half years, or through 2016. Orion expects to supply lighting fixtures for approximately 20 million square feet of retail-store space during the term of the agreement: generating $10 - $13 million in revenue.
John Scribante, Chief Executive Officer of Orion, stated, “We are very pleased to continue our partnership with this fast-growing retail establishment, which we feel is a strong indication of the value proposition Orion provides its clients. We continue to work towards improving our installation times, expanding our product line to adapt to our customers, and ultimately shortening the payback time and enhancing our client’s return on investment. We believe relationships like this truly embody the Orion approach to customer partnerships and play an important role in our focus towards the LED lighting space.”About Orion Energy Systems Orion (NYSE: OESX) is leading the transformation of commercial and industrial buildings with state-of-the-art energy efficient lighting systems. Orion manufactures and markets a cutting edge portfolio of products encompassing LED Solid-State Lighting, high intensity fluorescent, and smart controls. Orion's 70+ patents held or pending provide unparalleled optical and thermal performance, which drive financial, environmental, and work-space benefits for a wide variety of retrofit markets.
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