Orion Energy Systems, Inc. (NYSE Amex: OESX), a leading power technology enterprise, announced today preliminary financial results for its fiscal 2011 third quarter ended December 31, 2010 in anticipation of President Obama’s scheduled visit to the Company’s headquarters on January 26, 2011. For the third quarter of fiscal 2011, Orion expects to report:
- A record level of GAAP revenues of approximately $29.7 million, a 54% increase compared to $19.3 million for the third quarter of fiscal 2010.
- Operating income of approximately $2.7 million for the third quarter compared to $0.6 million in the comparable prior-year period, representing the highest quarterly operating income in the Company’s history.
- GAAP net income for the fiscal 2011 third quarter of approximately $0.6 million, or $0.03 per share, which includes the impact of a 74.8% effective income tax rate. For the third quarter of fiscal 2010, GAAP net income was $0.8 million, or $0.04 per share, which included a 44.6% effective income tax benefit.
Orion Energy Systems Inc. (NYSE Amex: OESX) is a leading power technology enterprise that designs, manufactures and deploys energy management systems – consisting primarily of high-performance, energy-efficient lighting platforms, intelligent wireless control systems and direct renewable solar technology for commercial and industrial customers – without compromising their quantity and quality of light. For more information, visit www.oesx.com.