Orion Energy Systems, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 07, 2024 at 09:14 pm
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Orion Energy Systems, Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported revenue was USD 25.97 million compared to USD 20.29 million a year ago. Net loss was USD 2.26 million compared to USD 24.06 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.75 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.75 a year ago.
For the nine months, revenue was USD 64.17 million compared to USD 55.75 million a year ago. Net loss was USD 13.28 million compared to USD 29.23 million a year ago. Basic loss per share from continuing operations was USD 0.41 compared to USD 0.93 a year ago. Diluted loss per share from continuing operations was USD 0.41 compared to USD 0.93 a year ago.
Orion Energy Systems, Inc. provides light emitting diode (LED) lighting systems, wireless Internet of Things (IoT) enabled control solutions, commercial and industrial electric vehicle (EV) charging infrastructure solutions and lighting and electrical maintenance services. Its lighting segment develops and sells lighting products and provides construction and engineering services for its commercial lighting and energy management systems. Its lighting segment provides engineering, design, lighting products and, in many cases, turnkey solutions for large national accounts, governments, municipalities, schools, and other customers. Its maintenance segment provides retailers, distributors and other businesses with maintenance, repair and replacement services for the lighting and related electrical components deployed in their facilities. Its EV segment offers electric vehicle charging expertise and provides EV turnkey installation solutions with ongoing support to all commercial verticals.