Orion Lighting Expects $1.4M in Revenue from New Awards to Retrofit U.S. Government Facilities with Energy-Efficient LED Lighting Solutions

November 28, 2017 at 4:02 PM EST
Annual Energy Savings of Approximately 70% Should Enable Full Recoupment of Installation Costs in a Few Years

MANITOWOC, Wis., Nov. 28, 2017 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (NASDAQ:OESX) (Orion Lighting), a leading designer and U.S. manufacturer of high-performance, energy-efficient LED lighting products, announced today the receipt of award notifications to retrofit three U.S. Government facilities with Orion's LED lighting systems. Orion expects to record at least $1.4 million in revenue from these awards over the balance of its fiscal 2018 year ending March 31, 2018. The bulk of the revenue will be product sales, along with installation services and some engineering and professional services.

Orion is replacing legacy lighting systems at the government facilities with its energy-efficient LED lighting platforms and controls, in support of the customer's environmental and energy efficiency goals. The customer expects to reduce its annual lighting energy usage by approximately 70%, providing savings that should allow the full recoupment of all project costs in just a few years. The awards follow several projects completed for this government entity over the past few years. Orion anticipates additional retrofit opportunities from this customer in future periods.

Orion CEO, Mike Altschaefl, commented, “We are proud to serve our Country and build upon past work with this valued, long-time U.S. government customer. These awards confirm the strength of our product platform, design, features and value proposition – factors that are resonating with a growing base of new and existing customers.

“Importantly, they also confirm our customer’s confidence in Orion, our commitment to customer satisfaction, and the strong working relationship we have built over several years. Our activity in the government sector continues to be strong, and we are eager to bid on future projects for this customer.”

About Orion Energy Systems
Orion is a leading designer and producer of energy efficient lighting and retrofit lighting solutions for commercial and industrial buildings. 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.

Twitter:            @OrionLighting and @OrionLightingIR
StockTwits:      @Orion_LED_IR

Investor Relations Contacts:
Bill Hull, CFO
Orion Energy Systems, Inc.
(312) 660-3575 or ir@oesx.com

William Jones; Tanya Kamatu
Catalyst IR
(212) 924-9800 or oesx@catalyst-ir.com

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Source: Orion Energy Systems, Inc.