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Article: Orion Energy loses more than expected With sales soft, new official looks at costs
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- August 5, 2009
- Author:
CopyrightCopyright 2009 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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By THOMAS CONTENT
Orion Energy Systems Inc. on Tuesday reported a bigger-than-
expected loss of $2.77 million in its fiscal first quarter and
warned that earnings this quarter will be below analysts'
projections.
The Manitowoc maker of energy-efficient lighting systems said its
sales were $12.6 million in the quarter, down nearly 22% from $16.1
million last year but in line with the company's own forecast.
The loss per share was 13 cents, compared with analysts'
projections of 9 cents. The company reported break-even results per
share in last year's first quarter.
The company said its loss per share exceeded its forecast but
attributed that to non-operating factors linked to tax accounting.