Orion Energy Systems Announces Extension of Agreement with Large Small-Box
Retailer To Provide Lighting Solutions For New Stores
MANITOWOC, Wis. -- June 17, 2014
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
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.
Investor Relations Contacts:
Orion Energy Systems
Chief Financial Officer
The Equity Group Inc.
Senior Vice President
The Equity Group Inc.
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