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BRIEF-Orion reports qtrly loss per share of $0.26
2017年6月8日 / 晚上8点24分 / 1 个月前

BRIEF-Orion reports qtrly loss per share of $0.26

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June 8 (Reuters) - Orion Energy Systems Inc

* Energy efficient LED lighting provider orion announces FY 2017 revenue rose 4 pct to $70.2mln; plans to drive growth; implementing cost reductions to accelerate path to profitability

* Revenue growth goal of 10-15 pct for full year FY 2018

* For FY 2018 co expects to trim $3.5 million- $4.0 million of annualized costs or about 12-13 pct versus FY 2017 levels, under its cost reduction plan

* Says for FY18, co's executive team and outside directors are reducing their total annual compensation by about 35 pct

* Qtrly net loss per share $0.26

* Believes it can reach goals of 30 pct gross profit margin & breakeven on an ebitda basis, by its fiscal 2018 Q4, before non-recurring item

* Expects to record a non-recurring charge of $1.5 million-$2.0 million, principally in Q1 FY 2018, related to its cost cutting initiatives Source text for Eikon: Further company coverage:

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