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MANITOWOC, Wis. - Orion Energy Systems, Inc. (NASDAQ:OESX), a small-cap energy solutions provider with a market capitalization of $23.7 million, announced leadership changes today with the appointment of Sally A. Washlow as Chief Executive Officer, succeeding Michael H. Jenkins. Concurrently, Scott Green has been promoted to Chief Operating Officer. According to InvestingPro data, the company’s stock has declined over 18% in the past year, trading significantly below its 52-week high of $1.53.
The company anticipates its revenue for the fiscal year ending March 31, 2025, to align with previous forecasts, aiming for the midpoint of its $77M - $83M range. However, InvestingPro analysis indicates that analysts expect sales to decline in the current year, with the company facing profitability challenges. This announcement comes as part of Orion’s strategic efforts to bolster its revenue growth and cost management to achieve consistent profitability, particularly important given its negative EBITDA of -$3.24 million in the last twelve months.
Washlow, an Orion Board member since 2022, brings over 25 years of executive experience to her new role. She has a background in driving business growth and operational efficiency, previously serving as President and later CEO of Cobra Electronics, which achieved revenues exceeding $200M under her leadership. Her career also includes significant tenures at Motorola and LG Electronics, where she honed her skills in supply chain management, sales, and marketing.
In her statement, Washlow expressed confidence in Orion’s future, citing the company’s established positions in LED lighting, EV charging stations, and electrical maintenance services. She emphasized the goal of driving revenue growth, enhancing profitability, and generating positive cash flow.
Green, with nearly three decades in the lighting industry, joined Orion through the acquisition of Harris Lighting and has been instrumental in leading the company’s sales and project management functions. His promotion to COO is expected to further strengthen Orion’s operational capabilities.
The company’s focus remains on delivering turnkey energy efficiency solutions and maintaining a commitment to sustainable business practices. Orion’s dedication to corporate responsibility is reflected in its ongoing sustainability and governance efforts, details of which are available on its website. InvestingPro analysis suggests the stock is currently undervalued, with analyst price targets ranging from $2.00 to $3.00 per share. For deeper insights into Orion’s financial health, valuation metrics, and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
This leadership transition and financial outlook are based on a press release statement from Orion Energy Systems, Inc. The company has cautioned that forward-looking statements are subject to risks and uncertainties that could affect actual results. Orion has affirmed that it will continue to update the public on any significant future developments as required by law.
In other recent news, Orion Energy Systems reported a decline in revenue for the third quarter of fiscal year 2025, dropping to $19.6 million from $26 million in the same quarter the previous year. The company’s earnings per share aligned with forecasts, showing a loss of $0.05. Despite the revenue drop, Orion improved its gross margin by 490 basis points to 29.4%, indicating better cost management. The company has also initiated a $3 million LED lighting project for a federal agency in the Southeastern United States, expected to be completed in the first half of fiscal year 2026. Furthermore, Orion was granted a 180-day extension by Nasdaq to meet the minimum bid price requirement, with plans to execute a reverse stock split if necessary. The company is actively monitoring its stock price to comply with the bid price rule. Orion’s future outlook includes anticipated double-digit revenue growth for fiscal year 2026, with a projected revenue range of $77 million to $83 million for fiscal year 2025.
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