10-Q/A Filing

ORION ENERGY SYSTEMS, INC. CIK: 1409375 Q1 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001193125-12-270873`
Period End Date	20110630
Filing Date	20120614
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	oesx-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 44 Cash Flow Statement 65

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$757.00K	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$812.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.56M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.56M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.01M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.01M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Accounts receivable, net of allowances of $757 and $812	`AccountsReceivableNetCurrent`	$24.78M	USD	Point-in-time
Accounts receivable, net of allowances of $757 and $812	`AccountsReceivableNetCurrent`	$23.40M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$18.43M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Inventories, net	`InventoryNet`	$15.88M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$12.89M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$9.59M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.05M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.47M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.39M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.31M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.89M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$64.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.98M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.02M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.41M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.43M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.13M	USD	Point-in-time
Patents and licenses, net	`FiniteLivedIntangibleAssetsNet`	$1.62M	USD	Point-in-time
Patents and licenses, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$7.25M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$8.67M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$13.21M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$13.21M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.35M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.16M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.33M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.42M	USD	Point-in-time
Total assets	`Assets`	$130.85M	USD	Point-in-time
Total assets	`Assets`	$121.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.55M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$2.18M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$2.31M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$8.43M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$12.19M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.14M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$1.85M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.90M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$4.22M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$6.08M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$1.78M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$1.67M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$400.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$399.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$41.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$30.63M	USD	Point-in-time
Commitments and contingencies (See Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 shares at March 31, 2011 and June 30, 2011; no shares issued and outstanding at March 31, 2011 and June 30, 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value: Shares authorized: 30,000,000 shares at March 31, 2011 and June 30, 2011; no shares issued and outstanding at March 31, 2011 and June 30, 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2011 and June 30, 2011; shares issued: 30,312,758 and 30,393,053 at March 31, 2011 and June 30, 2011; shares outstanding: 22,893,803 and 22,983,886 at March 31, 2011 and June 30, 2011	`CommonStockValue`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2011 and June 30, 2011; shares issued: 30,312,758 and 30,393,053 at March 31, 2011 and June 30, 2011; shares outstanding: 22,893,803 and 22,983,886 at March 31, 2011 and June 30, 2011	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$124.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$124.13M	USD	Point-in-time
Treasury stock: 7,431,897 and 7,409,167 common shares at March 31, 2011 and June 30, 2011	`TreasuryStockValue`	$31.71M	USD	Point-in-time
Treasury stock: 7,431,897 and 7,409,167 common shares at March 31, 2011 and June 30, 2011	`TreasuryStockValue`	$31.67M	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$193.00K	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$226.00K	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-1.78M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-2.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$89.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$90.45M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$121.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$130.85M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$15.76M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$17.36M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$860.00K	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$1.22M	USD	1 Quarter
Total revenue	`Revenues`	$16.98M	USD	1 Quarter
Total revenue	`Revenues`	$18.22M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$10.31M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$11.59M	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$917.00K	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$622.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$11.22M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$12.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.01M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.94M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.59M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.77M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$610.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$622.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.14M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.39M	USD	1 Quarter
Interest expense	`InterestExpense`	$87.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$70.00K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$154.00K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$93.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$67.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$23.00K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.37M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.40M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-833.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-606.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-536.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-792.00K	USD	1 Quarter
Basic net loss per share attributable to common shareholders	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic net loss per share attributable to common shareholders	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Weighted-average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	22.52M	shares	1 Quarter
Weighted-average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	22.92M	shares	1 Quarter
Diluted net loss per share attributable to common shareholders	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Diluted net loss per share attributable to common shareholders	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Weighted-average common shares and share equivalents outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.92M	shares	1 Quarter
Weighted-average common shares and share equivalents outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.52M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-536.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-792.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$927.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$762.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$352.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$248.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-776.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-328.00K	USD	1 Quarter
Change in bad debt expense	`ProvisionForDoubtfulAccounts`	$-47.00K	USD	1 Quarter
Change in bad debt expense	`ProvisionForDoubtfulAccounts`	$55.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-13.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-19.00K	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$2.86M	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$-3.14M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.56M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.04M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.21M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-347.00K	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInDeferredCharges`	$3.31M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.65M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.31M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.07M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-533.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$121.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.28M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-304.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$582.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$983.00K	USD	1 Quarter
Purchase of property and equipment held under operating leases	`PaymentsToAcquireOtherProductiveAssets`	$4.00K	USD	1 Quarter
Purchase of property and equipment held under operating leases	`PaymentsToAcquireOtherProductiveAssets`	$3.00K	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$1.00K	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$7.00K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Additions to patents and licenses	`PaymentsToAcquireIntangibleAssets`	$35.00K	USD	1 Quarter
Additions to patents and licenses	`PaymentsToAcquireIntangibleAssets`	$45.00K	USD	1 Quarter
Long term investments	`PaymentsToAcquireLongtermInvestments`	$206.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-834.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$262.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$133.00K	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$2.83M	USD	1 Quarter
Proceeds from repayment of shareholders notes	`ProceedsFromRelatedPartyDebt`	$2.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-324.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$13.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$57.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$136.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$98.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-54.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.33M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.17M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$997.00K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.36M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.56M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$63.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$72.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$38.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$28.00K	USD	1 Quarter
Shares surrendered into treasury from stock option exercise	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$51.00K	USD	1 Quarter
Shares issued from treasury for stock note receivable	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$35.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.