10-Q Filing

ORION ENERGY SYSTEMS, INC. CIK: 1409375 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-347689`
Period End Date	20120630
Filing Date	20120809
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	oesx-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 45 Cash Flow Statement 75

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$947.00K	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$937.00K	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.56M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.01M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.02M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.02M	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
Accounts receivable, net of allowances of $947 and $937	`AccountsReceivableNetCurrent`	$19.17M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.48M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.45M	shares	Point-in-time
Accounts receivable, net of allowances of $947 and $937	`AccountsReceivableNetCurrent`	$16.37M	USD	Point-in-time
Inventories, net	`InventoryNet`	$16.37M	USD	Point-in-time
Inventories, net	`InventoryNet`	$18.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.79M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.65M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	8.83M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	7.66M	shares	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$2.75M	USD	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$2.19M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.55M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.46M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.09M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$59.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$67.24M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.14M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$12.33M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$12.78M	USD	Point-in-time
Patents and licenses, net	`FiniteLivedIntangibleAssetsNet`	$1.68M	USD	Point-in-time
Patents and licenses, net	`FiniteLivedIntangibleAssetsNet`	$1.69M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.61M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.14M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$7.55M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$7.10M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$4.04M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$4.00M	USD	Point-in-time
Total assets	`Assets`	$125.65M	USD	Point-in-time
Total assets	`Assets`	$118.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.30M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.02M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.61M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.63M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.79M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.47M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$6.02M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$6.70M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$3.16M	USD	Point-in-time
Deferred revenue	`DeferredRevenueNoncurrent`	$3.05M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$401.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$406.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$30.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$32.88M	USD	Point-in-time
Commitments and contingencies (See Note F)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (See Note F)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2012 and June 30, 2012; shares issued: 30,445,479 and 30,482,026 at March 31, 2012 and June 30, 2012; shares outstanding: 22,785,258 and 21,651,308 at March 31, 2012 and June 30, 2012	`CommonStockValue`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2012 and June 30, 2012; shares issued: 30,445,479 and 30,482,026 at March 31, 2012 and June 30, 2012; shares outstanding: 22,785,258 and 21,651,308 at March 31, 2012 and June 30, 2012	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$126.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$127.22M	USD	Point-in-time
Treasury stock: 7,660,221 and 8,830,718 common shares at March 31, 2012 and June 30, 2012	`TreasuryStockValue`	$32.47M	USD	Point-in-time
Treasury stock: 7,660,221 and 8,830,718 common shares at March 31, 2012 and June 30, 2012	`TreasuryStockValue`	$34.91M	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$236.00K	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$221.00K	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-1.29M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-3.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$88.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$92.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$118.90M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$125.65M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$13.58M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$17.36M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$860.00K	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$1.73M	USD	1 Quarter
Total revenue	`Revenues`	$15.31M	USD	1 Quarter
Total revenue	`Revenues`	$18.22M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$11.59M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$9.60M	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$1.34M	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$622.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$12.21M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$10.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.01M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.37M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.77M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.95M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$697.00K	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`	$7.95M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.47M	USD	1 Quarter
Interest expense	`InterestExpense`	$87.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$161.00K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$154.00K	USD	1 Quarter
Dividend and interest income	`InvestmentIncomeInterestAndDividend`	$225.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$64.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$67.00K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.40M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.51M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.57M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$1.00M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-606.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-792.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.94M	USD	1 Quarter
Basic net loss per share attributable to common shareholders	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic net loss per share attributable to common shareholders	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Weighted-average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	22.92M	shares	1 Quarter
Weighted-average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	22.56M	shares	1 Quarter
Diluted net loss per share attributable to common shareholders	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Diluted net loss per share attributable to common shareholders	`EarningsPerShareDiluted`	$-0.03	USD	1 Quarter
Weighted-average common shares and common share equivalents outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.56M	shares	1 Quarter
Weighted-average common shares and common share equivalents outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.92M	shares	1 Quarter

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-792.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$927.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$352.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$366.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-328.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.45M	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.00K	USD	1 Quarter
Change in bad debt expense	`ProvisionForDoubtfulAccounts`	$-10.00K	USD	1 Quarter
Change in bad debt expense	`ProvisionForDoubtfulAccounts`	$55.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-13.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-34.00K	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$-3.26M	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$2.86M	USD	1 Quarter
Inventories, current and long-term	`IncreaseDecreaseInInventories`	$-1.31M	USD	1 Quarter
Inventories, current and long-term	`IncreaseDecreaseInInventories`	$2.56M	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInDeferredCharges`	$553.00K	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInDeferredCharges`	$3.31M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-347.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-24.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.07M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.50M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$221.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$121.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.65M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$134.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-304.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$983.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$978.00K	USD	1 Quarter
Purchase of property and equipment held under operating leases	`PaymentsToAcquireOtherProductiveAssets`	-	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`	$1.00K	USD	1 Quarter
Additions to patents and licenses	`PaymentsToAcquireIntangibleAssets`	$25.00K	USD	1 Quarter
Additions to patents and licenses	`PaymentsToAcquireIntangibleAssets`	$45.00K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.03M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-996.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$262.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$685.00K	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Proceeds from debt	`ProceedsFromIssuanceOfDebt`	$2.83M	USD	1 Quarter
Proceeds from repayment of shareholder notes	`ProceedsFromRelatedPartyDebt`	$2.00K	USD	1 Quarter
Proceeds from repayment of shareholder notes	`ProceedsFromRelatedPartyDebt`	$2.00K	USD	1 Quarter
Repurchase of common stock into treasury	`PaymentsForRepurchaseOfCommonStock`	$-2.46M	USD	1 Quarter
Repurchase of common stock into treasury	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-324.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$27.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$13.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$98.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$48.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.33M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.07M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$997.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.06M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	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`	$23.01M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$72.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$146.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$30.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$38.00K	USD	1 Quarter
Shares issued from treasury for shareholder note receivable	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$17.00K	USD	1 Quarter
Shares issued from treasury for shareholder note receivable	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	-	USD	1 Quarter
Shares surrendered into treasury from stock option exercise	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	-	USD	1 Quarter
Shares surrendered into treasury from stock option exercise	`OtherSignificantNoncashTransactionValueOfConsiderationReceived1`	$35.00K	USD	1 Quarter

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