10-Q Filing

ORION ENERGY SYSTEMS, INC. CIK: 1409375 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001409375-13-000026`
Period End Date	20130630
Filing Date	20130809
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	oesx-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 44 Cash Flow Statement 69

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$900.00K	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$610.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.46M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.01M	USD	Point-in-time
Common stock, no par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	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 issued	`CommonStockSharesIssued`	30.50M	shares	Point-in-time
Accounts receivable, net of allowances of $900 and $610	`AccountsReceivableNetCurrent`	$23.70M	USD	Point-in-time
Accounts receivable, net of allowances of $900 and $610	`AccountsReceivableNetCurrent`	$18.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.54M	shares	Point-in-time
Inventories, net	`InventoryNet`	$15.38M	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	20.21M	shares	Point-in-time
Inventories, net	`InventoryNet`	$15.23M	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	20.16M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	10.34M	shares	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$3.01M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	10.34M	shares	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$2.12M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.03M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$60.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$53.61M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$27.95M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$9.89M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$11.49M	USD	Point-in-time
Patents and licenses, net	`FiniteLivedIntangibleAssetsNet`	$1.71M	USD	Point-in-time
Patents and licenses, net	`FiniteLivedIntangibleAssetsNet`	$1.70M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$5.07M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$4.08M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.27M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.26M	USD	Point-in-time
Total assets	`Assets`	$102.10M	USD	Point-in-time
Total assets	`Assets`	$105.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.77M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$5.96M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$5.46M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$4.02M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$2.95M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.45M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.77M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.08M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$3.40M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$4.11M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$1.26M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$1.37M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$188.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$250.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$24.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.11M	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, 2013 and June 30, 2013; shares issued: 30,498,900 and 30,543,863 at March 31, 2013 and June 30, 2013; shares outstanding: 20,162,397 and 20,208,351 at March 31, 2013 and June 30, 2013	`CommonStockValue`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2013 and June 30, 2013; shares issued: 30,498,900 and 30,543,863 at March 31, 2013 and June 30, 2013; shares outstanding: 20,162,397 and 20,208,351 at March 31, 2013 and June 30, 2013	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$128.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$128.10M	USD	Point-in-time
Treasury stock: 10,336,503 and 10,335,512 common shares at March 31, 2013 and June 30, 2013	`TreasuryStockValue`	$38.38M	USD	Point-in-time
Treasury stock: 10,336,503 and 10,335,512 common shares at March 31, 2013 and June 30, 2013	`TreasuryStockValue`	$38.38M	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$264.00K	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$265.00K	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-12.47M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-11.69M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$77.77M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$77.43M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$102.10M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$105.53M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$13.58M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$17.52M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$3.33M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$1.73M	USD	1 Quarter
Total revenue	`Revenues`	$15.31M	USD	1 Quarter
Total revenue	`Revenues`	$20.85M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$9.60M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$12.88M	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$2.25M	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$1.34M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$15.13M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$10.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.72M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.76M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.30M	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`	$490.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.95M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-829.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.58M	USD	1 Quarter
Interest expense	`InterestExpense`	$161.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$113.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterestAndDividend`	$174.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterestAndDividend`	$225.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$61.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$64.00K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.51M	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-768.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-1.57M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-781.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.94M	USD	1 Quarter
Basic net loss per share attributable to common shareholders (in dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic net loss per share attributable to common shareholders (in dollars per share)	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Weighted-average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.17M	shares	1 Quarter
Weighted-average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.56M	shares	1 Quarter
Diluted net loss per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Diluted net loss per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Weighted-average common shares and share equivalents outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.17M	shares	1 Quarter
Weighted-average common shares and share equivalents outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22.56M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-781.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.10M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.05M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$370.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$366.00K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-1.45M	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-21.00K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-10.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$80.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$5.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-34.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-33.00K	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$4.39M	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$-3.25M	USD	1 Quarter
Inventories, current and long-term	`IncreaseDecreaseInInventories`	$-1.46M	USD	1 Quarter
Inventories, current and long-term	`IncreaseDecreaseInInventories`	$-1.31M	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInDeferredCharges`	$553.00K	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInDeferredCharges`	$893.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-439.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-24.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.87M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.50M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$221.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$568.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.19M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$134.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.02M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$978.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$130.00K	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`	$19.00K	USD	1 Quarter
Additions to patents and licenses	`PaymentsToAcquireIntangibleAssets`	$25.00K	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$30.00K	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-996.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-120.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$850.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$685.00K	USD	1 Quarter
Proceeds from repayment of shareholder notes	`ProceedsFromRelatedPartyDebt`	$1.00K	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`	$70.00K	USD	Annual
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$27.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$48.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$35.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-814.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.07M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.06M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.09M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	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`	$15.46M	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`	$14.38M	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`	$15.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.01M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$109.00K	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`	$4.00K	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

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