10-Q Filing

ORION ENERGY SYSTEMS, INC. CIK: 1409375 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001409375-14-000018`
Period End Date	20140630
Filing Date	20140808
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	oesx-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 46 Cash Flow Statement 64

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$264.00K	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$384.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.57M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$470.00K	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$471.00K	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
Common stock, shares issued	`CommonStockSharesIssued`	31.16M	shares	Point-in-time
Accounts receivable, net of allowances of $384 and $264 at March 31, 2014 and June 30, 2014, respectively	`AccountsReceivableNetCurrent`	$13.65M	USD	Point-in-time
Accounts receivable, net of allowances of $384 and $264 at March 31, 2014 and June 30, 2014, respectively	`AccountsReceivableNetCurrent`	$15.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	31.00M	shares	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	21.59M	shares	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	21.75M	shares	Point-in-time
Inventories, net	`InventoryNet`	$11.79M	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.86M	USD	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$130.00K	USD	Point-in-time
Deferred contract costs	`DeferredCostsCurrent`	$742.00K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.41M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	9.41M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.79M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$50.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$23.14M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.67M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$10.94M	USD	Point-in-time
Long-term inventory	`InventoryNoncurrent`	$10.61M	USD	Point-in-time
Goodwill	`Goodwill`	$4.41M	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$4.41M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.55M	USD	Point-in-time
Other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.26M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$1.97M	USD	Point-in-time
Long-term accounts receivable	`AccountsReceivableNetNoncurrent`	$1.54M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$931.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$959.00K	USD	Point-in-time
Total assets	`Assets`	$92.01M	USD	Point-in-time
Total assets	`Assets`	$98.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.94M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$4.60M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$4.01M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$614.00K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$376.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$3.45M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$3.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.52M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$3.15M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$2.60M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$1.29M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$1.32M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$270.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$272.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$21.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.68M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2014 and June 30, 2014; shares issued: 31,001,683 and 31,163,982 at March 31, 2014 and June 30, 2014; shares outstanding: 21,588,326 and 21,751,008 at March 31, 2014 and June 30, 2014	`CommonStockValue`	-	USD	Point-in-time
Common stock, no par value: Shares authorized: 200,000,000 at March 31, 2014 and June 30, 2014; shares issued: 31,001,683 and 31,163,982 at March 31, 2014 and June 30, 2014; shares outstanding: 21,588,326 and 21,751,008 at March 31, 2014 and June 30, 2014	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$131.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$130.77M	USD	Point-in-time
Treasury stock: 9,413,357 and 9,412,974 common shares at March 31, 2014 and June 30, 2014	`TreasuryStockValue`	$35.81M	USD	Point-in-time
Treasury stock: 9,413,357 and 9,412,974 common shares at March 31, 2014 and June 30, 2014	`TreasuryStockValue`	$35.81M	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$50.00K	USD	Point-in-time
Shareholder notes receivable	`ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock`	$40.00K	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-17.89M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-22.25M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$77.01M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$73.33M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$98.94M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$92.01M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$17.52M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$12.24M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$3.33M	USD	1 Quarter
Service revenue	`SalesRevenueServicesNet`	$1.07M	USD	1 Quarter
Total revenue	`Revenues`	$20.85M	USD	1 Quarter
Total revenue	`Revenues`	$13.31M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$9.86M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$12.88M	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$846.00K	USD	1 Quarter
Cost of service revenue	`CostOfServices`	$2.25M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$15.13M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$10.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.61M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.76M	USD	1 Quarter
Acquisition and integration related	`BusinessCombinationAcquisitionRelatedCosts`	-	USD	1 Quarter
Acquisition and integration related	`BusinessCombinationAcquisitionRelatedCosts`	$22.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$3.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.88M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$490.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$416.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.55M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.96M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-829.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.35M	USD	1 Quarter
Interest expense	`InterestExpense`	$90.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$113.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$94.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$174.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$61.00K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-768.00K	USD	1 Quarter
Loss before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.35M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$13.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.36M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-781.00K	USD	1 Quarter
Basic net loss per share attributable to common shareholders (in dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Basic net loss per share attributable to common shareholders (in dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Weighted-average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.17M	shares	1 Quarter
Weighted-average common shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.67M	shares	1 Quarter
Diluted net loss per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.20	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`	21.67M	shares	1 Quarter
Weighted-average common shares and share equivalents outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.17M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.36M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-781.00K	USD	1 Quarter
Depreciation	`Depreciation`	$762.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.01M	USD	1 Quarter
Amortization of long-term assets	`AdjustmentForAmortization`	$346.00K	USD	1 Quarter
Amortization of long-term assets	`AdjustmentForAmortization`	$40.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$370.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$427.00K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$5.00K	USD	1 Quarter
Loss on sale of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-21.00K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	$20.00K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	$594.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$44.00K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$80.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-29.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-33.00K	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$-1.83M	USD	1 Quarter
Accounts receivable, current and long-term	`IncreaseDecreaseInAccountsReceivable`	$4.39M	USD	1 Quarter
Inventories, current and long-term	`IncreaseDecreaseInInventories`	$-612.00K	USD	1 Quarter
Inventories, current and long-term	`IncreaseDecreaseInInventories`	$-864.00K	USD	1 Quarter
Deferred contract costs	`IncreaseDecreaseInDeferredCharges`	$-612.00K	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`	$-829.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.59M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.87M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-582.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$568.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-259.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.19M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.02M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.28M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$304.00K	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`	$48.00K	USD	1 Quarter
Additions to patents and licenses	`PaymentsToAcquireIntangibleAssets`	$19.00K	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`	$1.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$648.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-120.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$819.00K	USD	1 Quarter
Payment of long-term debt	`RepaymentsOfLongTermDebt`	$850.00K	USD	1 Quarter
Proceeds from repayment of shareholder notes	`ProceedsFromRelatedPartyDebt`	$10.00K	USD	1 Quarter
Proceeds from repayment of shareholder notes	`ProceedsFromRelatedPartyDebt`	$1.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$212.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$35.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-597.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-814.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.09M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.23M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.34M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.38M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.57M	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`	$16.34M	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`	$17.57M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$84.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$109.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$4.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$5.00K	USD	1 Quarter

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