Orion Energy Reports Earning $16.3 Million in Third Quarter

Orion Energy Systems has reported their earnings for the third quarter. Their revenue jumped up 23% from 13.2 million in the previous quarter to $16.3 million, with their gross margin improving to 25.6%. Orion claimed their expenses fell over the past year from $6.5 million to $4.8 million this past quarter. Orion’s CEO Mike Altschaefl contributed his company’s success to “expected strength from large national account customers, a favorable trend we expect will continue in the fourth quarter and into fiscal 2020.” Orion is a provider of enterprise-grade LED lighting and energy project solutions.