Energy Focus (EFOI) Reports Flat Sequential Rev Growth, Expects Cash Flow Positive For 2010

Energy Focus (EFOI) has released results after the bell today, but I don’t see an EPS number in the press release.  They are posting a revenue number of $9 million for the quarter.  Yes that’s triple what they posted a year ago, but you can’t compare to the year ago quarter yet because of the Stone Ridge acquisition.  Comparing to the previous two quarters with Stone Ridge revenue, it’s about inline ($8.4 million in the first, $9 million in the 2nd).  The company is forecasting $8.4 million in revenue for next quarter, so basically stagnant growth.  The company does anticipate being cash flow positive from operations in 2010.

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“We continue to be delighted with the performance of our solutions, US products and military businesses,” said Joe Kaveski, CEO of Energy Focus, Inc. “During the third quarter, Rob Wilson, Steve Gasperson and their teams helped sustain our first and second quarter’s sales momentum by securing an additional $2.8 million in lighting solutions contracts and delivering over $9.0 million in total sales. Furthermore, Roger Buelow and his government team secured an additional $1.4 million in new military contracts during the quarter. The government team has now secured a total of $3.0 million in new contracts for the year.”

If I can track down an EPS number, I’ll update the post.  The stock is moving up about 10% in after hours trading, but still trying to find a bottom to this new base. 

UPDATE: The EPS came in in at -.07, so a slight improvement over last quarter when the company reported $9 million in revenue and a loss of .08. 

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