Energy Focus (EFOI) reported after the bell today and posted a narrower loss of .17/share (3 cents better than expectations). Revenues surged over the year ago quarter to $8.5 million but $5.3 million of that was due to their acquisition of Stones River Companies, so take out the SRC results and you really have a company that really isn’t making any progress.
===> Click Here For Your FREE Energy Focus Analysis
The SRC acquisition … Read the rest
Stones River Companies, which Energy Focus (EFOI) recently acquired has received five new lighting contracts totaling $2.5 million. Two contracts are for the upgrade of two universities, involving the retrofit and replacement with energy efficient lighting with the other three contracts for upgrading the lighting at an elementary school, a hospital and several army facilities. The work is expected to be completed by the end of this year.
Energy Focus (EFOI) reported results after the bell today that were so so, but the guidance may give the stock a boost going forward as its recent acquisition of Stones River Companies begins contributing to the bottom line. The company reported a loss of .17/share on revenues of 3.6 million which is about inline with what they have been reporting for the past few years. This is a company that has never been profitable, but … Read the rest
Energy Focus (EFOI) has received 3 grants totaling $1.6 million this morning for its LED lighting solutions. The R&D team won two Phase 2 Small Biz Innovation Research awards from the Defense Research Projects Agency and one Phase 1 Small Biz Technology Transfer grant from NASA
EFOI CTO Roger Buelow provided more details on the awards saying, “We’re excited about the two additional awards from DARPA continuing our longstanding relationship. The STTR award is … Read the rest
The purchase of Stones River Companies by Energy Focus (EFOI) is already paying big dividends. The company announced that its new subsidiary has been awarded $12.3 million in new contracts across seven projects for efficient lighting retrofits which will reduce energy use and improve light quality. The project are already underway and expected to be completed this year.
CEO of EFOI Joseph Kaveski commented on the financial impact saying, “We are pleased to announce this … Read the rest
Energy Focus Incorporated just announced that it has acquired Stones River Companies, LLC, a lighting energy services provider located in Nashville, Tennessee. The acquisition was completed on New Year’s Eve of 2009 and was valued at approximately $5 million. Stones River Companies will become a business unit of Energy Focus Incorporated, and Stones River Companies leader Rob Wilson will continue to manage the SRC unit.
In a press release, Mr. Joseph Kaveski, CEO, Energy … Read the rest
Energy Focus, Inc, just announced that it has received an order worth $256,000 from the Army and the Airforce. Energy Focus will provide their LED lightning fixtures to the Minnesota Air National Guard. The company expects to to fulfil the order this month. … Read the rest
Energy Focus, Inc just announced that they have signed a letter of intent to purchase Stones River Companies. The purchase of the Nashville, Tennessee-based company will give them access to the $100 billion market in the public sector for energy-efficient lighting. The deal is expected to be complete within the next 90 days.
In a press release, Joseph Kaveski, Energy Focus’ CEO, explained how the purchase will benefit both companies:
“SRC’s business is based primarily … Read the rest
Energy Focus, Inc just announced that it has inked a $3.1 million, two-year contract with the DuPont-University of Delaware Very High Efficiency Solar Cell (VHESC) Consortium to develop, cheap, high-efficiency solar modules. The project is being funded by the Defense Advanced Research Projects Agency (DARPA), and uses spectrum splitting technology to increase efficiency by breaking up sunlight into different color bands and directing each color to PV cells targeted toward that specific part of the … Read the rest
Energy Focus, Inc just announced that it has been given a SBIR extension grant by DARPA to develop and produce LED lights for the US Navy. The LEDs will be designed to replace 50 and 110 Watt water tight incandescent fixtures now being used on Navy ships.
In a press release, Roger Buelow, Energy Focus CTO, commented on the grant:
“The SSL lights developed under this grant will save a significant amount of energy … Read the rest