Business Summary Energy Focus, Inc. . Engages in the design, development, manufacture, marketing, and installation of energy-efficient lighting systems principally for commercial/industrial lighting and pool lighting markets. Its products include metal halide and light-emitting diode (LED) fiber optic lighting systems, LED MR-16/par halogen track replacement fixtures, LED cold storage globe lamps, LED lamps and fixtures, LED dock lights, high-intensity discharge high bay fixtures, fluorescent fixtures, LED landscape fixtures, and LED parking garage lamps and fixtures. The company’s products also comprise customized components, such as underwater lenses, color-changing LED lighting fixtures, and lighted water features, including waterfalls and laminar-flow water fountains. It markets its products through direct sales employees, independent sales representatives, and various distributors to commercial, residential, retail, grocery, military, museum, and pool and spa markets worldwide. The company was formerly known as Fiberstars, Inc. and changed its name to Energy Focus, Inc. in May 2007. Energy Focus, Inc. was founded in 1985 and is based in Solon, Ohio.
It is hard to imagine a major market that will change more in the next decade than the more than $100 billion international lighting market. Many nations, including the United States, are mandating that the 100-year-old ubiquitous incandescent lamp be phased out over the next three to ten years because of its energy inefficiency. What will replace it? While the compact fluorescent lamp (CFL) is more energy efficient, it lacks both the ability to “spotlight” as well as the pleasing aesthetic attributes of incandescent lamps. Other new technologies, including metal halide discharge lamps and LEDs, are quickly emerging as viable and efficient light sources. However, a metal halide lamp often produces too much light and an LED lamp typically produces too little. Into this battle-ground Energy Focus offers an expanding range of products.Our exclusive EFO technology offers the unique combination of high efficiency, directability, pleasing color and just the right output to match those disappearing 100-year-old lamps.
The forecast for Q4 and 2010 include the following: • Sales, as previously forecast, in excess of $35 million are anticipated for 2010 with net sales from continuing operations expected to exceed $8.4 million in the fourth quarter 2010 versus $3.6 million in the fourth quarter 2009. • The company anticipates being net cash flow positive from operations in 2010. • $5.6 million, for at least a total of $27.4 million, in lighting solutions contracts secured by the end of the fourth quarter for work expected to be completed in 2010 and 2011.
AugustaFriends says: This what Really Grabs my Attention $11.00 by 2013 -- Do a few flips and have 10,000 freebies by end of 2011 and let the rest ride to $11.00
From Company Presentation -- $4.00 price per share in 2011 --
$11.00 in 2013.
Company Profile Power, versatility, and energy efficiency Our mission at Energy Focus Inc. is to enhance shareholder value through leadership in providing advanced high quality Energy Solutions that positively impact our customers’ bottom line, the environment and the communities we serve. Founded in 1985, Energy Focus is a global leader in the development, manufacture, and marketing of energy efficient lighting solutions for the commercial, retail, grocery, military, museum, and pool and spa markets.
Our products span a range of environments and applications, including down lighting, accent lighting, display lighting, outdoor and underwater lighting, decorative fixtures and specialty applications.
Our solutions are designed for easy off-the-shelf installation, and may be purchased directly from Energy Focus, or through representatives throughout the world. Additionally, all products may be customized to meet specific design requirements. Our customers Over the past 20 years, our lighting solutions have been chosen by customers throughout the world, for virtually every type of lighting application, including:
Commercial Applications: W Hotel, Huntington Bank, Trammell Crow, Florida Seawall, Clifton Bridge, Bellagio Hotel, Atlantis Hotel
Retail Applications: Lacoste, Bath & Body Works, Limited Stores, Dillards
Military Applications: DDG Amphibious Assault Ship, Fort Mead Commissary
Museum Projects: Clinton Presidential Library, Magna Carta, Appleton Museum, Iceman exhibit, Dead Sea Scrolls, Forbidden City, Beijing, China
Global reach and responsiveness Energy Focus has manufacturing operations, divisions, and distributors throughout the world, including base operations in the United States, and subsidiaries in the United Kingdom (Crescent Lighting); Germany (LBM); and California (Fiberstars Pool and Spa). Energy Focus has distributors in over 29 countries.
Headquartered in Ohio Energy Focus is proud to be strategically headquartered in Ohio—the heartland of the United States a one-day drive to more than 60% of the population in the United
Light wave of the future The trend has reached every level in the supply chain: manufacturers, retailers, architects, designers and engineers now actively promote and utilize environmentally-safe and energy-efficient lighting systems.
No wonder so many are turning to Energy Focus and our breakthrough energy efficient lighting technology.
The EFO advantage Up to 80% energy consumption savings, much lower maintenance costs, and materials that are safer and friendlier to the environment. To learn more about how EFO can provide superior lighting and unparalleled savings, check out the solutions below.
Innovation means customer solutions What do Victoria’s Secret, the Magna Carta, U.S. naval vessels, and the fresh fish display at Whole Foods have in common?
Each has been illuminated by Energy Focus lighting solutions.
Innovation at Energy Focus means energy-efficient lighting solutions that meet the precise needs of our customers solutions with cost and energy savings unmatched by other lighting companies.
Our innovation process is grounded in a collaborative methodology that emphasizes customer needs, technical feasibility and solution-oriented design.
The process begins with a thorough understanding of our customers’ needs, obtained through observing, listening, and learning everything we can about our customers’ businesses, and their technical, operational, and aesthetic requirements.
When we discovered that Whole Foods had a problem with their fresh fish display ice was constantly melting and fresh fish was being warmed by halogen lighting Energy Focus designed a fiber optic lighting solution that keeps the fish cool, doesn’t melt the ice, reduces energy expenses and maintenance costs, while providing exceptional quality of light.
When Limited Brands explained to us the high cost they incurred to dismantle store shelving and replace built-in fluorescent bulbs, we sent a team of engineers and designers to examine the problem and design a cost-effective LED retrofit solution a solution that’s easier to install, lasts for 10 years, and consumes far less energy than the old fluorescent bulbs.
As we discover these types of customer needs, we thoroughly evaluate potential technical and design solutions.
That’s where Energy Focus really shines, because technical and design excellence is part of our DNA. Energy Focus engineers invented short-arc, low-wattage metal halide sources, and were first to combine these sources with fiber for commercial lighting. Energy Focus also invented non-imaging optics that harvest over 95% of this light and efficiently drive it into fiber. And we invented a new generation of optical splitters that allows multiple, large-diameter fibers to be efficiently coupled to a light source.
Company Updates Energy Focus, Inc. Lights Up U.S. Navy Ships and Submarines SOLON, Ohio, March 8, 2011 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (Nasdaq:EFOI - News), a leader in providing energy efficient lighting solutions, today announced that it is now supplying four families of fixtures incorporating LED Solid State Lighting (SSL) to U.S. Navy ships and submarines. The products being supplied were developed under contracts from the Office of Naval Research (ONR) TechSolutions Program and the Defense Advanced Research Projects Agency (DARPA). A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8844 According to a recent ONR release (http://www.onr.navy.mil/Media-Center/Press-Releases/2011/Solid-State-SSL-Techsolutions.aspx), Energy Focus SSL fixtures are being installed aboard several ships and submarines across the U.S. Navy including the USS New Hampshire (SSN-778), USS New Mexico (SSN 779), USS Pearl Harbor (LSD 52), USS Preble (DDG 88) and USS Chafee (DDG 90). "Although the SSL is in its early stages," the release states, "the LED fixtures are showing great promise. Not only are they a quality of life improvement, but compared with fluorescent lights, LED fixtures last longer. They are more efficient, reducing maintenance requirements, energy usage and costs associated with storage, handling and disposal. Long term, SSL usage fleetwide could add up to considerable savings and improved readiness ... TechSolutions worked with Energy Focus to produce patented LED fixtures that are direct replacements for fluorescents. The replacements produce the same light output, but use half the power."
Energy Focus, Inc. to Present at Kaufman Bros. Green Technology Conference SOLON, Ohio, March 3, 2011 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (Nasdaq: EFOI - News), a leader in providing energy efficient lighting solutions, today announced that it will present at this year's 3rd annual Kaufman Bros. Green Technology conference in Boston, MA. The conference will take place Tuesday, March 8th, 2011 at the Boston Harbor Hotel in Boston, MA. Kaufman Bros. (KBRO) is managed by Wall Street professionals and entrepreneurs with decades of experience. As a global company it services clients within the Americas, Europe, China, India and Japan offering world-class research and institutional sales and trading. KBRO services entrepreneurs and institutional clients comprised primarily of multi-strategy hedge funds, mutual and pension funds, and private equity funds managing in excess of $5 trillion in assets. Experience-based knowledge nourished by generations of deep industry relationships is what sets KBRO apart from other investment banking firms
Energy Focus, Inc. Awarded $4.1 Million in additional Lighting Retrofit Contracts Solon, OH – November 16, 2010 – Energy Focus, Inc. (NASDAQ: EFOI), a leader in providing energy efficient lighting solutions, today announced that it was recently awarded four additional lighting retrofit contracts totaling $4.1 million. Included in this new $4.1 million of work is over $2 million to upgrade the lighting in a large south-eastern university and over $1 million to upgrade the lighting at a military base. The remaining contracts are to upgrade lighting at a community college.
Energy Focus, Inc. reports thirds quarter 2010 results; provides fourth quarter forecast
SOLON, Ohio, November 11, 2010—Energy Focus, Inc. (NASDAQ: EFOI) today announced financial results for the third quarter ended September 30, 2010 and forecast for fourth quarter 2010 sales and cash projections.
Financial and operating highlights for the third quarter of 2010 include the following:
• Net sales from continuing operations increased in the third quarter of 2010 to $9.0 million, compared to $3.0 million for the third quarter of 2009.
• The company finished the quarter with a balance sheet showing cash in the amount of $2.7 million and total shareholders’ equity of $8.0 million.
• Cash generation for the third quarter of 2010 was $0.6 million, compared to cash utilization of $2.3 million in the third quarter of 2009. Excluding net proceeds from financing activities, the company had cash generation of $0.5 million in the third quarter 2010 yielding a year to date net cash of $155,000 generated by operations.
• $2.8 million in lighting solutions contracts secured and $1.4 million in new military contracts.
The forecast for Q4 and 2010 include the following: • Sales, as previously forecast, in excess of $35 million are anticipated for 2010 with net sales from continuing operations expected to exceed $8.4 million in the fourth quarter 2010 versus $3.6 million in the fourth quarter 2009.
• The company anticipates being net cash flow positive from operations in 2010.
• $5.6 million, for at least a total of $27.4 million, in lighting solutions contracts secured by the end of the fourth quarter for work expected to be completed in 2010 and 2011.
“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.”
An instant replay of the conference call will be available through the investor relations section of the site
Energy Focus, Inc. Awarded $1.5 Million in additional Lighting Retrofit Contracts
Solon, OH – October 6, 2010 – Energy Focus, Inc. (NASDAQ: EFOI), a leader in providing energy efficient lighting solutions, today announced that its turnkey lighting retrofit division, Stones River Companies, LLC (“SRC”) was recently awarded two additional lighting energy services contracts totaling $1.5 million. Included in this work is more than $ 1 MM to upgrade the lighting, both interior as well as exterior, in several buildings for a large southeastern city. A second contract was received to Energy Focus, Inc. announces an additional $410,000 in Department of Defense funding.
SOLON Ohio, August 31, 2010 – Energy Focus, Inc. (NASDAQ: EFOI), a leader in providing energy efficient lighting solutions, today announced that its research and development team has recently been selected to receive funding on three projects: a Phase I Department of Defense (DoD) Small Business Innovation Research (SBIR) Grant to develop additional LED lighting fixtures based on its proprietary Intellitube™ technology; increased VHESC funding to accelerate the development of advanced coatings for the Naval Air
Energy Focus, Inc. Awarded $2.8 Million in Lighting Retrofit Contracts
Solon, OH – August 17, 2010 – Energy Focus, Inc. (NASDAQ: EFOI), a leader in providing energy efficient lighting solutions, today announced that its turnkey lighting retrofit division, Stones River Companies, LLC (“SRC”) was recently awarded seven additional lighting energy services contracts totaling $2.8 million, bringing the total contracts awarded to Energy Focus’ new business unit to $21.8 million. Included in this work is over $ 1 MM to upgrade the lighting at several locations.
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