Monday, August 15, 2016 10:54:26 AM
The other thing to note. When I was first interested in EFOI their revenues were almost all from the U.S. Navy.
Now it's about 50% - 50%.
It's impressive they are cracking additional accounts, and comparatively, a lot of them.
It will be worthwhile following, though news of a big "win" might come after a PPS jump.
Energy Focus downgraded at FBR Capital following weak Q2
Aug 15 2016, 10:44 ET
* Energy Focus (EFOI -2.7%) is downgraded to Market Perform from Outperform with a $5 price target, cut from $10, at FBR Capital following weak Q2 results marked by a "temporary" slowdown of LED sales to the Navy ($3.8M, down 63% Q/Q) not looking so temporary.
* FBR says Q2 revenues from the commercial and industrial segment came in at a very disappointing $3.3M, as project time frames were pushed out; despite highlighting a number of new wins in C&I and a new Naval customer, EFOI's Q3 rev guidance of $8M-$10M suggests a slow C&I adoption rate, the firm says.
* FBR believes EFOI will need to demonstrate at least two to three quarters of substantial revenue growth and regain profitability before it recaptures investor notice.
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