Company profile

Ticker
OESX
Exchange
CEO
Michael W. Altschaefl
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
391847269

OESX stock data

(
)

Calendar

5 Jun 20
13 Jul 20
31 Mar 21

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 25.89M 34.25M 48.32M 42.38M
Net income -531K 2.3M 6.72M 3.97M
Diluted EPS -0.02 0.07 0.22 0.13
Net profit margin -2.05% 6.73% 13.91% 9.36%
Operating income -365K 2.44M 6.88M 4.16M
Net change in cash 14.99M 2.66M 868K 1.5M
Cash on hand 28.75M 13.76M 11.1M 10.23M
Cost of revenue 20.12M 25.98M 35.53M 32.1M
Annual (USD) Mar 20 Mar 19 Mar 18 Mar 17
Revenue 150.84M 65.75M 60.3M 70.21M
Net income 12.46M -6.67M -13.13M -12.29M
Diluted EPS 0.4 -0.23 -0.46 -0.44
Net profit margin 8.26% -10.15% -21.77% -17.50%
Operating income 13.11M -6.16M -12.98M -12.53M
Net change in cash 20.02M -695K -7.88M 1.77M
Cash on hand 28.75M 8.73M 9.42M 17.31M
Cost of revenue 113.72M 51.2M 45.63M 52.87M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
9 Jun 20 Altschaefl Michael W Common Stock Grant Aquire A No 0 92,155 0 726,978
9 Jun 20 Hull William T Common Stock Grant Aquire A No 0 75,892 0 1,031,252
9 Jun 20 Howe Alan B Common Stock Grant Aquire A No 0 11,479 0 20,512
9 Jun 20 Green Scott A. Common Stock Grant Aquire A No 0 45,535 0 396,584
9 Jun 20 Richstone Ellen B Common Stock Grant Aquire A No 0 11,479 0 103,610
48.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 67 57 +17.5%
Opened positions 17 11 +54.5%
Closed positions 7 9 -22.2%
Increased positions 19 15 +26.7%
Reduced positions 19 16 +18.8%
13F shares
Current Prev Q Change
Total value 53.88M 47.13M +14.3%
Total shares 14.52M 12.88M +12.7%
Total puts 13.9K 31.7K -56.2%
Total calls 44.6K 66K -32.4%
Total put/call ratio 0.3 0.5 -35.1%
Largest owners
Shares Value Change
North Star Investment Management 3.62M $13.4M -10.5%
Renaissance Technologies 2.36M $8.74M +2.0%
Vanguard 1.48M $5.49M +0.9%
Acadian Asset Management 754.83K $2.79M +135.8%
EAM Investors 754.06K $2.79M +180.0%
Heartland Advisors 750K $2.78M 0.0%
EAM Global Investors 553.75K $2.05M NEW
Parametric Portfolio Associates 385.85K $1.43M +1431.5%
Penbrook Management 342.26K $1.27M +1.7%
Bridgeway Capital Management 298.3K $1.1M -24.7%
Largest transactions
Shares Bought/sold Change
EAM Global Investors 553.75K +553.75K NEW
EAM Investors 754.06K +484.74K +180.0%
Acadian Asset Management 754.83K +434.66K +135.8%
North Star Investment Management 3.62M -424.75K -10.5%
Parametric Portfolio Associates 385.85K +360.66K +1431.5%
Millennium Management 225.47K +209.07K +1275.2%
Susquehanna International 203.95K +203.95K NEW
Ariel Investments 244.48K -191.97K -44.0%
Alambic Investment Management 88.19K -161.98K -64.7%
Worth Venture Partners 0 -123.93K EXIT

Financial report summary

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Risks
  • Our business is currently, and could be in the future, negatively impacted by the recent Coronavirus (“COVID-19”) outbreak.
  • Adverse conditions in the global economy have negatively impacted, and could in the future negatively impact, our customers, suppliers and business.
  • As we evolve our business strategy to increase our focus on new product and service offerings, including our IoT, “smart-building”, “connected ceilings” and other related technology, software and controls products and services, the nature of our business may be significantly changed, or transformed, and our results of operations, financial condition and cash flows may be materially adversely affected.
  • We do not have major sources of recurring revenue and we depend upon a limited number of customers in any given period to generate a substantial portion of our revenue. The loss of any significant customers or a major customer could have a materially adverse effect on our results of operations, financial condition and cash flows.
  • We may not be able to obtain equity capital or debt financing necessary to effectively pursue our evolving strategy and sustain our growth initiatives.
  • Until fiscal 2020, we had a history of losses and negative cash flow and we may be unable to sustain our recent profitability or positive cash flows in the future, particularly in fiscal 2021 as a result of the COVID-19 pandemic.
  • The success of our business depends upon market acceptance of our energy management products and services.
  • The success of our business depends upon our adaptation to the quickly changing market conditions in the lighting industry and on market acceptance of our lighting retrofit solutions using new LED and control technologies.
  • The success of our LED lighting retrofit solutions and related controls technologies depend, in part, on our ability to claim market share away from our competitors. If we are unable to expand our customer base and increase sales in our targeted markets, our results of operations, financial condition and cash flows will likely be materially adversely affected.
  • We increasingly rely on third-party manufacturers for the manufacture and development of our products and product components.
  • We rely on third-parties to provide our controls technology products and services.
  • Our financial performance is dependent on our ability to achieve increases in our average selling prices of our products.
  • We operate in a highly competitive industry and, if we are unable to compete successfully, our results of operations, financial condition and cash flows will likely be materially adversely affected.
  • The elimination of, or changes in, policies, incentives or rebates in certain states that encourage the use of solar power over other traditional power sources could cause the revenue from our sale of solar-related tax credits to third parties to decrease, which could have a material adverse effect on our results of operations, financial condition and cash flows.
  • Changes in government budget priorities and political gridlock, and future potential government shutdown, could negatively impact our results of operations, financial condition and cash flows.
  • Our products use components and raw materials that may be subject to price fluctuations, shortages or interruptions of supply.
  • Our inability to attract and retain key employees, our reseller network members or manufacturer representative agencies could adversely affect our operations and our ability to execute on our operating plan and growth strategy.
  • If our information technology systems security measures are breached or fail, our products may be perceived as not being secure, customers may curtail or stop buying our products, we may incur significant legal and financial exposure, and our results of operations, financial condition and cash flows could be materially adversely affected.
  • Product liability claims could adversely affect our business, results of operations and financial condition.
  • Our inability to protect our intellectual property, or our involvement in damaging and disruptive intellectual property litigation, could adversely affect our results of operations, financial condition and cash flows or result in the loss of use of the related product or service.
  • We are subject to financial and operating covenants in our credit agreement and any failure to comply with such covenants, or obtain waivers in the event of non-compliance, could limit our borrowing availability under the credit agreement, resulting in our being unable to borrow under our credit agreement and materially adversely impact our liquidity.
  • Our retrofitting process frequently involves responsibility for the removal and disposal of components containing hazardous materials.
  • Our corporate office building is currently listed for sale or lease; any sale of our building will likely result in a non-cash impairment charge.
  • Our net operating loss carryforwards provide a future benefit only if we are profitable and may be subject to limitation based upon ownership changes.
  • If we fail to establish and maintain effective internal controls over financial reporting, our business and financial results could be harmed.
  • We expect our quarterly revenue and operating results to fluctuate. If we fail to meet the expectations of market analysts or investors, the market price of our common stock could decline substantially, and we could become subject to securities litigation.
  • If securities or industry analysts do not continue to publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
  • The market price of our common stock could be adversely affected by future sales of our common stock in the public market by us or our executive officers and directors.
  • We are not currently paying dividends and will likely not pay any dividends for the foreseeable future.
  • Anti-takeover provisions included in the Wisconsin Business Corporation Law, provisions in our amended and restated articles of incorporation or bylaws and the common share purchase rights that accompany shares of our common stock could delay or prevent a change of control of our company, which could adversely impact the value of our common stock and may prevent or frustrate attempts by our shareholders to replace or remove our current board of directors or management.
Management Discussion
  • During fiscal 2020, we executed on a series of master contracts for a major national account customer with our state-of-the-art LED lighting systems and wireless IoT enabled control solutions at locations nationwide. This one national account customer represented 74.1% of our total revenue in fiscal 2020 and was the primary driver for our growth over the prior year period. During March 2020, this customer suspended our installations at a significant number of locations that were scheduled for installation during our fiscal 2020 fourth quarter and our fiscal 2021 first quarter.  Although circumstances may change, further installations at this customer’s locations are currently not expected to recommence until calendar year 2021. We expect further revenue opportunity with this national account customer in fiscal 2021 and beyond; however, due to the COVID-19 pandemic, the timing, and volume of revenue, including our ability to realize these potential revenue opportunities is uncertain.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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Patents

APP
Utility
Systems and Methods for Retrofitting Light Fixtures
25 Jun 20
A retrofit assembly for retrofitting an existing light fixture having an existing housing includes a base, a first mounting member selectively repositionable relative to the base, the first mounting member including a first flange configured to selectively couple the first mounting member to the existing housing, a second mounting member selectively repositionable relative to the base, the second mounting member including a second flange configured to selectively couple the second mounting member to the existing housing, and a lighting element coupled to the base.
GRANT
Utility
Lighting fixture control systems and methods
23 Jun 20
A system for controlling lighting includes a control module coupled to a driver, a light source coupled to the driver, a first sensor configured to cooperate with the control module to detect occupancy and control the power delivered to the light source according to a signal provided by the first sensor, and a second sensor configured to cooperate with the control module to detect ambient light and control the power delivered according to a signal provided by the second sensor.
GRANT
Utility
Outdoor lighting fixtures control systems and methods
23 Jun 20
One embodiment of the invention relates to a system for operating a plurality of streetlights in response to motion from a vehicle.
GRANT
Utility
Periphery-lit troffer light fixture retrofit systems and methods
16 Jun 20
A retrofitting kit includes at least one of an adapter bracket and a retainer configured to engage at least one of an existing troffer light fixture and a T-bar of a ceiling system and a door assembly configured to be held in the ceiling system by the at least one of the adapter bracket and the retainer.
APP
Utility
Modular Lighting Assembly for Retrofitting a Light Fixture
4 Jun 20
A retrofit assembly includes a first lighting module, a second lighting module, and a hub positioned between the first lighting module and the second lighting module.