Orion Energy Systems, Inc. (OESX) Misses Q2 EPS by 1c, Reaffirms Guidance, Announces $1M Buyback Plan

Orion Energy Systems, Inc. (NYSE: OESX) reported Q2 EPS of $0.00, $0.01 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $19.3 million versus the consensus estimate of $23.43 million.

The Company continues to expect revenue to be between $112 million and $118 million and its fiscal 2012 earnings per share to be between $0.18 and $0.22 per diluted share.

Orion Energy Systems announced today that its Board of Directors has approved a share repurchase program, authorizing the Company to repurchase in the aggregate up to $1,000,000 of its outstanding common stock. Purchases by the Company under this program may be made from time to time in open market purchases, privately negotiated transactions, accelerated stock repurchase programs or otherwise, as determined by the Company's management.

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