Energy Focus, Inc. (NASDAQ: EFOI) is a leading provider of energy
efficient LED lighting products in the United States and abroad. The company’s
current customer base includes national, state and local government agencies,
Fortune 500 companies and a host of commercial and industrial clients. In
addition, EFOI’s long-standing relationship with the U.S. government enables it
to provide lighting products to the U.S. Navy and the Military Sealift Command
fleets.
The global market for LED lighting products has expanded rapidly in
recent years. According to a report by LEDs Magazine, increased demand is
expected to drive a compound annual growth rate of 34 percent through 2016. As
a result, the LED lighting marketing is expected to account for approximately
$94 billion by 2020, representing nearly 60 percent of the total lighting
market.
“The massive and lightning speed of LED lighting adoption… is
indicative of what we could accomplish in the verticals we focus on expanding
into such as military bases, hospitals and schools,” James Tu, executive
chairman and chief executive officer of EFOI, stated in a news release.
In recent months, the company has made major strides toward
capitalizing on this market growth. In the first quarter of 2015, EFOI recorded
net sales of $13.1 million, realizing a 167 percent year-over-year increase.
Additionally, the company’s income from operations improved by over $2 million,
as compared to the first quarter of 2014.
“The first quarter of 2015 marked yet another exciting milestone from
both operational and financial standpoints as we continued to grow at a rapid
clip and were profitable from operations for the first time since our
restructuring in the second half of 2013,” continued Tu. “Following
improvements in our financial performance throughout 2014, we have now reported
our fifth consecutive quarter of revenue growth led by strong shipments of our
military Intellitube® for the U.S. Navy and continuing acceleration of our
commercial product sales.”
On the commercial front, EFOI is in a strong position to continue
building on the early success of its commercial Intellitube product, which was
officially launched in April. This ‘one-tube-fits-all’ solution is a commercial
version of the company’s proven military product, for which EFOI recently
received an additional $6 million order from the U.S. Navy. By providing
customers with the unique flexibility to either eliminate or postpone the
upfront labor costs involved with removing existing ballasts, the commercial
Intellitube is an innovative, economical option that could accelerate the
adoption of LED tube lighting.
For prospective investors, the global shift toward LED lighting
solutions makes EFOI an intriguing opportunity to realize sustainable returns
moving forward. The company’s established presence in government and military
markets and expanding impact on the commercial lighting industry should combine
to drive continued financial growth in the months to come.
For more information, visit www.energyfocusinc.com
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