Wholesale Lighting Fixture Companies

10-K: ORION ENERGY SYSTEMS, INC.

10-K: ORION ENERGY SYSTEMS, INC.

(EDGAR Online via COMTEX) -- ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with our consolidated financial statements and related notes, included elsewhere in this Annual Report on Form 10-K. See also "Forward-Looking Statements" and Item 1A. "Risk Factors." The information below has been adjusted to reflect the impact of the restatement of our financial results which is more fully described in Note B - Restatement of Financial Statements to the consolidated financial statements contained in this Annual Report on Form 10-K and under the paragraph "Restatement of Previously Issued Consolidated Financial Statements" below and does not reflect any subsequent information or events occurring after the date of the filing of our reports originally presenting the financial information being restated or update any disclosure herein to reflect the passage of time since the date of such filings.

Restatement of Previously Issued Consolidated Financial Statements

As discussed above under Item 1, "Restatement of Previously Issued Consolidated Financial Statements" in this Annual Report on Form 10-K, we have restated our previously issued consolidated financial statements and related disclosures for the fiscal year ended March 31, 2010 and each of the quarterly consolidated financial statements for the periods ended June 30, 2009 through December 31, 2010 to account for our transactions under our Orion Throughput Agreements, or OTAs, as sales-type leases instead of as operating leases.

Our prior method of accounting for OTA transactions as operating leases deferred revenue recognition over the full term of the OTA contracts, only recognizing revenue on a monthly basis as customer payments are due, while the upfront sales, general and administrative expenses related to these OTA contracts were recognized immediately.

Generally, this change in accounting treatment has resulted in:

No impact to our cash, cash equivalents, short-term investments; or overall cash flow;

An increase in our revenue of $2.8 million (3%) and $2.7 million (4%) for our full fiscal years 2011 and 2010, respectively;

An increase in our net income of $0.4 million (34%) and earnings per share of $0.02 (40%) for our full fiscal year 2011 and a reduction in our net loss of $0.7 million (17%) and loss per share of $0.

GET THE LIGHTING AS WHOLESALE

Today many people prefer to purchase the lighting fixtures for their home as wholesale. This is because in the wholesale manner they can get the light fixtures with fewer rates. If you want to decorate your home especially for any special occasion it is better to get the light fixtures as wholesale. There are many wholesale dealers available in the market for providing you with the light fixtures. You can get the best lighting materials that are required for your home. The wholesale dealers would get you the light fixtures mostly with less chares since the shipping product would be very less. You can get all the varieties of lighting even the Quorum lighting as wholesale. These wholesale dealers are also available through online. Through online the rate of the wholesale lighting could be less than the traditional method. However you purchase the light fixtures for your home it is always better to select with the high quality one.

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