0000924168-19-000036.txt : 20190515 0000924168-19-000036.hdr.sgml : 20190515 20190515161016 ACCESSION NUMBER: 0000924168-19-000036 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20190515 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20190515 DATE AS OF CHANGE: 20190515 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ENERGY FOCUS, INC/DE CENTRAL INDEX KEY: 0000924168 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640] IRS NUMBER: 943021850 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36583 FILM NUMBER: 19828169 BUSINESS ADDRESS: STREET 1: 32000 AURORA ROAD STREET 2: SUITE B CITY: SOLON STATE: OH ZIP: 44139 BUSINESS PHONE: 4407151300 MAIL ADDRESS: STREET 1: 32000 AURORA ROAD STREET 2: SUITE B CITY: SOLON STATE: OH ZIP: 44139 FORMER COMPANY: FORMER CONFORMED NAME: FIBERSTARS INC /CA/ DATE OF NAME CHANGE: 19940527 8-K 1 a20190516item202prelimer.htm 8-K Document


 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of Earliest Event Reported): May 15, 2019
 
ENERGY FOCUS, INC.
(Exact name of registrant as specified in its charter)
 
Delaware
 
001-36583
 
94-3021850
(State or Other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification Number)
 
 
 
 
 
32000 Aurora Road, Suite B
 
 
Solon, Ohio
 
44139
(Address of principal executive offices)
 
(Zip Code)
 
(440) 715-1300
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company                 ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐

 





Item 2.02. Results of Operations and Financial Condition.

On May 15, 2019, the Registrant issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated by reference.

Item 9.01
Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit
 
 
 
Number
Description
 
 
 
 
 
 
99.1
Press release dated May 16, 2019






SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 15, 2019
 
 
 
 
 
 
 
 
 
ENERGY FOCUS, INC.
 
 
 
 
 
By:
 /s/ James Tu
 
Name:
James Tu
 
Title:
Chairman, Chief Executive Officer and President and interim Chief Financial Officer






Exhibit Index

Exhibit
 
 
 
Number
Description
 
 
 
 
 
 
99.1



EX-99.1 2 ex991efoi1q19preliminaryer.htm EXHIBIT 99.1 Exhibit
logoa15.jpg

Exhibit 99.1


Energy Focus, Inc. Provides Preliminary First Quarter 2019 Financial Results

SOLON, Ohio, May 15, 2019 -- Energy Focus, Inc. (NASDAQ:EFOI), a leader in advanced LED retrofit technologies, today announced preliminary unaudited financial results for its first quarter of fiscal 2019, which ended March 31, 2019.
Preliminary Unaudited Financial Results
Net sales for the first quarter of fiscal 2019 are expected to be approximately $3.1 million to $3.2 million, compared with $3.1 million in the fourth quarter of fiscal 2018 and $4.7 million in the first quarter of 2018. Preliminary net loss is estimated to be approximately $2.6 million to $2.7 million.
“Since April 2019, we have embarked on a series of reorganizational initiatives, including reducing operating expenses, strengthening team alignment, and recalibrating our sales organization to significantly enhance customer communication and experience,” said James Tu, Chairman, Chief Executive Officer, and President of Energy Focus, Inc. “These efforts aim to refocus the company back to its mission and core competency of developing and providing enlightening and inspiring LED lighting solutions for enterprises that value product reliability, innovation, and sustainability-qualities that the company has always stood for. We are confident the changes we have already put into place, as well as the growth initiatives we are implementing currently and over the coming weeks and months will accelerate Energy Focus’ pathway to improved and sustainable financial performance.”
The Company cautions that its anticipated financial results are preliminary and based on the best information currently available and are subject to completion of customary accounting adjustments and the quarterly review procedures by the Company’s 2019 independent auditors, once they are identified and formally engaged. A conference call is expected to be in June 2019.
Forward Looking Statements

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Generally, these statements can be identified by the use of words such as “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could,” “would” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts and include statements regarding our current expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies, capital expenditures and the industry in which we operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and industry developments may differ materially from

32000 Aurora Road, Solon, OH 44139        •    www.energyfocus.com        •    800.327.7877

logoa15.jpg

statements made in or suggested by the forward-looking statements contained in this release. We believe that important factors that could cause our actual results to differ materially from forward-looking statements include, but are not limited to: (i) our history of operating losses and our ability to effectively implement cost-cutting measures and generate sufficient cash from operations or receive sufficient financing, on acceptable terms, to continue our operations; (ii) our reliance on a limited number of customers, in particular our historical sales of products for the U.S. Navy, for a significant portion of our revenue, and our ability to maintain or grow such sales levels; (iii) the entrance of new competitors in our target markets; (iv) general economic conditions in the United States and in other markets in which we sell our products; (v) our ability to implement and manage our growth plans to diversify our customer base, increase sales, and control expenses; (vi) our ability to increase demand in our targeted markets and to manage sales cycles that are difficult to predict and may span several quarters; (vii) the timing of large customer orders and significant expenses, and fluctuations between demand and capacity, as we invest in growth opportunities; (viii) our dependence on military maritime customers and on the levels of government funding available to such customers, as well as funding resources of our other customers in the public sector and commercial markets; (ix) market acceptance of LED lighting technology; (x) our ability to respond to new lighting technologies and market trends, and fulfill our warranty obligations with safe and reliable products; (xi) any delays we may encounter in making new products available or fulfilling customer specifications; (xii) our ability to compete effectively against companies with greater resources, lower cost structures, or more rapid development efforts; (xiii) our ability to protect our intellectual property rights and other confidential information, and manage infringement claims by others; (xiv) the impact of any type of legal inquiry, claim, or dispute; (xv) our reliance on a limited number of third-party suppliers, our ability to obtain critical components and finished products from such suppliers on acceptable terms, and the impact of our fluctuating demand on the stability of such suppliers; (xvi) our ability to timely and efficiently transport products from our third-party suppliers to our facility by ocean marine channels; (xvii) our ability to successfully scale our network of sales representatives, agents, and distributors to match the sales reach of larger, established competitors; (xviii) any flaws or defects in our products or in the manner in which they are used or installed; (xix) our compliance with government contracting laws and regulations, through both direct and indirect sale channels, as well as other laws, such as those relating to the environment and health and safety; (xx) risks inherent in international markets, such as economic and political uncertainty, changing regulatory and tax requirements, currency fluctuations and potential tariffs and other barriers to international trade; (xxi) our ability to attract and retain qualified personnel, and to do so in a timely manner; and (xxii) our ability to maintain effective internal controls and otherwise comply with our obligations as a public company and under Nasdaq listing standards.
About Energy Focus

Energy Focus is an industry-leading innovator of energy-efficient LED lighting technologies. As a pioneer of direct-wire LED tubes and creator of the first UL-verified low flicker LED products, Energy Focus products provide extensive energy and maintenance savings, and aesthetics, safety, health, and sustainability benefits over conventional lighting. Since 2007, the accumulated failure rate of our LED products has been well less than 0.1%, meaning over 99.9% of the millions of products we sold are still working today. Our customers include U.S. and foreign navies, U.S. federal, state and local governments, healthcare and educational institutions, as well as Fortune 500 companies.

Energy Focus is headquartered in Solon, Ohio. For more information, visit our website at www.energyfocus.com.

###


32000 Aurora Road, Solon, OH 44139        •    www.energyfocus.com        •    800.327.7877

logoa15.jpg

Investor Contacts:

Satya Chillara
Jim Fanucchi
Darrow Associates, Inc.
ir@energyfocus.com



32000 Aurora Road, Solon, OH 44139        •    www.energyfocus.com        •    800.327.7877
GRAPHIC 3 logoa15.jpg begin 644 logoa15.jpg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end