- Energy Focus Inc (NASDAQ:EFOI) reported a second-quarter FY21 sales decline of 37.8% year-on-year, to $2.10 million, missing the analyst consensus of $3.75 million.
- Gross profit declined 70% Y/Y to $0.4 million, and the margin was 18.9%, versus 40.3% last year.
- Operating expenses increased by 16% Y/Y to $2.6 million. The operating loss widened to $(2.2) million.
- The company held $1.3 million in cash and equivalents as of June 30, 2021.
- Adjusted EBITDA loss increased to $(1.99) million. Loss per share was $(0.59).
- “Our second-quarter results were impacted by the military market that experienced funding delays and from the continued weakness in our commercial lighting retrofit market, although we have already seen a few orders so far in the third quarter that we believe represent opportunities delayed from the first half of 2021,” said Chairman and CEO James Tu.
- Energy Focus anticipates the military market to improve in the second half of the year as funding becomes available.
- Price Action: EFOI shares traded lower by 16.4% at $3.01 on the last check Thursday.
Reported Late Monday, DigitalBridge Announces Formation Of Edge Data Center Platform In Asia And Acquisition Of A Stake In AIMS Group; The Transaction, Which Is Subject To Customary Closing Conditions, Is Expected To Close In 2023
Rapidly Growing Malaysia-Based Data Center Business to Anchor Regional Strategy in Partnership with TIME dotCom
DigitalBridge Group, Inc. ("DigitalBridge") (NYSE:DBRG) today announced the acquisition of an
