Orion Energy Systems, Inc. (NASDAQ:OESX) (Orion Lighting), a provider of enterprise-grade LED lighting and energy project solutions, today announced it has received written notification from The NASDAQ Stock Market LLC that it has regained compliance with the exchange’s minimum bid price requirements. The letter noted that as a result of the closing bid price of Orion’s common stock exceeding $1.00 per share for more than ten consecutive business days, the matter is now closed.

Orion CEO, Mike Altschaefl, commented, “Regaining full compliance with Nasdaq’s continued listing requirements was an important priority for Orion that we are excited to have completed. We remain focused on achieving our revenue growth, adjusted EBITDA and gross margin goals for fiscal 2019, leveraging the value and lower cost of ownership of our energy-efficient LED lighting designs and high-quality customer service.

“The success we are realizing within our national accounts, agent driven distribution channel and Energy Service Company (ESCO) and reseller relationships positions us well to achieve these goals, supported by the $6 million reduction in annual operating expenses implemented last year and our continued focus on manufacturing and sourcing enhancements.”