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Orion Energy Systems, Inc.
Orion Energy Systems, Inc. Announces Additional Share Repurchase Authorization
MANITOWOC, Wis., Dec. 15, 2008 (GLOBE NEWSWIRE) -- Orion Energy Systems, Inc. (Nasdaq:OESX), a leading provider of energy management systems to the commercial and industrial sectors, today announced that its Board of Directors has authorized the repurchase of up to an additional $10 million of its outstanding common stock. The action supplements the $20 million share repurchase authorization approved in July 2008 and which has been virtually fully utilized. Purchases by the Company under this program may be made from time to time in open market purchases, privately negotiated transactions, accelerated stock repurchase programs or otherwise, as determined by the Company's management. Through December 12, 2008, the Company had repurchased a total of 4,610,000 shares of common stock under its original repurchase program.