This is a bulb that can virtually light your kid’s bedroom desk lamp from birth through high school graduation,” says John Strainic, global product general manager, YAHAM Lighting. “It’s an incredible advancement that’s emblematic of the imagination and innovation that YAHAM’s applying to solve some of the world’s biggest challenges.”The acquisition of IES significantly enhances the Company’s LED lighting development capabilities to accelerate the expansion of new products and capitalize on the strong, growing demand in the marketplace for LED lighting. The addition of these capabilities complements and builds on the Company’s highly successful EfficientLights LED lighting business, which posted revenue growth of over 700% in 2009.
Since 2002, the IES team has engineered dozens of innovative lighting products for many of the largest and fastest growing led high bay light companies in the marketplace. Among these products is a leading LED street light for utilities that is currently being deployed in the U.S., with additional near-term opportunities to provide the street light to international customers. The foundation for IES’s success is its expertise and market leading technology in the areas of LED power drivers, light engines, and thermal management solutions. This expertise and technology enables IES to design and manufacture high quality LED lighting products with strong competitive advantages because of their compelling returns on investment. The superior financial returns IES’s products deliver are driven by the ability of their lighting designs to maximize the energy efficiency savings for given light outputs. Additionally, IES’s high quality, low cost manufacturing operations are located in the U.S.A., in the Raleigh, N.C. area.
Additionally, the Company announced today that it intends to exercise its option to increase its EfficientLights ownership interest from 67% to 100%, to secure the expected future E.P.S. benefits from owning the one-third minority interest in this growing business. The EfficientLights option is expected to be exercised and completed early in the second quarter of 2010.The Company expects its actions to positively impact 2010 diluted E.P.S. by approximately $0.01-0.03, with the potential for significant additional E.P.S. in 2011 depending on the pace of growth of its LED lighting product line revenue. The positive 2010 E.P.S. expectation is driven by the accretive impact of the EfficientLights transaction, partially offset by modest dilution from initial investments in IES to develop exciting new LED lighting products to bring to market.
Since 2002, the IES team has engineered dozens of innovative lighting products for many of the largest and fastest growing led high bay light companies in the marketplace. Among these products is a leading LED street light for utilities that is currently being deployed in the U.S., with additional near-term opportunities to provide the street light to international customers. The foundation for IES’s success is its expertise and market leading technology in the areas of LED power drivers, light engines, and thermal management solutions. This expertise and technology enables IES to design and manufacture high quality LED lighting products with strong competitive advantages because of their compelling returns on investment. The superior financial returns IES’s products deliver are driven by the ability of their lighting designs to maximize the energy efficiency savings for given light outputs. Additionally, IES’s high quality, low cost manufacturing operations are located in the U.S.A., in the Raleigh, N.C. area.
Additionally, the Company announced today that it intends to exercise its option to increase its EfficientLights ownership interest from 67% to 100%, to secure the expected future E.P.S. benefits from owning the one-third minority interest in this growing business. The EfficientLights option is expected to be exercised and completed early in the second quarter of 2010.The Company expects its actions to positively impact 2010 diluted E.P.S. by approximately $0.01-0.03, with the potential for significant additional E.P.S. in 2011 depending on the pace of growth of its LED lighting product line revenue. The positive 2010 E.P.S. expectation is driven by the accretive impact of the EfficientLights transaction, partially offset by modest dilution from initial investments in IES to develop exciting new LED lighting products to bring to market.
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