Orion's Warning of Lower Sales Drives Shares Down Earnings Up, but Fears of Recession Hurt Forecast

Summary

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Companies are closing factories and delaying orders for energy- efficient lighting, prompting Orion Energy Systems Inc. to warn that the recession will hurt sales and profit over the next six months.

The Plymouth-based lighting manufacturer posted fiscal second- quarter earnings Tuesday that were higher than expected, but its warning about the second half of its fiscal year disappointed investors.

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Extract

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Orion's Warning of Lower Sales Drives Shares Down Earnings Up, but Fears of Recession Hurt Forecast

The warning, issued 30 minutes before the stock market closed, prompted a late-session sell-off of Orion shares. Orion's stock price closed d...

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