Orion Reports Lower Sales, Higher Operating Income. Will Focus on LED instead of Solar; Sells Company Jet

The Plymouth site is now for sale and given the synergies from bringing these two locations together, we expect annualized cost savings in the neighborhood of $100,000 going forward, worth about half a cent per share pretax.

And in addition, I am pleased to announce that we recently entered into an agreement subject to inspections to sell our corporate jet. In doing so, we can pay up our lease and save approximately $1.5 million of expenses on an annualized bases going forward or about $0.7 per share pretax.

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