How far out of touch is Obama? Oh wait, he relies on an uneducated population.
Despite millions in government grants and subsidies, the Manitowoc company President Barack Obama called a glimpse of the future lost $4.2 million last year and cannot promise shareholders it will be profitable in the foreseeable future.
Even Orion Energy Systems admits there are a lot of risks and uncertainties in the green energy industry.
“Many technologies do not become commercially profitable products, applications or services despite extensive development and commercialization efforts,”the company stated in its most recent 10-K SEC filing on June 14, 2010.
The last five years have been a rollercoaster for Orion. It lost a total of $3.9 million in 2005 and 2006, made $4.3 million in the next three years, and then finally lost $4.2 million in the 2010 fiscal year.
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