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| LSG announces a distribution agreement with Philips Lighting Lighting Science Group Corporation (LSG), a leading provider of energy- efficient and environmentally responsible LED lighting solutions announced that it signed a distribution agreement with Philips Lighting Company, a division of Philips Electronics North America Corporation, an affiliate of Royal Philips Electronics, whereby Philips will market and distribute the company's patented LED lowbay lighting products for sales and distribution under Philips' brand. Concurrent with this agreement, Philips placed an initial order for lowbay lights, which are expected to be delivered in the first and second quarters of 2007. LSG realized revenue of approximately $125,000 in the third quarter 2006. LSG estimates its fourth quarter 2006 revenue to be approximately $175,000. Thus far in January 2007, the company estimates that it has recorded revenue from shipments and has currently unfilled purchase orders for an aggregate of approximately $525,000, including the initial purchase order placed by Philips. In addition to the lowbay product, LSG is the first company to market a high-output, dimmable, Edison-base white-LED light bulb. The company currently has 25 patents in the LED lighting space and a product portfolio comprised of 30 different SKUs. Lasting up to 50 times longer than incandescent light bulbs, LED bulbs typically pay for themselves in less than two years and do not contain hazardous materials such as mercury that is commonly found in fluorescent and compact fluorescent products. write your comments about the article :: © 2007 Construction News :: home page |