LED Industry News: Philips, Everlight, LSGC, Nexxus, Gartner

Nov. 17, 2010
A Philips LED lamp is on sale in The Home Depot, Everlight has unveiled its new corporate design, Lighting Science Group and Nexxus have reported their latest financial results, and Gartner has commented on the LED market.
Philips 12W EnduraLED lampHome Depot sells 60W-equivalent LED lamp for under $40

US home-improvement store The Home Depot has started selling a Philips LED bulb designed as a replacement for the 60-watt incandescent lamp, according to a CNET article. The dimmable 12-watt Ambient LED lamp is priced at $39.97 each, and is expected to be in stores in December. The warm-white lamp has a color temperature of 2700K, a color-rendering index of 80, and an average life of 25,000 hours.

Everlight's new corporate design Everlight Electronics launches new corporate design

Taiwan-based LED maker Everlight Electronics Co., Ltd. has launched a new corporate design along with a new slogan "The Source of Light" to reflect the rapid development of the lighting market as well as Everlight’s own worldwide growth.

Lighting Science Group Corp. results

In its 10-Q quarterly report for the period ending September 30, 2010, Lighting Science Group Corporation reported revenue of $15.14 million, up 96.6% compared with the same quarter last year. However, the cost of goods sold was $16.38 million, resulting in a gross margin of -8.2%. Total operating expenses, excluding stock-based compensation and other expenses, was $8.88 million. The company’s net loss was $39.76 million for the quarter, an improvement over the last quarter, which saw a net loss of $103 million.

Lighting Science Group Corp. results For the nine months to September 30, 2010, LSGC has recorded a net loss of $154.33 million versus total revenue of $30.33 million. Even so, this didn’t stop the company’s share price from rising sharply in the week beginning Nov 8 – see chart. The 10-Q report was filed on Nov 12. In other news, LSCG has hired John Bono from Acuity Brands Lighting to serve as its vice president for strategic accounts.

Nexxus reports financial results

Nexxus Lighting, an LED lighting maker based in Charlotte, NC, has reported revenue of $1.2 million for the quarter ending September 30, 2010, approximately $30,000 below comparable third-quarter 2009 revenue. The loss from continuing operations was $1.37 million. The company sold its legacy Commercial and Pool Lighting businesses on October 28, enhancing focus on the expanding Array LED replacement lamp and Lumificient LED signage businesses.

Lumificient sales grew 8% to $923,000, compared to the third quarter of 2009, while Array sales fell to $326,000, compared to $423,000 in the same quarter last year. The lull in commercial orders was attributed to anticipation of 2011 Energy-Star-qualified product-incentive programs in the US and much softer European sales in the quarter compared to 2009. Year-to-date Array sales are up 76% compared to the first nine months of 2009.

Nexxus recently received Energy Star certification for its R30, MR16 and GU10 lamps, positioning the company and its customers for participation in utility incentive programs that are now being prepared for 2011.

LED market

Our sister publication ElectroIQ has conducted an interview with market research company Gartner. According to research VP Dean Freeman, the LED market is now being driven mainly by LED-backlit LCD TVs, but an inflection point in around 2015 will see very rapid adoption of LED lighting. Around the 2014-2016 timeframe, the price of a 60W-equivalent LED lamp should drop down to the $12-$15 range, says the article.

By the end of this decade, annual production of LEDs will be around 800 billion units, an order of magnitude higher than at present. Meanwhile, the recent acceleration in demand for MOCVD machines is likely to level off somewhat in the next few years.