| Precision-Paragon Survey Reflects Positive Outlook For Energy Efficient Lighting Industry |
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For Immediate Release
Wednesday, June 24, 2009 Yorba Linda, CA Precision-Paragon, a leader in energy efficient lighting, has released the results of its 2009 industry survey. The survey was distributed in the 1st quarter of 2009 to over 1,300 energy efficient lighting industry professionals who were asked to share their predictions for both their individual company's performance and the industry's growth as a whole throughout 2009. Overwhelmingly, the survey results present a positive outlook. Seventy-one percent of the lighting professionals who responded expect their energy efficient relighting revenues to increase in 2009. This confidence isn't limited to personal hope for increased profits. When asked for their outlook on the industry as a whole, 60% of the respondents expect either "moderate" or "substantial" growth during this year. Raymond Pustinger, Vice President and General Manager of Precision-Paragon, isn’t surprised by these numbers. Pustinger and his company believe that, “the energy efficient relighting channel will continue to grow despite the difficult general economy.” He sees the feedback generated by the survey as, “valuable confirmation of our belief in our market.” The survey also asked lighting professionals to predict the distribution of their revenues throughout the year. The respondents overwhelmingly picked the 1st quarter of 2009 as their slowest, with the year ramping up towards an expected boom in the 4th quarter. Again, Pustinger sees this as no surprise. The responses, “predict 2009 relighting revenue patterns consistent with what we have seen during 2007 and 2008. Very low first quarter activity building to peak activity during the third and fourth quarters.” Perhaps the most telling responses come from asking survey takers about their infrastructure strategy for this year. An impressive 47% of the respondents indicated that they are, “building for growth” in 2009, while only 13% indicated that they were planning to cut back. In such a challenging economic environment, investing in growth demonstrates the true level of confidence these professionals have in the energy efficient lighting industry. In addition to the general appeal of energy-efficient lighting retrofits, respondents may have been encouraged by the current administration’s focus on economic stimulus through green job creation. Energy efficient lighting retrofits represent an effective channel for this stimulus, directly producing green jobs and energy savings without the need for costly development that’s often required by other green industries. Whatever the respondents' motivations, Precision-Paragon expects their overall predictions to be accurate. Pustinger explained, “energy efficient products and services are needed now more than ever, and to the extent that we stay focused on our business plans, our channel can continue to grow despite the current economic headwinds." ###
Contact: Precision-Paragon Lou Preston, National Sales Director, (714) 386-5550
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