Vista, CA, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Flux Power Holdings, Inc. (OTCQB: FLUX), a developer of advanced lithium batteries for industrial applications such as electric forklifts and airport ground support equipment, announced today that CEO Ron Dutt will present at The Sidoti Fall 2018 Conference in New York on Thursday, September 27 at 8:00 a.m. ET. The presentation will be webcast, and Ron Dutt is available for one-on-one meetings throughout the day.
Sidoti Fall 2018 Conference Details:
Flux presentation time: Thursday, September 27 at 8:00 a.m. ET
Live Webcast / Replay URL: (Webcast) or http://www.fluxpwr.com/investors/
Location: Grand Hyatt New York (109 East 42nd Street)
WHY FLUX IS WORTH A CLOSER LOOK:
Flux is targeting an estimated $10B market opportunity to provide lithium-ion batteries to power forklift and airport ground service equipment – replacing decades-old lead-acid battery chemistry with a better performing, more energy efficient solution with a lower total cost of ownership.
After 5 years of development, customer piloting and dialogue, technical approvals and initial deployments, the market for lithium-ion solutions is here. Fortune 500 companies are discovering the many benefits that improved battery technology can bring to increasing efficiency and lowering costs in their materials handling operations.
Flux expects FY June 2019 revenue to continue recent triple digit growth rates, following an over 300% increase to $4M in FY June 2018. Its sales ramp is being driven by industry leading companies in materials-handling intensive industries. These customers have piloted Flux's solutions and experienced the improved performance, lower total cost of ownership and Flux's strong customer service - and are now rolling out the solutions across their organizations.
Flux’s sales ramp started with its entry level solution for Class 3 walkie pallet jacks and based on widespread customer requests, it is expanding its reach into more powerful and higher cost batteries for larger Class 1 and Class 2 forklifts which are expected to play a leading role in FY June 2019 and beyond.
About Sidoti (http://www.sidoti.com)
Sidoti & Company, LLC is Wall Street’s preeminent provider of equity research generally focused on companies with market capitalizations of under $3 billion. We cover over 250 companies across a range of industries. The companies covered by our traditional research typically have a history of profitability, maintain strong balance sheets, and tend to have limited, if any, coverage by other Wall Street firms.
About Flux Power Holdings, Inc. (www.fluxpwr.com)
Flux Power develops advanced lithium-ion batteries for industrial uses, including its first-ever UL 2271 Listed lithium-ion “LiFT Pack” forklift batteries. Flux solutions utilize its proprietary battery management system and in-house engineering and product design. Flux batteries deliver improved performance, extended cycle life and lower total cost of ownership than legacy lead-acid solutions. Flux sells primarily to lift equipment OEM’s, their dealers and battery distributors. Current products include advanced battery packs for motive power in the lift equipment and airport ground support markets.
This release contains projections and other "forward-looking statements" relating to Flux’s business, that are often identified by the use of "believes," "expects" or similar expressions. Forward-looking statements involve a number of estimates, assumptions, risks and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include the development and success of new products, projected sales, the Company’s ability to timely obtain UL Listing for its products, the Company’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux’s actual results of operations, financial condition and performance will not differ materially from the results of operations, financial condition and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power and associated logos are trademarks of Flux Power Holdings, Inc. All other third party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
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