the Company is in the process of evaluating the timing of recognition

We are currently reviewing the timing of revenue recognition of MOCVD systems and related upgrades. The accounting issues do not relate to product performance or customer acceptance of our products. The systems which are the subject of these transactions were delivered, accepted and paid for in full by our customers. Our review focuses on determining whether revenue was recognized in the appropriate accounting periods.Additional time is needed because the Company is in the process of evaluating the timing of recognition of revenue on the sale of certain MOCVD systems and related upgrades to these systems.The companies on the Fast 500 list are among those that have demonstrated remarkable innovation, creativity and business savvy," said Bill Ribaudo, partner,led flood light and national TMT leader for audit and enterprise risk services (AERS). "As a result, these companies have continued to successfully forge ahead in a challenging economic environment. We applaud the leadership and employees of Lighting Science for this impressive accomplishment."

Lighting Science's Chief Commercial Officer, Keith Scott, credits engineering innovation and a commitment to quality with the company's 1,214 percent revenue growth. "Our engineers push the boundaries of lighting to create truly unique products in the emerging LED lighting market. Our customers recognize the transforming innovation into reliable products.The D-Series LED Flood luminaires are used to replace 50W to 250W metal halide floodlights, and can save up to 73 percent in energy costs over a comparable 250W metal halide. The D-Series LED floodlights have an expected service life of more than 100,000 hours, or more than 20 years of nighttime use. They deliver 600 to 7,200 lumens and maintain up to 84 percent of initial lumens throughout the duration of the product life.

"The Size 1 and 2 D-Series LED flood luminaires join the more than 1,000 Acuity Brands lighting solutions that are already DLC qualified. These include the highly successful D-Series Parking Garage and Area LED luminaires”,” said Dan Armstrong, Value Stream Manager, Lithonia Lighting.DLC qualification has helped accelerate market acceptance of led high bay light as it provides assurance that the product meets stringent criteria for energy efficiency, performance and longevity. It also allows end users to participate in many local utility rebate programs to help defray the cost of their upgrades as they reduce demand on the electrical grid.The DLC Qualified Products List supports only high-quality, high-performing commercial LED products. These LED luminaires for outdoor lighting applications are now eligible for incentives and rebates from some of the largest utilities in the country that are members of DLC.