CINCINNATI, June 1, 2010 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS) today announced that it will consolidate the Dallas-based landscape and architectural outdoor lighting operations of LSI Greenlee Lighting into its Cincinnati manufacturing facility. This consolidation action, which is expected to be completed in phases over the next six months, is being taken to centralize manufacturing operations, lower costs, and improve capacity utilization in the Company's main lighting facility. The award winning product lines of Greenlee will continue to be promoted and supported in the Company's markets. Certain engineering and sales personnel will remain in Dallas. The Company believes this consolidation will accelerate its initiative of introducing LED light sources into its landscape and architectural outdoor lighting products. Efforts will be made to sub-lease the 40,000 square foot facility in Dallas which is leased by LSI Industries through February 2012. All expenses incurred in connection with this facility consolidation will be recorded as period expenses, and discontinued operations accounting treatment will not apply.
LSI Industries Announces Consolidation Of Its Dallas, Texas Manufacturing Facility
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.