LSI Industries CEO Discusses F4Q2010 Earnings - Call Transcript
We have made a lot of statements in there and they have a basis for giving you some direction at what's happened. When you look at the comparison of 2009, as compared to 2010, certainly fourth quarter there was a major turnaround.
A lot of things that are going on are obviously self developed. We've talked about those in the past, I am extremely confident on the basis of the changes that we've made. We have gone through a very strong reorganization both inside and out. We've made a number of major changes in strengthening our sales efforts specifically of the C&I part of our business plan. The direction for manufacturing, we have made major investments in both the Lighting Group as well as the Graphics Group. These new pieces of equipment are fully automated pieces of manufacturing equipment that gives us an opportunity to reduce our cost. We have a very straight forward approach in the manufacturing process and we've made a considerable improvement on reducing our overhead. We've reduced our inventories and as you can see by the strength of the balance sheet, the company is in really in a very good position as we start to move forward.
The exciting part of 2011 is obviously the continuation of 7-Eleven program, we are now really well ramped up now as we go into the second phase of this initial conversion of going from not only LED lighting, but there is a major improvement as far as their graphics utilization. We have some prototypes that we are working on and we’ll get into more detail on this in a few minutes for the interior store package as well.
The overall conditions of our markets are very, very mixed. This economy has still had a major impact on construction, so our whole objective is obviously directed to do whatever we can to go after market share, improve our place in the market.
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