LSI Industries Inc. Reports Operating Results For The First Quarter Ended September 30, 2010, And Declares Regular Quarterly Cash Dividend

CINCINNATI, Oct. 21, 2010 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS) today:

• reported first quarter net sales of $79,851,000, an increase of 18% as compared to the same period of the prior fiscal year;  
• reported first quarter net income of $4,268,000 or $0.18 per share, as compared to net income of $1,637,000 or $0.07 per share for the same period of the prior fiscal year; and  
• declared a regular quarterly cash dividend of $0.05 per share payable November 9, 2010 to shareholders of record November 2, 2010.

Financial Highlights
(In thousands, except per	Three Months Ended
share data; unaudited)	September 30
	2010	2009	% Change
Net Sales	$79,851	$67,676	18.0%
Operating Income	$6,622	$2,497	165.2%
Net Income	$4,268	$1,637	160.7%
Earnings Per Share (diluted)	$0.18	$0.07	157.1%

	9/30/2010	6/30/10
Working Capital	$77,402	$73,568
Total Assets	$176,182	$173,845
Long-Term Debt	$1,091	$1,099
Shareholders' Equity	$147,646	$144,218

First Quarter Fiscal 2011 Results

Net sales in the first quarter of fiscal 2011 were $79,851,000, an increase of 18.0% over last year's first quarter net sales of $67,676,000. Lighting Segment net sales increased 19.8% to $47,475,000 (sales to national accounts and niche markets increased 31.2% and sales to the Commercial / Industrial lighting market increased 10.4%), Graphics Segment net sales increased 18.1% to $26,087,000, Electronic Components Segment net sales increased 41.0% to $4,564,000 and net sales of the All Other Category decreased 36.1% to $1,725,000. The fiscal 2011 first quarter net income of $4,268,000 or $0.18 per share, compares to a fiscal 2010 first quarter net income of $1,637,000, or $0.07 per share. First quarter fiscal 2010 results included pre-tax expenses of acquisition deal costs of $513,000 and an acquisition-related fair value inventory adjustment of $526,000 related to purchase accounting requirements of LSI ADL Technology's finished goods and work-in-process inventory. Earnings per share represents diluted earnings per share.