LSI Industries Inc. Reports Operating Results For The First Quarter Ended September 30, 2010, And Declares Regular Quarterly Cash Dividend
About the Company
LSI Industries Inc. is an Image Solutions company, dedicated to advancing solid-state LED technology in lighting and graphics applications. We combine integrated technology, design, and manufacturing to supply high quality, environmentally friendly lighting fixtures and graphics elements for commercial, retail and specialty niche market applications. LSI is a U.S. manufacturer with marketing / sales efforts throughout the world with concentration currently on North American, Latin American, Australian, New Zealand, Asian, European and Middle Eastern markets.
Building upon its success with its Crossover ® LED lighting fixtures and SmartVision ® solid-state LED video boards, LSI is committed to producing affordable, high performance, energy efficient lighting and graphic products for indoor and outdoor use. We have a vast offering of innovative solutions for virtually any lighting or graphics application. Further, we can provide design support, engineering, installation and project management for custom graphics rollout programs for today's retail environment.
LSI's major markets are the commercial / industrial lighting, petroleum / convenience store, multi-site retail (including automobile dealerships, restaurants and national retail accounts), sports and entertainment markets. LSI employs approximately 1,500 people in facilities located in Ohio, New York, North Carolina, Kansas, Kentucky, Rhode Island, Texas and Montreal, Canada. The Company's common shares are traded on the NASDAQ Global Select Market under the symbol LYTS.The LSI Industries Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3646 For further information, contact either Bob Ready, Chief Executive Officer and President, or Ron Stowell, Vice President, Chief Financial Officer, and Treasurer at (513) 793-3200. Additional note: Today's news release, along with past releases from LSI Industries, is available on the Company's internet site at www.lsi-industries.com or by email or fax, by calling the Investor Relations Department at (513) 793-3200. More information on LSI's quarterly earnings, including additional financial analysis and an earnings overview presentation, will also be available at this site after the Investor Call to be held at 3:00 p.m. Eastern Time today.
|Condensed Statements of Operations|
|Three Months Ended|
|(in thousands, except per||September 30|
|share data; unaudited)||2010||2009|
|Cost of products & services sold||59,229||51,079|
|Selling and administrative expenses||14,000||14,100|
|Interest expense, net||22||34|
|Income before income taxes||6,600||2,463|
|Income tax expense||2,332||826|
|Income per common share|
|Weighted average common shares outstanding|
|Condensed Balance Sheets|
|(in thousands, unaudited)||September 30,||June 30,|
|Property, Plant and Equipment, net||45,092||44,911|
|Other Long-Term Liabilities||2,643||2,685|
CONTACT: LSI Industries Inc. Bob Ready Ron Stowell (513) 793-3200
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