LSI Industries CEO Discusses F1Q2011 Results - Earnings Call Transcript
Ron, if you would please.
Yes, thank you, Bob and good afternoon everybody. I will briefly cover our Safe Harbor statement that will point you to the recently filed 10-K and our previous 10-Qs that is to our forward-looking statements. And importantly today, we will not have any material non-public information that will be discussed.
Now to our net sales for the quarter and nearly $80 as our press release indicated. We’re up 18% and I’ll give you just a couple of the segments numbers of lighting was about 47,500,000. That was up 19.8%. Graphics $26.1 million, up 18.1%. Our electronic components $4.6 million, up 41%. And you’ll note that I did not talk about a technology segment and the differences of sales there.We have reclassified the technology segment into the all other category. The technology segment is really the operations of LSI Seiko and that’s really our LED R&D center. And as a result of the size that that represents of our total, we felt it appropriate to reclassify into the all other category. When it comes to looking at operating income by segment, we have made another change and that is that we are breaking out corporate administration from the all other category and onto its own line item in that segment reporting. We think that will give better clarity to the segment reporting, specifically with operating income, which I will also give some of the numbers there. Lighting operating income was $3.7 million and that was up 6.8%. Graphics $4.6 million, actually up a hundred and sixty-one percent. Electronic components was a little over a million. And let’s just say that’s a huge percent as compared to $56,000 last year. Of course, last year was influenced by some purchase accounting requirements and inventory reserves that had been booked at the time of purchase.
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