LSI Industries CEO Discusses F1Q2011 Results - Earnings Call Transcript
And then so our total of $6.6 million, on the face of it, was up a hundred and sixty-five percent from last year. However, in our press release, I do want to point out here, to reiterate that, we made some non-GAAP financial measure. Adjustments to last year’s number related to, yes, related to the purchase accounting effects last year and so we’re – our net income is up really 88%.
Rate increase on an 18% sales increase. Quickly just over to the balance sheet. You’ll notice that we had $12.1 million of cash that is down from June but we have invested, if you will, invested in working capital. Our inventories are up a couple of million dollars and our receivables are up almost $7 million due to the size of the sales in the quarter.
They’re in good shape. Our DSOs are 47 days now and at the end of December versus 48 days at June. And we’ll point out, too, that our – something everybody is interested in. Our total LED product sales – sales related to LED products, $16.7 million this quarter and that’s about 21% of our total net sales.
Last year in the first quarter was with lower total net sales and with more sport sports sales last year than we had this year. Our LED sales were actually 27 percent of total net sales.Bob, I think those are the highlights of our point of views.Bob ReadyYes, and if I may kind of add to that Ron, we could sit and see in the LED sales as it relates primarily to our lighting products are definitely pretty consistent. And we’ll address more of that when we get into Scott’s dialogue as it relates to the lighting side of it. I’m not sure David has a couple of comments in reference to that as well.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV