LSI Industries Inc. Announces New Multi-Year Solid-State LED Lighting Upgrade Program With Major Petroleum Company
CINCINNATI, Nov. 17, 2010 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS) today announced that it has been selected by BP Products North America to be its supplier in connection with a major new LED canopy lighting upgrade program. LSI will act as BP's "lighting expert" and will have principal responsibility for this domestic program which includes survey of sites to determine product needs and the manufacture and supply of energy efficient LED fixtures. This program has been in the planning stages for several months, and involved an earlier test program of 100 sites. Shipments of LSI products could begin during the third quarter of LSI's current fiscal year. The retrofit program is expected to involve as many as 1,600 sites per year for three years for jobber-owned locations. LSI's new Crossover® Generation 3 LED canopy fixture that was released to the market earlier this year continues to generate great interest, gain acceptance, and will be used in this canopy retrofit program.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
This document contains certain forward-looking statements that are subject to numerous assumptions, risks or uncertainties. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "seeks," "may," "will," "should" or the negative versions of those words and similar expressions, and by the context in which they are used. Such statements, whether expressed or implied, are based upon current expectations of the Company and speak only as of the date made. Actual results could differ materially from those contained in or implied by such forward-looking statements as a result of a variety of risks and uncertainties over which the Company may have no control. These risks and uncertainties include, but are not limited to, the impact of competitive products and services, product demand and market acceptance risks, potential costs associated with litigation and regulatory compliance, reliance on key customers, financial difficulties experienced by customers, the cyclical and seasonal nature of our business, the adequacy of reserves and allowances for doubtful accounts, fluctuations in operating results or costs whether as a result of uncertainties inherent in tax and accounting matters or otherwise, unexpected difficulties in integrating acquired businesses, the ability to retain key employees of acquired businesses, unfavorable economic and market conditions, and the results of asset impairment assessments. You are cautioned to not place undue reliance on these forward-looking statements. In addition to the factors described in this paragraph, the risk factors identified in our Form 10-K and other filings the Company may make with the SEC constitute risks and uncertainties that may affect the financial performance of the Company and are incorporated herein by reference. The Company does not undertake and hereby disclaims any duty to update any forward-looking statements to reflect subsequent events or circumstances.
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