LSI Industries Inc. Reports Operating Results For The Second Quarter And First Half Ended December 31, 2010, And Declares Regular Quarterly Cash Dividend
"New product development, particularly solid-state LED lighting, is a top priority at LSI Industries. LSI has established itself as a leader in designing, engineering, and manufacturing advanced energy-efficient lighting and graphics products. Expect to see new products introduced throughout fiscal 2011 and beyond.
"On the international front, LSI has now obtained all required European product certifications. We believe Europe and the Middle East are markets that have good potential for LSI's solid-state products and we hope to report progress in securing sales later this fiscal year.
"Market conditions for our lighting and graphics capabilities are clearly improving. We expect to see increasing interest in our energy-efficient lighting products, specifically our LED products, and in our world class graphics capabilities as we seek additional sales volume.
"In conclusion, our prior actions to adjust to recessionary influences and prepare for improving economic conditions are now benefiting our operating results. We have always believed the longer term was very bright for LSI Industries, and now the near and intermediate term horizon has improved substantially. LSI's financial condition and cash flow are strong. Our current indicated annual cash dividend rate is comfortable, and, as indicated in our letter to shareholders in the fiscal 2010 Annual Report, the Board of Directors may give consideration to increasing the cash dividend rate as market conditions and operating results improve. I look forward to reporting third and fourth quarter operating results to you."Balance Sheet The balance sheet at December 31, 2010 included current assets of $103.8 million, current liabilities of $23.8 million and working capital of $80.1 million. The current ratio was 4.37 to 1. The Company has shareholders' equity of $149.7 million, $1.1 million of long-term debt, and has borrowing capacity on its commercial bank facilities as of December 31, 2010 of $35 million. With continued strong cash flow, a sound and conservatively capitalized balance sheet, and $35 million in credit facilities, LSI Industries believes its financial condition is sound and capable of supporting the Company's planned growth, including acquisitions.
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