LSI Industries Inc. Reports Operating Results For The Second Quarter And First Half Ended December 31, 2010, And Declares Regular Quarterly Cash Dividend
About the Company
Leadership. Strength. Innovation. Those are the key values behind the smart vision upon which LSI Industries Inc. was founded when established in 1976. Today LSI demonstrates this in our dedication to advancing technology throughout all aspects of our business. We are a vertically integrated manufacturer who combines integrated technology, design and manufacturing to produce the most efficient, high quality products in all of our facilities across the United States.
We are committed to advancing solid-state technology to produce affordable, high performance, energy efficient lighting and custom graphic products that bring value to our customers. 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 is a U.S. manufacturer with marketing / sales efforts throughout the world with concentration currently on North America, Latin America, Australia, New Zealand, Asia, Europe and the Middle East. Our major markets include the commercial / industrial lighting, petroleum / convenience store, multi-site retail (including automobile dealerships, restaurants and national retail accounts), sports and entertainment markets. Headquartered in Cincinnati, Ohio, LSI has facilities 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||Six Months Ended|
|(in thousands, except per||December 31||December 31|
|share data; unaudited)||2010||2009||2010||2009|
|Cost of products and services sold||56,158||53,074||115,387||104,153|
|Selling and administrative expenses||13,998||13,367||27,998||27,467|
|Interest expense, net||38||32||60||66|
|Income before income taxes||4,611||2,901||11,211||5,364|
|Income tax expense||1,663||1,309||3,995||2,135|
|Income per common share|
|Weighted average common shares outstanding|
|Condensed Balance Sheets|
|(in thousands, unaudited)||December 31,||June 30,|
|Property, Plant and Equipment, net||45,099||44,911|
|Other Long-Term Liabilities||2,600||2,685|
CONTACT: Bob Ready or Ron Stowell (513) 793-3200
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