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LSI Industries Inc. Reports Operating Results For The Fourth Quarter And Year Ended June 30, 2012, And Declares Regular Quarterly Cash Dividend

CINCINNATI, Aug. 16, 2012 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS) today:
  • reported fourth quarter net sales of $71,196,000, a decrease of 4% as compared to $74,217,000 in the same period of the prior fiscal year;
  • reported fourth quarter net income of $1,505,000 or $0.06 per share as compared to $1,497,000 or $0.06 per share for the same period of the prior fiscal year;
  • reported fiscal 2012 net sales of $268,402,000, a decrease of 9% as compared to $293,501,000 in fiscal 2011;
  • reported fiscal 2012 net income of $3,224,000 or $0.13 per share as compared to $10,828,000 or $0.44 per share in fiscal 2011; and
  • declared a regular quarterly cash dividend of $0.06 per share payable September 4, 2012 to shareholders of record August 28, 2012.
Financial Highlights            
(In thousands, except per  Three Months Ended  Year Ended
share data; unaudited)    June 30  June 30
  2012 2011  % Change  2012 2011 % Change
Net Sales $71,196 $74,217 (4)% $268,402 $293,501 (9)%
Operating Income $2,840 $2,550 11% $6,331 $16,304 (61)%
Net Income $1,505 $1,497 1% $3,224 $10,828 (70)%
Earnings Per             
Share (diluted) $0.06 $0.06 -- $0.13 $0.44 (70)%
  6/30/2012 6/30/2011
Working Capital $83,702 $84,524
Total Assets $175,226 $176,021
Long-Term Debt $ -- $1,064
Shareholders' Equity $149,368 $151,218

Fourth Quarter Fiscal 2012 Results

Net sales in the fourth quarter of fiscal 2012 were $71,196,000, a decrease of 4% as compared to last year's fourth quarter net sales of $74,217,000. Lighting Segment net sales decreased 8.6% to $50,199,000 with sales to national accounts and niche markets increasing 0.6%, sales to the Commercial / Industrial lighting market decreasing 13.4%, sales related to LED video screens of $306,000 increasing significantly, and lighting sales to the international markets decreasing 36.4%. In the other reportable business segments, Graphics Segment net sales increased 18.0% to $12,612,000, Electronic Components Segment net sales decreased 2.0% to $5,287,000 and net sales of the All Other Category decreased 3.2% to $3,098,000. Fiscal 2012 fourth quarter net income of $1,505,000, or $0.06 per share, compares to fiscal 2011 fourth quarter net income of $1,497,000 or $0.06 per share. Earnings per share represents diluted earnings per share.

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