This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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

Fiscal 2012 Results

Net sales in fiscal 2012 were $268,402,000, a decrease of 8.6% as compared to net sales in fiscal 2011 of $293,501,000. Lighting Segment net sales increased 1.0% to $199,610,000 with sales to national accounts and niche markets increasing 6.2%, sales to the Commercial / Industrial lighting market decreasing 4.9%, sales related to LED video screens of $1,879,000 increasing 74%, and lighting sales to the international markets increasing 1.8%. In the other reportable business segments, Graphics Segment net sales decreased 37.2% to $42,131,000, Electronic Components Segment net sales decreased 13.7% to $18,515,000 and net sales of the All Other Category increased 10.9% to $8,146,000. A 7-Eleven program to install LED lighting and signage throughout its retail store system accounted for $40.0 million of net sales in fiscal 2011. This program was completed in the second quarter of fiscal 2011. Net sales to 7-Eleven in fiscal 2012 were significantly less than the prior year, down by $23.8 million in the Graphics Segment and down by $9.7 million in the Lighting Segment. Fiscal 2012 net income of $3,224,000, or $0.13 per share, compares to fiscal 2011 net income of $10,828,000 or $0.44 per share. In the third quarter of fiscal 2012, the Company acquired a lighting controls company, LSI Virticus, which reported a fiscal 2012 operating loss of $777,000 on net sales of $71,000. In fiscal 2012, the Company recorded a pre-tax non-cash goodwill impairment expense of $258,000, as well as pre-tax expense of $610,000 related to acquisition deal costs and related expenses as well as fair value inventory adjustments, but had no corresponding expenses in fiscal 2011. Earnings per share represents diluted earnings per share.

Balance Sheet

The balance sheet at June 30, 2012 included current assets of $106.6 million, current liabilities of $22.9 million and working capital of $83.7 million, which includes cash of $15.3 million. The current ratio was 4.7 to 1. The Company has shareholders' equity of $149.4 million, no long-term debt, and has borrowing capacity on its commercial bank facilities as of June 30, 2012 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.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs