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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

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 possible. Everything we build is done right here in one of our US plants.

We are committed to advancing solid-state technology to make 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, Oregon, 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, 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. 

 
Condensed Consolidated Income Statements
         
  Three Months Ended  Year Ended
 (in thousands, except per    June 30  June 30
 share data; unaudited)  2012  2011  2012  2011
         
Net sales $71,196 $74,217 $268,402 $293,501
         
Cost of products and services sold 54,589 57,465 208,089 221,156
         
Gross profit 16,607 16,752 60,313 72,345
         
Selling and administrative expenses 13,767 14,202 53,982 56,041
         
Operating income 2,840 2,550 6,331 16,304
         
Interest expense, net 32 66 140 137
         
Income before income taxes 2,808 2,484 6,191 16,167
         
Income tax expense 1,303 987 2,967 5,339
         
Net income $1,505 $1,497 $3,224 $10,828
         
Income per common share         
Basic $0.06 $0.06 $0.13 $0.45
Diluted $0.06 $0.06 $0.13 $0.44
         
Weighted average common shares outstanding        
Basic 24,302 24,293 24,298 24,287
Diluted 24,357 24,366 24,352 24,339
     
     
Condensed Consolidated Balance Sheets    
(in thousands, unaudited)  June 30, June 30,
  2012 2011
Current Assets $106,623 $106,100
Property, Plant and Equipment, net 42,526 44,284
Other Assets 26,077 25,637
  $175,226 $176,021
     
Current Liabilities $22,921 $21,576
Long-Term Debt -- 1,064
Other Long-Term Liabilities 2,937 2,163
Shareholders' Equity 149,368 151,218
  $175,226 $176,021
CONTACT: BOB READY OR
         RON STOWELL
         (513) 793-3200

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