First Half Fiscal 2013 ResultsNet sales in the first half of fiscal 2013 were $145,801,000, an increase of 9% as compared to last year's first half net sales of $134,269,000. Lighting Segment net sales increased 6.7% to $109,534,000 with sales to national accounts and niche markets increasing 8.4%, sales to the Commercial / Industrial lighting market decreasing 5.7%, sales of $5,018,000 related to LED video screens increasing 272.6%, and lighting sales to international markets of $7,981,000 increasing 27.8%. In the other reportable business segments, Graphics Segment net sales increased 3.4% to $21,277,000, Electronic Components Segment net sales increased 24.3% to $10,713,000 and net sales of the All Other Category increased 80.2% to $4,277,000. The Company's first half net sales to the Petroleum / Convenience Store market were approximately $41.5 million, representing a $4.0 million or 10.6% increase over the same period of the prior year. In the first half of fiscal 2013, the Company reduced the contingent earn-out liability related to the March 2012 acquisition of Virticus Corporation and recorded pre-tax income of $705,000 primarily in the Corporate Administrative expenses, with no comparable item in the first half of fiscal 2012. The Company reported a $2,141,000 goodwill impairment in the Electronic Components Segment in the first half of fiscal 2013 as compared to a $258,000 goodwill impairment in the Graphics Segment in the first half of fiscal 2012. The fiscal 2013 first half net loss of $(620,000), or $(0.03) per share, compares to fiscal 2012 first half net income of $2,096,000, or $0.09 per share. Earnings per share represents diluted earnings per share.
LSI Industries Inc. Reports Operating Results For The Second Quarter And First Half Ended December 31, 2012
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