Nine Month Fiscal 2013 ResultsNet sales in the first nine months of fiscal 2013 were $211,953,000, an increase of 7% as compared to last year's nine month net sales of $197,206,000. Lighting Segment net sales increased 5.0% to $156,906,000 with sales to national accounts and niche markets increasing 4.4%, sales to the Commercial / Industrial lighting market decreasing 2.2%, sales of $5,802,000 related to LED video screens increasing 268.8%, and lighting sales to international markets of $11,831,000 increasing 15.6%. In the other reportable business segments, Graphics Segment net sales increased 16.5% to $34,387,000, Electronic Components Segment net sales increased 14.2% to $15,108,000 and net sales of the All Other Category increased 10.0% to $5,552,000. The Company's fiscal 2013 nine month net sales to the petroleum / convenience store market were approximately $59.0 million, representing a $6.3 million or 12.0% increase over the same period of the prior fiscal year. In the first nine months 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 nine months of fiscal 2012. The Company reported a $2,413,000 goodwill impairment in the Electronic Components Segment in the first nine months of fiscal 2013 as compared to a $258,000 goodwill impairment in the Graphics Segment in the first nine months of fiscal 2012. The fiscal 2013 nine month net loss of $(935,000), or $(0.04) per share, compares to fiscal 2012 nine month net income of $1,719,000, or $0.07 per share. Earnings per share represents diluted earnings per share.
LSI Industries Inc. Reports Operating Results For The Third Quarter And Nine Month Period Ended March 31, 2013
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