This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

LSI Industries Inc. Reports Operating Results For The Third Quarter And Nine Month Period Ended March 31, 2013

Stocks in this article: LYTS

Cash Dividend Actions

The Board of Directors declared a regular quarterly cash dividend of $0.06 per share payable May 14, 2013 to shareholders of record as of May 7, 2013. The indicated annual cash dividend rate for fiscal 2013 is $0.24 per share. The declaration and amount of any cash and stock dividends will be determined by the Board of Directors in its discretion based upon its evaluation of earnings, cash flow requirements and future business developments and opportunities, including acquisitions, if any. 

Company Comments

Robert J. Ready, Chief Executive Officer, commented, "Looking at the third quarter ended March 31, 2013, from a segment viewpoint, Lighting increased 1.4% ($658,000), Graphics increased 46.6% ($4,170,000), Electronics decreased 4.6% ($214,000), and the All Other Category decreased 52.3% ($1,399,000). Taken as a whole, total net sales increased 5.1%, or $3,218,000 from the same quarterly period of the prior fiscal year. Before an additional goodwill impairment and reversal of the tax impact of a contingent earnout liability, we operated at a breakeven basis during the most recent quarter. We would have had better operating results had we not made a major transition to stronger lighting sales representation in several geographic markets. While this action caused a short-term negative effect on sales, we believe it will result in the enhancement of our long-term market position.

"What about the future? We see a very strong future for LSI Industries. This optimism is being driven by (i) our flow of new products (particularly solid-state LED lighting solutions), (ii) our recently acquired and implemented capability to integrate controls into products that address the fast growing lighting controls part of the market, (iii) the generally favorable growth prospects for our niche and commercial / industrial lighting markets and (iv) our recent changes in independent sales representation in the C & I lighting market. 

"Particularly important is demand that is being driven by energy-efficient lighting and graphics renovation projects. LSI is one of the leading lighting and graphics companies that is dedicated to providing a wide range of advanced solid-state LED products to the marketplace. At present, approximately 35% of our total lighting sales are from this platform. In certain of our niche markets this percentage is substantially higher. We introduced our Sterling™ (XSB) LED area light in April. This patented design features angled LED optical assemblies which are purposely positioned to deliver light with precision control for greater uniformity, increased distance between pole assemblies and greater overall lumen performance than any of our previous LED designs. As a result, fewer light assemblies are required, translating into lower energy and installation costs with a faster payback. 

3 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,695.27 +22.67 0.13%
S&P 500 2,053.81 +1.99 0.10%
NASDAQ 4,765.0460 +7.1670 0.15%

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