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

Stocks in this article: LYTS

"Later this quarter we will be introducing additional cost-effective advanced solid-state LED products for both indoor and outdoor applications that are specifically targeted to accelerate the momentum we have already achieved in the retail petroleum / convenience store market. We believe our new canopy fixture will once again establish a new standard in value and performance the way the LSI Scottsdale did in 1995. This high performance solid-state LED product has tremendous potential. Also, we have been selected by a large oil company as the primary source for a new national rollout program that will begin during our fourth quarter and will continue throughout the next fiscal year. The program involves both graphics and lighting elements and employs our newest LED products.

"In the second quarter press release, I mentioned our recent move to upgrade our independent sales representation in our lighting business in a number of important geographic markets. We are now able to better extend our influence into the specification-grade part of the C & I lighting market. These changes give us stronger representation in a number of large markets, including Boston, New York, Washington DC, New Jersey, San Diego, Salt Lake City, Detroit, South Carolina, New Hampshire, Maine and Vermont. During the third and fourth quarters of fiscal 2013 the transition plan has and will continue to result in some temporary loss of sales volume which will gradually be offset by the new rep groups as they come on line. As we move into fiscal 2014 we fully expect to see the benefits of this strategic move to larger and more powerful selling agencies. For our commercial / industrial lighting part of the business, we believe these agency changes combined with our new LED and controls products could generate sales increases of between 25% and 50% from the current base of about $100 million over the next couple of fiscal years.

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