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

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 Statements of Operations
         
  Three Months Ended  Nine Months Ended 
  March 31 March 31
(in thousands, except per share data; unaudited)  2013 2012 2013 2012
         
Net sales $ 66,152 $ 62,937 $ 211,953 $ 197,206
         
Cost of products and services sold 52,231 49,621 166,279 153,500
         
Gross profit 13,921 13,316 45,674 43,706
         
Selling and administrative expenses 14,155 13,222 43,449 39,957
         
Goodwill impairment 272  -- 2,413 258
         
Operating income (loss) (506) 94 (188) 3,491
         
Interest expense, net 21 31 23 108
         
Income (loss) before income taxes (527) 63 (211) 3,383
         
Income tax expense (benefit) (212) 440 724 1,664
         
Net income (loss) $ (315) $ (377) $ (935) $ 1,719
         
Income (loss) per common share         
Basic $ (0.01) $ (0.02) $ (0.04) $ 0.07
Diluted $ (0.01) $ (0.02) $ (0.04) $ 0.07
         
Weighted average common shares outstanding      
Basic 24,312 24,300 24,308 24,297
Diluted 24,410 24,360 24,372 24,352
 
 
Condensed Consolidated Balance Sheets
 (in thousands, unaudited) March 31, June 30,
  2013 2012
Current Assets $ 101,907 $ 106,623
Property, Plant and Equipment, net 44,672 42,526
Other Assets 21,787 26,077
  $ 168,366 $ 175,226
     
Current Liabilities $24,236 $22,921
Long-Term Debt --  --
Other Long-Term Liabilities 2,084 2,937
Shareholders' Equity 142,046 149,368
  $ 168,366 $ 175,226
CONTACT: BOB READY OR
         RON STOWELL
         (513) 793-3200

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