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 Fourth Quarter And Fiscal Year Ended June 30, 2013, And Declares Regular Quarterly Cash Dividend

Stocks in this article: LYTS

CINCINNATI, Aug. 22, 2013 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS) today:

  • reported fourth quarter net sales of $68,837,000, a decrease of 3% as compared to $71,196,000 in the same period of the prior fiscal year;  
  • reported fourth quarter net income of $812,000 or $0.03 per share as compared to net income of $1,505,000 or $0.06 per share for the same period of the prior fiscal year;  
  • reported fiscal 2013 net sales of $280,790,000, an increase of 5% as compared to $268,402,000 in the prior fiscal year;  
  • reported a fiscal 2013 net loss of $(123,000) or $(0.01) per share as compared to net income of $3,224,000 or $0.13 per share for the prior fiscal year; and  
  • declared a regular quarterly cash dividend of $0.06 per share payable September 10, 2013 to shareholders of record September 3, 2013.
Financial Highlights            
(In thousands, except per Three Months Ended Year Ended
share data; unaudited) June 30 June 30
  2013 2012 % Change 2013 2012 % Change
Net Sales $68,837 $71,196 (3)% $280,790 $268,402 5%
Operating Income $818 $2,840 (71)% $630 $6,331 (90)%
Net Income (Loss) $812 $1,505 (46)% $(123) $3,224 n/m
Earnings (Loss) per Share (Diluted) $0.03 $0.06 (50)% $(0.01) $0.13 n/m
  6/30/13 6/30/12
Working Capital $76,703 $83,702
Total Assets $169,179 $175,226
Long-Term Debt $ nil $ nil
Shareholders' Equity $141,690 $149,368

Fourth Quarter Fiscal 2013 Results

Net sales in the fourth quarter of fiscal 2013 were $68,837,000, a decrease of 3% as compared to last year's fourth quarter net sales of $71,196,000. Lighting Segment net sales decreased 1.5% to $49,457,000 with sales to national accounts and niche markets decreasing 10.5%, sales to the Commercial / Industrial lighting market increasing 0.1%, sales of $224,000 related to LED video screens decreasing 26.8%, and lighting sales to international markets of $5,087,000 increasing 55.9%. In the other reportable business segments, Graphics Segment net sales decreased 1.8% to $12,383,000, Electronic Components Segment net sales decreased 1.2% to $5,225,000 and net sales of the All Other Category decreased 42.8% to $1,772,000. The Company's fourth quarter net sales to the petroleum / convenience store market were approximately $17.4 million, representing a $1.6 million or 8.5% decrease over the same period of the prior fiscal year. In the fourth quarter of fiscal 2013, the Company reduced the contingent earn-out liability related to the March 2012 acquisition of Virticus Corporation to zero and recorded pre-tax income of $241,000 primarily in the Corporate Administrative expenses, with no comparable item in fiscal 2012. The fiscal 2013 fourth quarter net income of $812,000, or $0.03 per share, compares to the fiscal 2012 fourth quarter net income of $1,505,000, or $0.06 per share. Earnings per share represents diluted earnings per share.

1 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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