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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

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 Year Ended
(in thousands, except per June 30 June 30
share data; unaudited) 2013 2012 2013 2012
         
Net sales $68,837 $71,196 $280,790 $268,402
         
Cost of products and services sold 54,101 54,589 220,380 208,089
         
Gross profit 14,736 16,607 60,410 60,313
         
Selling and administrative expenses 13,918 13,767 57,367 53,724
         
Goodwill impairment -- -- 2,413 258
         
Operating income 818 2,840 630 6,331
         
Interest expense (income), net (8) 32 15 140
         
Income before income taxes 826 2,808 615 6,191
         
Income tax expense 14 1,303 738 2,967
         
Net income (loss) $812 $1,505 $(123) $3,224
         
Income (loss) per common share        
Basic $0.03 $0.06 $(0.01) $0.13
Diluted $0.03 $0.06 $(0.01) $0.13
         
Weighted average common shares outstanding        
Basic 24,326 24,302 24,313 24,298
Diluted 24,447 24,357 24,385 24,352
     
Condensed Consolidated Balance Sheets    
(in thousands, unaudited) June 30, June 30,
  2013 2012
Current Assets $102,913 $106,623
Property, Plant and Equipment, net 45,350 42,526
Other Assets 20,916 26,077
  $169,179 $175,226
     
Current Liabilities $26,210 $22,921
Long-Term Debt -- --
Other Long-Term Liabilities 1,279 2,937
Shareholders' Equity 141,690 149,368
  $169,179 $175,226
CONTACT: BOB READY OR
         RON STOWELL
         (513) 793-3200

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