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TheStreet Open House

LSI Industries Inc. Reports Operating Results For The First Quarter Ended September 30, 2013, And Declares Regular Quarterly Cash Dividend

CINCINNATI, Oct. 24, 2013 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS ) today:

  • reported first quarter net sales of $80,486,000, an increase of 8% as compared to $74,719,000 in the same period of the prior fiscal year;
  • reported first quarter net income of $1,865,000 or $0.08 per share as compared to net income of $1,830,000 or $0.08 per share for the same period of the prior fiscal year;
  • declared a regular quarterly cash dividend of $0.06 per share payable November 12, 2013 to shareholders of record November 5, 2013; and
  • commented that it sees strong growth in sales and earnings for fiscal 2014, and a very favorable outlook longer-term.
Financial Highlights      
(In thousands, except per share data; unaudited) Three Months Ended
  September 30
  2013 2012 % Change
       
Net Sales $80,486 $74,719 8%
       
Operating Income $2,839 $3,027 (6)%
       
Net Income $1,865 $1,830 2%
       
Earnings Per Share (diluted) $0.08 $0.08 0%
       
   9/30/13  6/30/13  
Working Capital $77,473 $76,703  
Total Assets $172,104 $169,179  
Long-Term Debt $ nil $ nil  
Shareholders' Equity $142,802 $141,690  

First Quarter Fiscal 2014 Results

Net sales in the first quarter of fiscal 2014 were $80,486,000, an increase of 8% as compared to last year's first quarter net sales of $74,719,000. Lighting Segment net sales increased 6.6% to $59,471,000, Graphics Segment net sales increased 30.4% to $14,008,000, Electronic Components Segment net sales decreased 11.7% to $5,080,000 and All Other Category net sales decreased 20.7% to $1,927,000. The fiscal 2014 first quarter net income of $1,865,000, or $0.08 per share, compares to fiscal 2013 first quarter net income of $1,830,000, or $0.08 per share. Earnings per share represents diluted earnings per share.

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