Lsi Industries Inc (LYTS) 10-K Annual Report September 2018

LYTS Annual Reports

LYTS Quarterly Reports

10-Q Quarterly Report November 2023

10-Q Quarterly Report May 2023

10-Q Quarterly Report February 2023

10-Q Quarterly Report November 2022

10-Q Quarterly Report May 2022

10-Q Quarterly Report February 2022

10-Q Quarterly Report November 2021

10-Q Quarterly Report April 2021

10-Q Quarterly Report January 2021

10-Q Quarterly Report November 2020

LYTS Corporate News

Vote of Security Holders

November 2023

Earnings Release
Financial Exhibit
Regulated Disclosure

November 2023

Event for Officers

August 2023

Earnings Release
Financial Exhibit
Regulated Disclosure

August 2023

Earnings Release
Financial Exhibit
Regulated Disclosure

April 2023

Financial Exhibit
Regulated Disclosure

March 2023

Financial Exhibit
Regulated Disclosure

March 2023

Earnings Release
Financial Exhibit
Regulated Disclosure

January 2023

Financial Exhibit
Vote of Security Holders

November 2022

Earnings Release
Financial Exhibit
Regulated Disclosure

November 2022

Lsi Industries Inc

HISTORY TOOLS

CIK: 1379396 Ticker: LYTS

EXHIBIT 99.1

	CONTACT: JIM GALEESE
FOR IMMEDIATE RELEASE	(513) 793-3200
DATE: AUGUST 16, 2018

LSI INDUSTRIES INC. REPORTS OPERATING RESULTS FOR THE FOURTH QUARTER AND FULL YEAR ENDED JUNE 30, 2018; DECLARES REGULAR CASH DIVIDEND

Cincinnati, OH; August 16, 2018 – LSI Industries Inc. (NASDAQ: LYTS) today announced:

Fourth Quarter Operating Results:

·	Sales of $83.4 million, flat to fourth quarter 2017;

·	Adjusted Operating Income 3% above last year;

·	GAAP reported EPS $(0.10), includes $(0.12) related to non-GAAP adjustments, versus $0.03 in 2017

·	Declares regular dividend of $0.05

Full Year Operating Results:

·	Sales 3% above last year

·	Adjusted Operating Income 33% above prior year

·	Adjusted EPS $0.22 versus $0.19 for fiscal 2017

·	Positive Cash Flow generates further debt reduction

Net sales in the fourth quarter of fiscal 2018 were $83,409,000, flat compared to the $83,419,000 reported in the same period of the prior year. Reported net income was a loss of $(2,664,000) compared to net income of $696,000 in the fourth quarter 2017. Reported EPS of $(0.10) was below reported EPS of $0.03 for the fourth quarter of the prior year. The business recorded a fourth quarter charge of $3,136,000 related to the CEO transition announced earlier in the quarter. This charge impacts GAAP reported results and is excluded from adjusted results. Adjusted operating income was $1,045,000 compared to $1,012,000 for the fourth quarter last year. Adjusted EPS of $0.02 was flat with the fourth quarter prior year.

Fiscal year 2018 sales of $342,023,000 were 3% above prior year. Adjusted operating income was $9,612,000 or 33% above prior year of $7,254,000. Reported EPS for the year was a loss of $(0.76) compared to EPS of $0.12 in fiscal 2017. Adjusted full year EPS was $0.22, an increase of $0.03 versus $0.19 in the prior year. See reconciliation of net income and earnings per share in the Non-GAAP table below.

The business generated positive cash flow in the fourth quarter and for the full year 2018, serving to further reduce our debt level and maintain our strong financial position. The Board of Directors approved a regular cash dividend of $0.05 per share payable September 4, 2018 to shareholders of record on August 27, 2018.

Management Comments and Outlook

Ron Brown, CEO commented, "Our results in the fourth quarter were mixed. While the Graphics business posted strong results, we continue to face challenges in the Lighting business. During the quarter, we drove several improvement initiatives across the Company which will better position the business for growth in the coming quarters. These actions generated some very positive developments, as well as addressed some of our continuing challenges.

"Our Graphics business delivered a solid quarter, generating sales growth of 33% versus last year, with operating income improving 86%. More encouraging is that orders outpaced sales, and as a result, we are entering the first quarter of fiscal 2019 with an increased backlog. Activity remains strong in the petroleum market, with increasing opportunities being realized at multiple accounts. The deregulation of the Mexico petroleum industry generated incremental business in the fourth quarter, and our proven solutions with major oil companies positions us well for future opportunities in this region.

"Our digital signage business, branded SOAR, continues to generate strong interest. We were recently selected by a national quick service restaurant (QSR) chain to be a significant supplier for a major image program as they implement digital technology across the brand. We began shipping products for pilot locations late in the fourth quarter and are preparing to accelerate production as required by their renovation schedule.

"Lighting segment sales were 8% below prior year, with much of the shortfall occurring in the general commercial and industrial project (C&I) area. We continue to evaluate the broad C&I market, focusing on applications which are growing and present the opportunity for LSI to provide specific solutions to customer needs. LED sales now represent 93% of all lighting fixture sales at LSI.

"Petroleum, which is a key market in lighting where we hold a strong position, has also remained somewhat soft. However, we are encouraged as customers continue to favorably adopt our new canopy fixture range. This product line has recently been expanded to provide customers with the flexibility to choose feature sets that best meet their individual needs. A similar scenario is occurring in the automotive market, where customer reaction to our new outdoor lighting line has been very favorable. Ongoing training efforts highlighting the features and benefits of the new product line are leading to increased levels of inquiries and quotations. The launch schedule for these new automotive products will continue through October, when the full product range will be available to the market.

"Other new product development activity remains strong, targeting growing applications including parking, renovation, and warehousing. I would like to highlight our new "Excursion" parking garage fixture. Soon after launch, we received a significant order which included our AirLink wireless control solution. LSI was awarded the order not only because we provided the preferred solution, but also due to our ability to produce and ship on a short lead-time basis. Our capability to engineer, produce, and ship customer-specified solutions with short lead-time requirements is an important element of our value equation. Going forward, we intend to promote this capability more effectively in the marketplace.

"Gross margin for the fourth quarter was 140 basis points below prior year, impacted primarily by volume/mix, and low margins on the initial pilot runs for several of our new products and solutions. We expect these margins to improve as we shift out of the pilot phase to normal production. Operating expenses decreased 140 basis points, offsetting the lower margin.

The following information was filed by Lsi Industries Inc (LYTS) on Thursday, August 16, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/763532/000143774918016857/lyts20180630_10k.htm

View differences made from one year to another to evaluate Lsi Industries Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Lsi Industries Inc.

Continue

Assess how Lsi Industries Inc's management team is paid from their Annual Proxy

Lsi Industries Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Lsi Industries Inc provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: LYTS
CIK: 763532
Form Type: 10-K Annual Report
Accession Number: 0001437749-18-016857
Submitted to the SEC: Tue Sep 11 2018 4:33:46 PM EST
Accepted by the SEC: Tue Sep 11 2018
Period: Saturday, June 30, 2018
Industry: Electric Lighting And Wiring Equipment