Lsi Industries Inc. (NASDAQ:LYTS)

Lsi Industries Inc. (NASDAQ:LYTS) ($14.59; $424.1m market cap) announced Q3 2024 results:

• Sales of $108.2 million vs $117.4 million in the prior year and ahead of analyst estimates of $105.6 million
• Adjusted EPS of $0.21 vs $0.19 in the prior year and ahead of analyst estimates of $0.16

“Having built a strong platform for organic growth, inorganic growth is also an important focus for us, first with our acquisition of JSI Store Fixtures in 2021, and now with our acquisition of EMI Industries. As we continue to scale our platform, we anticipate our business will become increasingly cash generative, positioning us to pursue additional opportunities that broaden our capabilities, enhance our sales mix, and expand our customer touchpoints.”

“The addition of EMI is an excellent strategic fit for LSI, expanding our product and service capabilities for display solutions market applications, particularly in the c-store, grocery, and restaurant verticals. As we bring together our complementary products, services, and technologies, there are significant cross-selling opportunities that will enable us to be a single-source provider to more customers in more locations,” stated Clark. "The business combination represents a major step forward in our ability to serve a growing portfolio of national retail chains, and capitalize on the ongoing, multi-year investment cycle occurring in these markets.”

LYTS announced the acquisition of EMI on April 18, 2024, you can see our note here. 

The company produces and sells non-residential lighting and retail display solutions

Lsi Industries Inc. (NASDAQ:LYTS) produces and sells non-residential lighting and retail display solutions announced Q2 2023 results:

• Sales of $128.8 million vs $111.1 million in the prior year and ahead of analyst estimates of $118.4 million

• Adjusted EPS of $0.26 vs $0.15 in the prior year and ahead of analyst estimates of $0.18

“In the second quarter, one of the nation’s largest grocery chains awarded LSI a major display case expansion and replacement project, committing to purchase more than $12 million of refrigerated and non-refrigerated displays during the next nine months…

…We delivered a solid second quarter and we exit the fiscal first half with continued momentum across our business. Demand levels in key vertical markets remain favorable, our backlog is healthy, customers increasingly recognize the value of our solutions, manufacturing and supply chain execution remain on-point, and positive cash flow and debt reduction are expected to continue. Looking ahead, despite ongoing pressures on the general economy, we remain optimistic about the second half of the fiscal year and the long-term prospects of our markets. We’ll continue our emphasis on balancing short-term execution with long-term investments to build the business and achieve profitable growth in the years ahead.”

With trailing 12 month adjusted EPS of $0.87, shares are trading at a P/E of ~16. We are working on scheduling a fireside chat with management.

"Even if it is too early to declare a resumption of economic growth in the overall economy, at LSI we are seeing signs that give us optimism for our business during the first half of fiscal 2010. As we gather momentum with our solid-state LED product offerings the future does indeed look to be improving. During the past fiscal year we took numerous cost-cutting actions and continued to improve the efficiency of the organization. This is evident in looking at our fourth quarter operations where net sales were down 24% over the same period of the prior year but the net loss was close to a breakeven before giving effect to the impact of goodwill impairment. With higher revenues expected during the first half of fiscal 2010 we expect improving operating results and a return to profitability.

Source: GlobeNewswire (August 20, 2009)

Considering the uncertainty of the economy and the near-to-intermediate term outlook for our lighting and graphics markets makes it a frustrating and futile exercise to provide reasonable sales and earnings guidance at this point in time. LSI's business is not driven by backlog, thereby making the task of forecasting even more prone to error during turbulent economic times like those now present. Therefore, we will suspend providing sales and earnings guidance until conditions once again allow us to provide reasonable estimates of future operating results.

Source: GlobeNewswire (April 23, 2009) 

Guidance Report:

Full year fiscal guidance ending June 2009

 * EPS excludes a goodwill impairment charge of $(0.59) per share.

 Source: GlobeNewswire (January 22, 2009)