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LSI Industries Inc. (LYTS) filed Quarterly Report for the period ended 2011-12-31.
Lsi Industries Inc. has a market cap of $167.3 million; its shares were traded at around $6.96 with a P/E ratio of 27.8 and P/S ratio of 0.6. The dividend yield of Lsi Industries Inc. stocks is 3.4%.
This is the annual revenues and earnings per share of LYTS over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of LYTS.
Highlight of Business Operations:
Fiscal 2012 second quarter net sales of $68,774,000 decreased $6.0 million or 8.1% as compared to second quarter fiscal 2011. Net sales were favorably influenced by increased net sales of the Lighting Segment (up $6.0 million or 12.7%). Net sales were unfavorably influenced by Graphics Segment (down $10.7 million or 51.4%), the Electronic Components Segment (down $1.1 million or 20.1%), and the All Other Category (down $0.3 million or 24.9%). Net sales to the petroleum / convenience store market, the Company s largest niche market, were $20,920,000 or 30.4% of total net sales and $33,567,000 or 44.9% of total net sales in the second quarter of fiscal 2012 and 2011, respectively. The $12.6 million or 37.7% drop is primarily due to the completion of the program with 7-Eleven, Inc., who replaced traditional canopy, site and sign lighting with solid-state LED lighting. Net sales to this petroleum / convenience store customer are reported in both the Lighting and Graphics segments.Fiscal 2012 first half net sales of $134,269,000 decreased $20.4 million or 13.2% as compared to the same period of fiscal 2011. Net sales were favorably influenced by increased net sales of the Lighting Segment (up $6.7 million or 7%). Net sales were unfavorably influenced by Graphics Segment (down $25.3 million or 55.1%), the Electronic Components Segment (down $1.2 million or 12.4%), and the All Other Category (down $0.6 million or 20.3%). Net sales to the petroleum / convenience store market, the Company s largest niche market, were $39,222,000 or 29.2% of total net sales and $67,389,000 or 43.6% of total net sales in the first half of fiscal 2012 and 2011, respectively. The $28.2 million or 41.8% drop is primarily due to the completion of the program with 7-Eleven, Inc., who replaced traditional canopy, site and sign lighting with solid-state LED lighting. Net sales to this petroleum / convenience store customer are reported in both the Lighting and Graphics segments.
Lighting Segment net sales of $53,526,000 in the second quarter of fiscal 2012 increased 12.7% from fiscal 2011 same period net sales of $47,506,000. The $6.0 million increase in Lighting Segment net sales is primarily the net result of a $3.6 million or 15% net increase in lighting sales to our niche markets and national retail accounts, and a $1.5 million or 7% increase in commissioned net sales to the commercial / industrial lighting market. Sales of lighting to the petroleum / convenience store market represented 33% and 35% of Lighting Segment net sales in the second quarter of fiscal years 2012 and 2011, respectively. Lighting Segment net sales of lighting to this, the Company s largest niche market, were up 5% from last year to $17,421,000. Included in the net change, and partially offsetting other increases, was a $4.3 million decrease of Lighting Segment sales related to the December 2010 conclusion of a program with 7-Eleven, Inc., who replaced traditional canopy, site and sign lighting with solid-state LED lighting. This decrease was more than offset by net increases to other Lighting Segment customers. The petroleum / convenience store market has been, and will continue to be, a very important niche market for the Company. The Lighting Segment s net sales of light fixtures having solid-state LED technology totaled $19.1 million in the second quarter of fiscal 2012, representing a 19.1% increase over fiscal 2011 second quarter solid-state LED light fixture net sales of $16.0 million. The Lighting Segment s net sales related to LED video screens totaled $1.0 million compared to no sales in the second quarter of fiscal 2011. Lighting Segment sales to the international markets decreased 5% to $3.2 million.
Lighting Segment net sales of $102,697,000 in the first half of fiscal 2012 increased 7% from fiscal 2011 same period net sales of $95,952,000. The $6.7 million increase in Lighting Segment net sales is primarily the result of a $3.4 million or 7% net increase in lighting sales to our niche markets and national retail accounts, and a $2.3 million or 5% increase in commissioned net sales to the commercial / industrial lighting market. Sales of lighting to the petroleum / convenience store market represented 30% and 33% of Lighting Segment net sales in the first half of fiscal years 2012 and 2011, respectively. Lighting Segment net sales of lighting to this, the Company s largest niche market, were down 1.5% from last year to $30,697,000. Included in the net change, and offsetting other increases, was an $8.9 million decrease related to the December 2010 conclusion of a program with 7-Eleven, Inc., who replaced traditional canopy, site and sign lighting with solid-state LED lighting. The petroleum / convenience store market has been, and will continue to be, a very important niche market for the Company. The Lighting Segment s net sales of light fixtures having solid-state LED technology totaled $33.8 million in the first half of fiscal 2012, representing a 17.8% increase from fiscal 2011 first half net sales of solid-state LED light fixtures of $28.7 million. The Lighting Segment s net sales related to LED video screens totaled $1.2 million, representing a 30.1% increase from fiscal 2011 first half sales of $0.9 million. Lighting Segment sales to the international markets increased 15% to $6.2 million.
Graphics Segment net sales of $20,579,000 in the first half of fiscal 2012 decreased 55.2% from fiscal 2011 same period net sales of $45,883,000. The $25.3 million decrease in Graphics Segment net sales is primarily the net result of the completion of the program with 7-Eleven, Inc. ($23.9 million decrease), image conversion programs and sales to seven petroleum / convenience store customers ($2.2 million net decrease), two grocery retailers ($0.7 million decrease), a national drug store retailer ($0.9 million increase), a quick-service restaurant chain ($0.9 million increase) and changes in volume or completion of several other graphics programs. Sales of graphics products and services to the petroleum / convenience store market represented 41% and 77% of Graphics Segment net sales in the first half of fiscal years 2012 and 2011, respectively. Graphics Segment net sales of graphics to this, the Company s largest niche market, were down 76% from last year to $8,525,000, with approximately $23.9 million of the decrease related to the completion of the program with 7-Eleven, Inc., who replaced traditional sign lighting with solid-state LED lighting. The petroleum / convenience store market has been, and will continue to be, a very important niche market for the Company. The Graphics Segment net sales of graphic identification products that contain solid-state LED light sources and LED lighting for signage totaled $0.8 million in the first half of fiscal 2012 as compared to $3.3 million in the same period of the prior year.
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