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LSI Industries Inc. reports news on its commercial lighting and display solutions business, including financial results, cash dividends, acquisition activity and customer project demand across retail and other multi-site markets. The company manufactures non-residential indoor and outdoor lighting, lighting controls, print and digital graphics, signage, menu board systems, refrigerated, heated and custom displays.
Recurring updates also cover LSI's Lighting and Display Solutions segments, project management services for large-scale product rollouts, and the combined platform capabilities added through the completed Royston Group acquisition. News commonly links operating performance to branding, remodel and new-build programs for petroleum and convenience stores, quick-service restaurants, grocery, automotive and other commercial customers.
LSI Industries (LYTS) reported a fourth-quarter net income of $1.5 million, up from $0.9 million last year, with an EPS of $0.06 compared to $0.03. The fiscal year 2020 net income rose to $9.6 million, reversing a loss of $16.3 million in the previous year, reflecting strong operational changes despite pandemic impacts. Free cash flow for the quarter stood at $11.5 million, leading to zero long-term debt by June 30, 2020. The company also announced a regular cash dividend of $0.05 per share, payable September 8, 2020. Management emphasized a focus on profitable growth and efficiency improvements.
LSI Industries (NASDAQ: LYTS) plans to release its fourth quarter and full-year fiscal 2020 results on August 20, 2020, before the market opens. A conference call is scheduled for the same day at 11:00 a.m. ET for discussing the financial results and engaging in a Q&A session. Interested parties can access the call via teleconference or webcast. A replay will be available from August 20 to September 3, 2020. LSI Industries, based in Blue Ash, Ohio, specializes in high-performance lighting solutions.
LSI Industries (NASDAQ: LYTS) has received Samsung’s Smart Signage Award for Food & Beverage Installation of the Year, recognizing its innovative digital signage solutions for quick service restaurants (QSRs). The award highlights LSI’s commitment to understanding customer needs. In April 2020, LSI announced a significant contract worth over $100 million with a major QSR chain for digital menu boards to be installed in over 6,000 locations by year-end 2022. The award was presented during Samsung’s virtual Back to Business event.
LSI Industries (NASDAQ: LYTS) announced the election of Chantel Lenard to its Board of Directors, effective June 17, 2020. Lenard, with over 25 years at Ford Motor Company, brings significant marketing expertise and will serve on the Audit and Compensation Committees. Concurrently, John Morgan will not seek re-election at the November 2020 Annual Shareholders Meeting after serving since 2016. The company emphasizes that both leadership changes aim to enhance strategic oversight and operational insights.
On June 1, 2020, LSI Industries (LYTS) granted Jonathon Towner, the new Vice President and Chief Information Officer, an inducement stock option to purchase 30,000 shares. The option has a ten-year term with an exercise price of $6.42 per share, matching the closing price on the grant date. This grant complies with NASDAQ Listing Rule 5635(c)(4) and is part of Towner's employment initiation. LSI operates as a leading manufacturer of lighting and graphics solutions in the U.S., employing roughly 1,200 personnel across its seven manufacturing plants.