-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HDVCobWGcV3jmvQ8NuZ9Kec/w4WiqWyJT0eMDgZH77KN7nSwwHgISvJuPXXtHzCg t5prvgqFMKiNFlsn+ZJpAg== 0000000000-05-051000.txt : 20060718 0000000000-05-051000.hdr.sgml : 20060718 20051004102030 ACCESSION NUMBER: 0000000000-05-051000 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051004 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: LSI INDUSTRIES INC CENTRAL INDEX KEY: 0000763532 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC LIGHTING & WIRING EQUIPMENT [3640] IRS NUMBER: 310888951 STATE OF INCORPORATION: OH FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 10000 ALLIANCE RD STREET 2: P O BOX 42728 CITY: CINCINNATI STATE: OH ZIP: 45242 BUSINESS PHONE: 5135796411 MAIL ADDRESS: STREET 1: 10000 ALLIANCE RD STREET 2: P O BOX 42728 CITY: CINCINNATI STATE: OH ZIP: 45242 FORMER COMPANY: FORMER CONFORMED NAME: LSI LIGHTING SYSTEMS INC DATE OF NAME CHANGE: 19891121 PUBLIC REFERENCE ACCESSION NUMBER: 0001193125-05-184005 LETTER 1 filename1.txt Mail Stop 6010 October 4, 2005 By U.S. Mail and Facsimile to (513) 791-0813 Mr. Ronald S. Stowell Vice President, Chief Financial Officer and Treasurer LSI Industries Inc. 10000 Alliance Road Cincinnati, Ohio 45242 Re: LSI Industries Form 10-K for the fiscal year ended June 30, 2005 File No. 0-13375 Dear Mr. Stowell, We have reviewed your filing and have the following comments. We have limited our review to matters related to the issues raised in our comments. Where indicated, we think you should revise your future filings in response to these comments. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary. Please be as detailed as necessary in your explanation. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. After reviewing this information, we may raise additional comments. Please understand that the purpose of our review process is to assist you in your compliance with the applicable disclosure requirements and to enhance the overall disclosure in your filing. We look forward to working with you in these respects. We welcome any questions you may have about our comments or any other aspect of our review. Feel free to call us at the telephone numbers listed at the end of this letter. Form 10-K for the fiscal year ended June 30, 2005 Note 1 - Summary of Significant Accounting Policies, page S-19 1. We note that in certain situations you recognize product revenue before installation has been completed. Please tell us and revise future filings to disclose the specific terms and conditions of those agreements in which you recognize product revenue prior to installation and tell us why revenue recognition upon shipment is appropriate. Note 8 - Shareholders` Equity, page S-28 2. We note that you changed the distribution method of your deferred compensation plan in April 2004 to allow terminated participants to receive cash distributions rather than share distributions; therefore the plan is now subject to variable accounting. Please confirm that the change was accounted for from the date of the modification, or April 2004. If so, tell us what effect the modification had on fiscal year 2004 and your previously reported Form 10-Q`s. ````` As appropriate, please respond to these comments within 10 business days or tell us when you will provide us with a response. Please furnish a cover letter that keys your responses to our comments and provides any requested information. Detailed cover letters greatly facilitate our review. Please understand that we may have additional comments after reviewing your responses to our comments. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes all information required under the Securities Exchange Act of 1934 and that they have provided all information investors require for an informed decision. Since the company and its management are in possession of all facts relating to a company`s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. In connection with responding to our comments, please provide, in writing, a statement from the company acknowledging that: * the company is responsible for the adequacy and accuracy of the disclosure in the filing; * staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and * the company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. In addition, please be advised that the Division of Enforcement has access to all information you provide to the staff of the Division of Corporation Finance in our review of your filing or in response to our comments on your filing. You may contact Eric Atallah, Staff Accountant at (202) 551- 3663 or me at (202) 551-3554 regarding comments on the financial statements and related matters. In this regard, do not hesitate to contact Martin James, Senior Assistant Chief Accountant, at (202) 551-3671 with any other questions. Sincerely, Angela Crane Branch Chief ?? ?? ?? ?? Mr. Ronald S. Stowell LSI Industries, Inc. Page 3 -----END PRIVACY-ENHANCED MESSAGE-----