-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KMlGff3uk0CJBaa17w14Uu1//HM34T/cO++1R3Wly/XkNwc5vkjwiusmX6fizTEd
 dGvnbedUS8VCkZIdLQXH7w==

<SEC-DOCUMENT>0000892251-03-000453.txt : 20030827
<SEC-HEADER>0000892251-03-000453.hdr.sgml : 20030827
<ACCEPTANCE-DATETIME>20030827084017
ACCESSION NUMBER:		0000892251-03-000453
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030730
FILED AS OF DATE:		20030827

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STOWELL RONALD S
		CENTRAL INDEX KEY:			0001206598

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13375
		FILM NUMBER:		03867560

	BUSINESS ADDRESS:	
		STREET 1:		C/O LSI INDUSTRIES INC
		STREET 2:		10000 ALLIANCE ROAD
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45242
		BUSINESS PHONE:		5137433200

ISSUER:		

	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

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>stowell4a073003_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4/A</documentType>
   <periodOfReport>2003-07-30</periodOfReport>
   <dateOfOriginalSubmission>2003-07-30</dateOfOriginalSubmission>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000763532</issuerCik>
        <issuerName>LSI INDUSTRIES INC</issuerName>
        <issuerTradingSymbol>LYTS</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001206598</rptOwnerCik>
            <rptOwnerName>STOWELL RONALD S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LSI INDUSTRIES INC</rptOwnerStreet1>
            <rptOwnerStreet2>10000 ALLIANCE ROAD</rptOwnerStreet2>
            <rptOwnerCity>CINCINNATI</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>45242</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Vice President, CFO and Treasu</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Common Shares</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>31485</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Shares</value>
            <footnoteId id="F1"/>
      </securityTitle>
      <transactionDate>
         <value>2003-07-30</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>87</value>
            <footnoteId id="F2"/>
         </transactionShares>
         <transactionPricePerShare>
           <value>11.48</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>14896</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeHolding>
      <securityTitle>
         <value>Option to Buy</value>
            <footnoteId id="F3"/>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>10.09</value>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>1999-09-04</value>
            <footnoteId id="F4"/>
      </exerciseDate>
      <expirationDate>
         <value>2007-09-04</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Shares</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>15000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>15000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeHolding>
   <derivativeHolding>
      <securityTitle>
         <value>Option to Buy</value>
            <footnoteId id="F3"/>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>10.29</value>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>2001-07-03</value>
            <footnoteId id="F4"/>
      </exerciseDate>
      <expirationDate>
         <value>2010-07-03</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Shares</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>15000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>15000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeHolding>
   <derivativeHolding>
      <securityTitle>
         <value>Option to Buy</value>
            <footnoteId id="F3"/>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>14.60</value>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>2001-11-14</value>
            <footnoteId id="F5"/>
      </exerciseDate>
      <expirationDate>
         <value>2011-11-14</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Shares</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>15000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>15000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeHolding>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Common shares held in the LSI Industries Inc. Non-Qualified Deferred Compensation Plan</footnote>

      <footnote id="F2"> This Form 4 is being amended to show an additional 43 shares that had been purchased by the trustee of the Non-Qualified Deferred Compensation Plan. The amendment is a result of the failure of the plan trustee, Fifth Third Bank, to accurate indicate to Mr. Stowell the number of shares purchased on his behalf.</footnote>

      <footnote id="F3"> Options granted pursuant to the Company's Incentive Stock Option Plans. Option grants have been previously reported.</footnote>

      <footnote id="F4"> Options are exercisable at a rate of 25% per year beginning on the 2nd grant date anniversary, cumulative to the extent not exercised in a prior year.</footnote>

      <footnote id="F5"> Options are exercisable at a rate of 10% beginning on the 1st grant date anniversary, 28% on the 2nd anniversary date. 27% on the 3rd anniversary date, and 35% on the 4th anniversary date, cumulative to the extent not exercised in a prior year.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Ronald S. Stowell</signatureName>
      <signatureDate>2003-08-26</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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