-----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, Liy66EBrJeu0N1vAA22Jz6QBndZ3IclxxvKrxTXGM3Q6YN667etxgKw+1Gu04Ud5 Fpk02isnOIoRMQbCBB1dOA== 0000950152-98-004141.txt : 19980507 0000950152-98-004141.hdr.sgml : 19980507 ACCESSION NUMBER: 0000950152-98-004141 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19980331 FILED AS OF DATE: 19980506 SROS: NONE FILER: 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: 10-Q SEC ACT: SEC FILE NUMBER: 000-13375 FILM NUMBER: 98611692 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 10-Q 1 LSI INDUSTRIES, INC. 10-Q 1 FORM 10-Q --------- SECURITIES AND EXCHANGE COMMISSION ---------------------------------- WASHINGTON, D.C. 20549 ---------------------- X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES - ----- EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998. TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE - ----- SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________________ TO ________________. Commission File No. 0-13375 LSI Industries Inc. State of Incorporation - Ohio IRS Employer I.D. No. 31-0888951 10000 Alliance Road Cincinnati, Ohio 45242 (513) 793-3200 Indicate by checkmark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months, and (2) has been subject to such filing requirements for the past 90 days. YES X NO ----- ----- Common Shares, no par value. Shares outstanding at April 30, 1998: 9,605,037 2 LSI INDUSTRIES INC. ------------------- FORM 10-Q --------- FOR THE QUARTER ENDED MARCH 31, 1998 ------------------------------------ INDEX -----
Begins on Page ---- PART I. Financial Information ITEM 1. Financial Statements -------------------- Consolidated Income Statements.................... 3 Consolidated Balance Sheets....................... 4 Consolidated Statements of Cash Flows............. 5 Notes to Financial Statements..................... 6 ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations................................... 9 PART II. Other Information ITEM 2. Change in Securities.............................. 12 ITEM 6. Exhibits and Reports on Form 8-K.................. 12 Signatures .................................................. 13
Page 2 3 PART I. FINANCIAL INFORMATION ----------------------------- ITEM 1. FINANCIAL STATEMENTS - ----------------------------- LSI INDUSTRIES INC. CONSOLIDATED INCOME STATEMENTS (Unaudited)
Three Months Ended Nine Months Ended March 31 March 31 ------------------------- ------------------------- (in thousands, except per 1998 1997 1998 1997 share data; unaudited) --------- --------- --------- --------- Net sales $ 43,386 $ 30,836 $ 135,097 $ 105,260 Cost of products sold 29,669 20,823 88,741 69,849 --------- --------- --------- --------- Gross profit 13,717 10,013 46,356 35,411 Selling and administrative expenses 10,579 7,996 32,561 25,823 --------- --------- --------- --------- Operating income 3,138 2,017 13,795 9,588 Interest expense 34 31 86 85 Interest (income) (40) (125) (72) (426) Other expense 46 64 66 90 --------- --------- --------- --------- Income before income taxes 3,098 2,047 13,715 9,839 Income tax expense 1,181 778 5,143 3,716 --------- --------- --------- --------- Net income $ 1,917 $ 1,269 $ 8,572 $ 6,123 ========= ========= ========= ========= Earnings per common share Basic $ .20 $ .14 $ .90 $ .68 ========= ========= ========= ========= Diluted $ .20 $ .14 $ .88 $ .67 ========= ========= ========= =========
The accompanying Notes to Financial Statements are an integral part of these financial statements. Page 3 4 LSI INDUSTRIES INC. CONSOLIDATED BALANCE SHEETS (Unaudited)
(In thousands, except share amounts) March 31, June 30, 1998 1997 --------- -------- ASSETS - ------ Current Assets Cash and cash equivalents $ 3,238 $ 2,612 Accounts receivable 28,314 27,412 Inventories 26,371 23,058 Other current assets 1,738 1,770 -------- -------- Total current assets 59,661 54,852 Property, plant and equipment, net 28,202 27,145 Goodwill and other assets 13,133 13,192 -------- -------- $100,996 $ 95,189 ======== ======== LIABILITIES & SHAREHOLDERS' EQUITY - ---------------------------------- Current Liabilities Current maturities of long-term debt $ 190 $ 187 Accounts payable 10,762 12,337 Accrued expenses 12,720 12,136 -------- -------- Total current liabilities 23,672 24,660 Long-Term Debt 1,036 1,195 Other Long-Term Liabilities 1,515 1,366 Shareholders' Equity Preferred shares, without par value; Authorized 1,000,000 shares; none issued -- -- Common shares, without par value; Authorized 30,000,000 shares; Outstanding 9,570,510 and 9,499,231 shares, respectively 34,897 34,516 Retained earnings 39,876 33,452 -------- -------- Total shareholders' equity 74,773 67,968 -------- -------- $100,996 $ 95,189 ======== ========
The accompanying Notes to Financial Statements are an integral part of these financial statements. Page 4 5 LSI INDUSTRIES INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In thousands) Nine Months Ended March 31 ----------------------- 1998 1997 -------- -------- Cash Flows from Operating Activities Net income $ 8,572 $ 6,123 Non-cash items included in income Depreciation and amortization 3,166 2,163 Deferred income taxes 90 90 Loss on disposition of fixed assets 66 61 Changes in operating assets and liabilities Accounts receivable (456) 3,420 Inventories (2,982) (1,135) Accounts payable and other (1,395) (4,129) Change in liability for discontinued operations (9) (3) -------- -------- Net cash flows from operating activities 7,052 6,590 -------- -------- Cash Flows from Investing Activities Purchase of property, plant and equipment (3,403) (1,845) Proceeds from sale of fixed assets 11 -- Acquisition of business, net of cash received (712) -- -------- -------- Net cash flows from investing activities (4,104) (1,845) -------- -------- Cash Flows from Financing Activities Increase in notes payable to bank -- 130 Payment of long-term debt (417) (149) Cash dividends paid (2,148) (1,624) Deferred compensation plan 42 (85) Proceeds from issuance of common shares 201 151 -------- -------- Net cash flows from financing activities (2,322) (1,577) -------- -------- Increase in cash and cash equivalents 626 3,168 Cash and cash equivalents at beginning of year 2,612 11,138 -------- -------- Cash and cash equivalents at end of period $ 3,238 $ 14,306 ======== ======== Supplemental Cash Flow Information Interest paid $ 112 $ 94 Income taxes paid $ 6,204 $ 3,605
The accompanying Notes to Financial Statements are an integral part of these financial statements. Page 5 6 LSI INDUSTRIES INC. NOTES TO FINANCIAL STATEMENTS (Unaudited) NOTE 1: INTERIM FINANCIAL STATEMENTS The interim financial statements are unaudited and are prepared in accordance with rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of Management, the interim financial statements include all normal adjustments and disclosures necessary to present fairly the Company's financial position as of March 31, 1998, and the results of its operations and its cash flows for the periods ended March 31, 1998 and 1997. These statements should be read in conjunction with the financial statements and footnotes included in the fiscal 1997 annual report. NOTE 2: RECENT PRONOUNCEMENTS In June 1997, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 130 (SFAS No. 130), "Reporting Comprehensive Income," which establishes standards for reporting and display of comprehensive income and its components (revenues, expenses, gains, and losses) in a full set of general-purpose financial statements. SFAS No. 130 is effective for financial statements for annual periods beginning after December 15, 1997 (fiscal 1999 for the Company). The Company does not expect adoption to have a significant impact on its financial statements. NOTE 3: EARNINGS PER COMMON SHARE In February 1997, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 128 (SFAS No. 128), "Earnings Per Share," which requires the presentation of basic and diluted earnings per share on the face of the income statement for all entities with complex capital structures and requires a reconciliation of both the numerator and denominator of the basic and dilutive earnings per share computations. The Company adopted SFAS No. 128 effective with the second quarter of fiscal year 1998. All prior period earnings per share have been restated for the new disclosure. The following table presents the amounts used to compute earnings per common share and the effect of dilutive potential common shares on net income and weighted average shares outstanding: Page 6 7 NOTE 3: EARNINGS PER COMMON SHARE (continued)
Three Months Ended Nine Months Ended March 31 March 31 ------------------ ----------------- 1998 1997 1998 1997 ------ ------ ------ ------ BASIC EARNINGS PER SHARE - ------------------------ Net Income $1,917 $1,269 $8,572 $6,123 ====== ====== ====== ====== Weighted Average Shares Outstanding Weighted average shares outstanding during the period, net of treasury shares 9,557 9,016 9,541 9,009 ====== ====== ====== ====== Basic Earnings per Share $ .20 $ .14 $ .90 $ .68 ====== ====== ====== ====== DILUTED EARNINGS PER SHARE - -------------------------- Net Income $1,917 $1,269 $8,572 $6,123 ====== ====== ====== ====== Weighted Average Shares Outstanding Weighted average shares outstanding during the period, net of treasury shares 9,557 9,016 9,541 9,009 Effect of Dilutive Securities: Common Shares to be issued under stock option plans and a deferred compensation plan 255 166 220 194 ------ ------ ------ ------ Average Shares Outstanding 9,812 9,182 9,761 9,203 ====== ====== ====== ====== Diluted Earnings per Share $ .20 $ .14 $ .88 $ .67 ====== ====== ====== ====== [see (A) and (B) below]
(A) Calculated using the "Treasury Stock" method as if options were exercised and the funds were used to purchase Common Shares at the average market price during the period. (B) Options to purchase 500 common shares and 14,300 common shares during the quarters ended March 31, 1998 and 1997, respectively, and 2,361 common shares and 15,745 common shares during the nine month periods ended March 31, 1998 and 1997, respectively, were not included in the computation of diluted earnings per share because the exercise price was greater than the average fair market value of the common shares. Page 7 8 NOTE 4: INVENTORIES Inventories consist of the following (in thousands):
March 31, 1998 June 30, 1997 -------------- ------------- Raw Materials $15,279 $10,272 Work-in-Process and Finished Goods 11,092 12,786 ------- ------- $26,371 $23,058 ======= =======
NOTE 5: CASH DIVIDENDS The Company paid cash dividends of $2,148,000 and $1,624,000 in the nine month periods ended March 31, 1998 and 1997, respectively. In April, 1998, the Company's Board of Directors declared a $.0625 per share regular quarterly cash dividend ($600,000) payable on May 19, 1998 to shareholders of record May 12, 1998. NOTE 6: SHAREHOLDERS' EQUITY The Company has a non-qualified Deferred Compensation Plan and a certain portion of the Plan investments are in common shares of the Company. As of March 31, 1998 a total of 32,541 common shares at a cost of $440,100 were held in the Plan, and, accordingly, have been recorded as treasury shares. NOTE 7: ACQUISITION The Company acquired the outstanding common stock of Marcole Industries, Inc. on February 6, 1998 as well as the building and real estate in Manchester, Tennessee from which Marcole will continue to operate. Total purchase price was approximately $912,000, which includes 12,000 common shares (valued at approximately $200,000) of LSI Industries. For financial statement purposes the acquisition was accounted for as a purchase, effective on the date of acquisition. The new subsidiary, LSI Marcole Inc., is a manufacturer of electrical wire harnesses for the appliance and white goods industry. The purchase price exceeded the estimated fair value of net assets acquired by $210,000, which is being amortized over forty years. The allocation was based on preliminary estimates and may be revised at a later date pending the completion of certain analysis. Page 8 9 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS - -------------------------------------------------------------------------------- OF OPERATIONS ------------- NET SALES BY BUSINESS SEGMENT (In thousands, unaudited)
Three Months Ended Nine Months Ended March 31 March 31 ---------------------- ----------------------- 1997 1996 1997 1996 -------- -------- -------- -------- Image Group $ 32,313 $ 22,461 $ 99,146 $ 73,597 Commercial / Industrial Lighting Group 11,073 8,375 35,951 31,663 -------- -------- -------- -------- $ 43,386 $ 30,836 $135,097 $105,260 ======== ======== ======== ========
RESULTS OF OPERATIONS THREE MONTHS ENDED MARCH 31, 1998 COMPARED WITH THREE MONTHS ENDED MARCH 31, 1997 Net sales of $43,386,000 in the third quarter of 1998 increased 41% over third quarter net sales last year of $30,836,000. Quarterly results of the Image Group in fiscal 1998 include the operations of the Company's new graphics subsidiary, Grady McCauley, which was acquired June 30, 1997, and results of the Commercial / Industrial Lighting Group include the operations of the Company's newest subsidiary, LSI Marcole, which was acquired February 6, 1998. Image Group net sales increased 44% and Commercial / Industrial Lighting Group net sales increased 32% in the fiscal 1998 third quarter as compared to the prior year. The increase in Image Group sales is attributed to growth in substantially all markets and products, particularly graphics, petroleum lighting, and quick service restaurant, as well as to the inclusion of Grady McCauley in the operating results in fiscal 1998. Net sales of the Image Group to the petroleum / convenience store market represented 50% and 53% of net sales in the third quarters of fiscal 1998 and fiscal 1997, respectively. While sales prices were increased, inflation did not have a significant impact on sales in 1998 as competitive pricing pressures held price increases to a minimum. Gross profit of $13,717,000 increased 37% over last year's gross profit of $10,013,000, but decreased as a percentage of net sales to 31.6% in the third quarter of fiscal year 1998 as compared to 32.5% in the same period last year. The increase in amount of gross profit is due primarily to the 41% increase in net sales. The decrease in gross profit percentage is related to the net effect of changes in lighting product mix to higher margin products, to improved manufacturing operating efficiencies in the Company's lighting business, to incremental business taken at lower margins, and to reduced margins in the graphics business related to program mix and under-utilized capacity. Selling and administrative expenses increased to $10,579,000 from $7,996,000 primarily as a result of increased sales volume and the addition of Grady McCauley. As a percentage of net sales, selling and administrative expenses were at 24.4% in the third quarter of fiscal 1998 as compared to 25.9% in the same period last year. Page 9 10 The Company reported net interest income of $6,000 in the third quarter of fiscal 1998 as compared to net interest income of $94,000 in the third quarter of fiscal 1997 reflective of the significantly reduced amount of short-term cash investments during the quarter. Cash which had been invested was used at the end of fiscal 1997 for the acquisition of Grady McCauley. The Company's effective tax rate was 38.1% in the third quarter of fiscal 1998 as compared to 38.0% in the third quarter of fiscal 1997. Net income of $1,917,000 increased 51% over $1,269,000 in the third quarter of fiscal 1997. The increased net income resulted from increased gross profit on higher net sales, partially offset by increased operating expenses, increased income taxes, and from the reporting of a larger amount of net interest income in fiscal 1997 as compared to 1998. Diluted earnings per share in the third quarter of fiscal 1998 of $.20 compares to $.14 per share in the same period in fiscal 1997. The weighted average common shares outstanding for purposes of computing diluted earnings per share increased 7% in 1998 to 9,812,000 shares from 9,182,000 shares in 1997 primarily as a result the common shares used in the acquisition of Grady McCauley in June 1997. Certain recently issued accounting pronouncements will affect the Company's future financial statements and / or disclosures. See Note 2 to these financial statements for additional discussion. NINE MONTHS ENDED MARCH 31, 1998 COMPARED WITH NINE MONTHS ENDED MARCH 31, 1997 Net sales of $135,097,000 in the first nine months of 1998 increased 28% over net sales of $105,260,000 in the same period last year. Results of the Image Group in fiscal 1998 include the operations of the Company's new graphics subsidiary, Grady McCauley, which was acquired June 30, 1997, and results of the Commercial / Industrial Lighting Group include the operations of the Company's newest subsidiary, LSI Marcole, which was acquired February 6, 1998. Image Group net sales increased 35% and Commercial / Industrial Lighting Group net sales increased 14% in the first nine months of fiscal 1998 as compared to the prior year. The increase in Image Group sales is attributed to growth in graphics, petroleum lighting, and quick service restaurant, as well as to the inclusion of Grady McCauley in the operating results in fiscal 1998. Net sales of the Image Group to the petroleum / convenience store market represented 48% and 49% of net sales in the first nine months of fiscal 1998 and fiscal 1997, respectively. While sales prices were increased, inflation did not have a significant impact on sales in 1998 as competitive pricing pressures held price increases to a minimum. Gross profit of $46,356,000 increased 31% over last year's gross profit of $35,411,000, and increased as a percentage of net sales to 34.3% in the first nine months of fiscal year 1998 as compared to 33.6% in the same period last year. The increase in gross profit is due primarily to the 28% increase in net sales, to changes in lighting product mix to higher margin products, and to improved manufacturing operating efficiencies in the Company's lighting business, and to reduced margins in the graphics business related to program mix and under-utilized capacity. The Company's graphics operations reported improved gross profit percentage with increased sales volume and the addition of Grady McCauley. Selling and administrative expenses increased to $32,561,000 from $25,823,000 primarily as a result of increased sales volume and the addition of Grady McCauley. As a percentage of net sales, Page 10 11 selling and administrative expenses were at 24.1% in the first nine months of fiscal 1998 as compared to 24.5% in the same period last year. The Company reported net interest expense of $14,000 in the first nine months of fiscal 1998 as compared to net interest income of $341,000 in the first nine months of fiscal 1997 reflective of the significantly reduced amount of short-term cash investments during the period. Cash which had been invested was used at the end of fiscal 1997 for the acquisition of Grady McCauley. The Company's effective tax rate was 37.5% in the nine months of fiscal 1998 as compared to 37.8% in the same period last year. Net income of $8,572,000 in the first nine months of FY 1998 increased 40% over $6,123,000 in the same period last year. The increased net income resulted from increased gross profit on higher net sales, partially offset by increased operating expenses, increased income taxes, and from the reporting of net interest income in fiscal 1997 as compared to net interest expense in 1998. Diluted earnings per share in the first nine months of fiscal 1998 of $.88 compares to $.67 per share in the same period in fiscal 1997. The weighted average common shares outstanding for purposes of computing diluted earnings per share increased 6% in 1998 to 9,761,000 shares from 9,203,000 shares in 1997 primarily as a result the common shares used in the acquisition of Grady McCauley in June 1997. Certain recently issued accounting pronouncements will affect the Company's future financial statements and / or disclosures. See Note 2 to these financial statements for additional discussion. LIQUIDITY AND CAPITAL RESOURCES At March 31, 1998 the Company had working capital of $36.0 million, compared to $30.2 million at June 30, 1997. The ratio of current assets to current liabilities increased to 2.52 to 1 from 2.22 to 1. The increased working capital is primarily attributed to increased inventories, cash, and accounts receivable, and reduced accounts payable, partially offset by increased accrued expenses. The Company generated $7.1 million of cash from operating activities in the first nine months of fiscal 1998 as compared to $6.6 million of cash generated from operating activities in the same period last year. The Company generated more cash in the first nine months of fiscal 1998 primarily due to increased net income, and increased depreciation and amortization expenses. Additionally, significant increases in inventories and accounts receivable in fiscal 1998 compared to either reductions or lesser increases in fiscal 1997, and a significantly larger fiscal 1997 decrease in accounts payable and accrued expenses contributed to the change between years in net cash flows from operating activities. As of March 31, 1998, the Company's days sales outstanding were at approximately 56 days as compared to 64 days at June 30, 1997. In addition to cash generated from operations, the Company's primary source of liquidity continues to be its lines of credit. The Company has two revolving lines of credit totaling $24 million, all of which was available as of April 30, 1998. The Company believes that the total of available lines of credit plus cash flows from operating activities is adequate for the Company's 1998-1999 operational and capital expenditure needs. The Company is in compliance with all of Page 11 12 its loan covenants. Capital expenditures of $3.4 million in the first nine months of fiscal 1998 compare to $1.8 million in the same period last year. Spending in fiscal year 1998 is primarily related to tooling for new products and to expansion of certain of the Company's graphics operations. Capital expenditures totaling approximately $4.5 million are planned for full year fiscal 1998. In April 1998, the Board of Directors declared a regular quarterly cash dividend of $.0625 per share ($600,000) to be paid May 19, 1998 to shareholders of record on May 12, 1998. The Company has completed preliminary reviews of its business systems, office support systems, and its facilities and equipment with respect to year 2000 programming deficiencies. The review is also extending to major suppliers and customers. The Company currently does not anticipate material costs to be incurred to detect, modify, or replace any affected systems. The Company anticipates completion of this process prior to June 30, 1999. The Company acquired the outstanding common stock of Marcole Industries, Inc. on February 6, 1998 as well as the building and real estate in Manchester, Tennessee from which Marcole will continue to operate. Total purchase price was approximately $912,000, which includes 12,000 common shares (valued at approximately $200,000) of LSI Industries. For financial statement purposes the acquisition was accounted for as a purchase, effective on the date of acquisition. The new subsidiary, LSI Marcole Inc., is a manufacturer of electrical wire harnesses for the appliance and white goods industry. The purchase price exceeded the estimated fair value of net assets acquired by $210,000, which is being amortized over forty years. The allocation was based on preliminary estimates and may be revised at a later date pending the completion of certain analysis. The Company continues to seek opportunities to invest in new products and markets, and in acquisitions which fit its strategic growth plans in the lighting and graphics markets. The Company believes that adequate financing for any such investments or acquisitions will be available through future borrowings or through the issuance of common or preferred shares in payment for acquired businesses. PART II. OTHER INFORMATION -------------------------- ITEM 2. CHANGE IN SECURITIES - ----------------------------- c) During the quarterly period ended March 31, 1998, the Company issued 12,000 Common Shares to one of the owners of a company which was acquired. This issuance was exempt from the registration requirements of the Securities Act of 1933 as a private offering pursuant to Section 4.2 of that Act. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - ----------------------------------------- a) Exhibits 27 Financial Data Schedule Page 12 13 b) Reports on Form 8-K No reports on Form 8-K were filed during the quarter for which this Report is filed. [All other items required in Part II have been omitted because they are not applicable or are not required.] SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LSI Industries Inc. ------------------- BY: /s/ Robert J. Ready ------------------------------------- Robert J. Ready President and Chief Executive Officer (Principal Executive Officer) BY: /s/ Ronald S. Stowell ------------------------------------- Ronald S. Stowell Vice President, Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer) May 5, 1998 Page 13 EX-27.1 2 EXHIBIT 27.1
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FORM 10-Q FILED FOR THE PERIOD ENDED MARCH 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 0000763532 LSI INDUSTRIES INC. 1,000 9-MOS JUN-30-1998 JUL-01-1997 MAR-31-1998 3,238 0 28,897 (583) 26,371 59,661 44,457 (16,255) 100,996 23,672 1,036 0 0 34,897 39,876 100,996 135,097 135,097 88,741 32,561 (6) 0 86 13,715 5,143 8,572 0 0 0 8,562 0.90 0.88
EX-27.2 3 EXHIBIT 27.2
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 0000763532 LSI INDUSTRIES INC. 1,000 9-MOS JUN-30-1997 JAN-01-1997 MAR-31-1997 14,306 0 21,847 (442) 20,795 58,345 32,823 (12,845) 79,626 17,141 1,226 0 0 27,995 31,154 79,626 105,260 105,260 69,849 25,823 90 0 (341) 9,839 3,716 6,123 0 0 0 6,123 0.68 0.67
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