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LSI INDUSTRIES INC. OPERATING RESULTS; YEAR ENDED JUNE 30, 1993 AND DIVIDEND DECLARED

 CINCINNATI, Aug. 25 /PRNewswire/ -- LSI Industries Inc. (NASDAQ: LYTS) today reported operating results for the fourth quarter and year ended June 30, 1993 as follows:
 Three Months Ended Year Ended
 June 30 June 30
 1993 1992 1993 1992
 Net sales $18,775 $17,210 $72,563 $69,182
 Cost of products sold 12,661 11,763 49,789 47,389
 Gross profit 6,114 5,447 22,774 21,793
 Selling and adminis-
 trative expenses 5,401 4,815 20,156 19,351
 Restructuring charges -- 1,450 -- 2,136
 Operating income(loss) 713 (818) 2,618 306
 Other (income) expense (400) 629 22 1,119
 Income (loss)before
 income taxes 1,113 (1,447) 2,596 (813)
 Income taxes 353 (538) 927 (282)
 Income (loss) from
 continuing operations 760 (909) 1,669 (531)
 Loss from discontinued
 operations -- (2,437) -- (4,262)
 Net income (loss) $ 760 $(3,346) $ 1,669 $(4,793)
 Net income (loss)
 per share:
 Continuing
 operations $.16 $(.19) $.36 $(.11)
 Discontinued
 operations -- (.52) -- (.91)
 Total $.16 $(.71) $.36 $(1.02)
 Average shares
 outstanding 4,693 4,678 4,689 4,678
 LSI Industries' 1993 net sales of $72,563,000 increased 5 percent over last year. Graphics sales led the improvement with an 11 percent increase in sales to $30,795,000 while lighting sales increased only 1 percent to $41,769,000. An increase in commercial lighting sales was offset by the continued softness in the company's core petroleum markets and by a continuation of strong competitive pricing in most markets. Net income of $1,669,000 increased significantly over last year primarily due to the absence of restructuring charges and loss from discontinued operations this year, to increased profitability in the graphics segment, and a fourth quarter gain from the sale of an asset. Net income per share from continuing operations in 1993 of $.36 compares favorably with a loss in 1992, after restructuring charges, of $(.11) per share, and to a loss of $(1.02) per share after consideration of the 1992 loss from discontinued operations.
 Net sales for the fourth quarter of $18,775,000 increased 9 percent over last year as a result of improvements in the graphics segment. Graphics sales increased 26 percent to $7,822,000 while lighting sales of $10,953,000 were level with fourth quarter sales last year.
 The LSI Industries board of directors today approved payment of the company's sixth annual dividend of $.05 (five cents) per share which will be paid Sept. 27, 1993 to shareholders of record on Sept. 7, 1993.
 LSI designs, manufactures and markets a wide range of high-quality lighting fixtures and graphic products. The company's major markets are the petroleum/convenience store market; the multi-site retail market (including fast-food restaurants and automobile dealerships); and the commercial/industrial lighting market. The company's common shares are traded on The Nasdaq Stock Market under the symbol LYTS.
 For information, contact either Bob Ready, president, or Ron Stowell, chief financial officer, at 513-793-3200.
 -0- 8/25/93
 /CONTACT: Bob Ready or Ron Stowell of LSI Industries Inc., 513-793-3200/
 (LYTS)


CO: LSI Industries Inc. ST: Ohio IN: CON SU: ERN

AR -- CL015 -- 5865 08/25/93 16:37 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
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