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LSI INDUSTRIES INC. OPERATING RESULTS AND PLANT CONSOLIDATIONS; PERIODS ENDED DEC. 31, 1991

 LSI INDUSTRIES INC. OPERATING RESULTS AND PLANT CONSOLIDATIONS;
 PERIODS ENDED DEC. 31, 1991
 CINCINNATI, Jan. 21 /PRNewswire/ -- Robert J. Ready, president of LSI Industries Inc. (NASDAQ: LYTS) today reported operating results for the periods ended Dec. 31, 1991, as follows:
 Three Months Ended
 December 31
 1991 1990
 (Amounts in Thousands, except per share)
 Net Sales $21,787 $23,010
 Cost of products sold 15,303 15,806
 Selling and administrative expenses 5,582 6,116
 Restructuring costs 1,280 ---
 Operating (loss) income (378) 1,088
 Other expenses (285) (336)
 Income Taxes (135) (294)
 Net (loss) income $(798) $ 458
 Net (loss) income per common share $ (.17) $ .10
 Average shares outstanding 4,678 4,678
 Six Months Ended
 December 31
 1991 1990
 (Amounts in Thousands, except per share)
 Net Sales $42,311 $42,993
 Cost of products sold 29,231 30,248
 Selling and administrative expenses 11,236 12,214
 Restructuring costs 1,280 ---
 Operating (loss) income 564 531
 Other expenses (524) (647)
 Income Taxes (467) (126)
 Net (loss) income $(427) $(242)
 Net (loss) income per common share $(.09) $(.05)
 Average shares outstanding 4,678 4,678
 Due to the continued recession in its petroleum graphic markets, LSI is consolidating its two Duramark Ltd. (U.K.) graphics operations into one facility, and is also consolidating its three SGI Integrated Graphic Systems (Houston) operations into two facilities. These consolidations will improve efficiency and reduce costs while not decreasing LSI's ability to serve its graphics customers. The Insight Graphics Systems operations in Cincinnati, which are operating at a substantially higher level than last year, and LSI's three lighting operations are not affected by these consolidations.
 The company has recorded restructuring costs of $1,280,000 as of Dec. 31, 1991 (with a net of tax impact of $1,036,000, or $.22 loss per share) to reflect the anticipated costs of these facility consolidations and related personnel reductions. The annualized cost savings from these consolidations and personnel reductions is estimated to be $1.4 million before income taxes.
 Net income before the impact of the restructuring charges was $238,000 and $609,000 for the three and six months ended Dec. 31, 1991, or $.05 and $.13 per share, respectively.
 Domestic operations have been profitable despite the recessionary U.S. conditions that continue to depress sales and margin levels. The U.S. operations had net profits of $632,000 and $1,182,000 for the three and six month periods ended Dec. 31, 1991, or $.13 and $.25 per share, respectively. These figures exclude the impact of restructuring costs.
 LSI's U.K. operation, Duramark Ltd., continued to experience losses from low sales volume and margins due to the U.K. recession. Duramark had net losses of ($394,000) and ($573,000) for the three and six months periods ended Dec. 31, 1991, or ($.08) and ($.12) per share, respectively. These operating figures also exclude restructuring costs. The Duramark operating losses and the U.K. portion of the restructuring costs do not reflect the benefit of income tax credits as the U.K. operations have loss carry forwards for which no current tax benefit can be recorded.
 LSI designs, engineers, manufactures and markets a wide range of high-quality lighting fixtures and graphic products. The company serves three markets -- the petroleum/convenience store market; the multi-site retail market (including fast-food restaurants and auto dealerships); and the commercial/industrial lighting markets. The company's common shares are traded on the NASDAQ National Market System under the symbol LYTS.
 -0- 1/21/92
 /CONTACT: Bob Ready or Jim Cox, 513-793-3200, both of LSI Industries/
 (LYTS) CO: LSI Industries, Inc. ST: Ohio IN: REA SU: ERN


LC -- CL021 -- 2123 01/21/92 17:36 EST
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Date:Jan 21, 1992
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