LSI Industries Inc. Signs Contract for a Leading Grocery Chain Graphics
CINCINNATI, Nov. 19, 2012 (GLOBE NEWSWIRE) -- LSI Industries Inc.
(Nasdaq:LYTS) today: announced that it has been selected to supply and install
graphics products at over 700 stores for one of the nation's leading grocery
chains as part a re-imaging initiative.The contract is valued at
approximately $5.5 million, and the installation is expected to be completed
during LSI's fiscal 2013 third quarter.It is expected that all revenue will
be recorded during LSI's fiscal third quarter.LSI will utilize its
state-of-the-art, world-class graphics facilities to build the graphics
components, using a wide array of processes and materials.
Robert J. Ready, Chairman and Chief Executive Officer, commented, "LSI is
ideally suited for this project due to the short turnaround time required for
completion, the expanded geographic scope of the project, and the broad number
of graphics products and technologies that will be utilized."
David W. McCauley, President, LSI Graphics Solutions, commented, "This project
is in line with the resumption of demand that we are beginning to see in the
graphics industry.We expect to see a continuation of this trend throughout
fiscal 2013 and beyond as graphics customers realize the competitive benefits
of a fresh look and updated image."
About the Company
Leadership.Strength.Innovation.Those are the key values behind the smart
vision upon which LSI Industries Inc. was founded in 1976.Today LSI
demonstrates this in our dedication to advancing technology throughout all
aspects of our business – in both product solutions and production
techniques.We are committed to American innovation through technology.
We are a vertically integrated manufacturer who combines assimilated
technology, design and manufacturing to produce the most efficient, high
quality products possible.We are dedicated to advancing solid-state
technology to make affordable, high performance, energy efficient lighting and
custom graphic products that bring value to our customers.In addition, we can
provide sophisticated lighting and energy management control solutions to help
customers manage their energy performance.Further, we offer design support,
engineering, installation and project management for custom graphics rollout
programs for today's retail environment.
LSI is proud to be an American company with an American work force, building
an American product.We are a U.S. manufacturer with marketing / sales efforts
throughout the world with concentration currently on North America, Latin
America, Australia, New Zealand, Asia, Europe and the Middle East.Our major
markets include the commercial / industrial lighting, petroleum / convenience
store, multi-site retail (including automobile dealerships, restaurants and
national retail accounts), sports and entertainment markets.Headquartered in
Cincinnati, Ohio, LSI has facilities in Ohio, Kansas, Kentucky, New York,
North Carolina, Oregon, Rhode Island, Texas and Montreal, Canada.The
Company's common shares are traded on the NASDAQ Global Select Market under
the symbol LYTS.
As we redefine LSI Industries' place in the markets we serve, we will
emphasize our commitment to preserving the foundation of a well-managed,
financially strong and creatively unique company with even stronger emphasis
on a growing technology base.Through the Leadership, Strength and Innovation
that is core to our culture, we move forward continuing our transition to a
technology-reliant company with lighting and graphics and the ability to
provide the stronger performance our many partners expect.
The LSI Industries Inc. logo is available at
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
This document contains certain forward-looking statements that are subject to
numerous assumptions, risks or uncertainties.The Private Securities
Litigation Reform Act of 1995 provides a safe harbor for forward-looking
statements.Forward-looking statements may be identified by words such as
"estimates," "anticipates," "projects," "plans," "expects," "intends,"
"believes," "seeks," "may," "will," "should" or the negative versions of those
words and similar expressions, and by the context in which they are used.Such
statements, whether expressed or implied, are based upon current expectations
of the Company and speak only as of the date made.Actual results could differ
materially from those contained in or implied by such forward-looking
statements as a result of a variety of risks and uncertainties over which the
Company may have no control.These risks and uncertainties include, but are
not limited to, the impact of competitive products and services, product
demand and market acceptance risks, potential costs associated with litigation
and regulatory compliance, reliance on key customers, financial difficulties
experienced by customers, the cyclical and seasonal nature of our business,
the adequacy of reserves and allowances for doubtful accounts, fluctuations in
operating results or costs whether as a result of uncertainties inherent in
tax and accounting matters or otherwise, unexpected difficulties in
integrating acquired businesses, the ability to retain key employees of
acquired businesses, unfavorable economic and market conditions, and the
results of asset impairment assessments.You are cautioned to not place undue
reliance on these forward-looking statements.In addition to the factors
described in this paragraph, the risk factors identified in our Form 10-K and
other filings the Company may make with the SEC constitute risks and
uncertainties that may affect the financial performance of the Company and are
incorporated herein by reference.The Company does not undertake and hereby
disclaims any duty to update any forward-looking statements to reflect
subsequent events or circumstances.
For further information, contact either Bob Ready, Chief Executive Officer, or
Ron Stowell, Vice President, Chief Financial Officer, and Treasurer at (513)
Additional note:Today's news release, along with past releases from LSI
Industries, is available on the Company's internet site at
www.lsi-industries.com or by email or fax, by calling the Investor Relations
Department at (513) 793-3200.
CONTACT: BOB READY OR
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