LSI Industries Q4 Earnings Drop While Sales Increase

(RTTNews) - LSI Industries Inc. (LYTS) on Thursday reported net income of $198000, or $0.01 per share in the fourth quarter, down from $1.51 million, or $0.06 per share, in the prior year period. This year's fourth quarter results included $2.9 million or $0.08 per share expenses related to JSI acquisition.

Excluding items, earnings were $0.12 per share.

Sales for the quarter increased 53% to $97.02 million from $63.47 million last year.

The company declared cash dividend of $0.05 per share payable on September 7, 2021, to shareholders of record on August 30, 2021.

"We are well positioned entering fiscal 2022. The cross-selling opportunities between LSI and JSI are significant, creating a pathway for multi-year growth. These acquisition-related synergies, together with organic investments in sales, marketing, and new products, positions us to create substantial value for our customers, employees and investors," said James A. Clark, President and Chief Executive Officer.