LSI Industries Q1 FY25 Results Filed
Ticker: LYTS · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 763532
| Field | Detail |
|---|---|
| Company | Lsi Industries Inc (LYTS) |
| Form Type | 10-Q |
| Filed Date | Nov 8, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
LSI Industries filed its Q1 FY25 10-Q. Check financials.
AI Summary
LSI Industries Inc. reported its first quarter results for fiscal year 2025, ending September 30, 2024. The company's financial performance for this period is detailed in its 10-Q filing. Specific financial figures and operational highlights for the quarter are available within the document.
Why It Matters
This filing provides investors with the latest financial performance data for LSI Industries, crucial for understanding the company's current operational health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks or opportunities impacting the company's valuation.
Key Players & Entities
- LSI INDUSTRIES INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241108 (date) — Filing Date
- OH (location) — State of Incorporation
- CINCINNATI (location) — City
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the filing covers the first quarter of fiscal year 2025.
When was this 10-Q filing submitted to the SEC?
The filing was made on 20241108.
What is LSI Industries Inc.'s Standard Industrial Classification code?
The SIC code is 3640, which corresponds to Electric Lighting & Wiring Equipment.
In which state is LSI Industries Inc. incorporated?
LSI Industries Inc. is incorporated in Ohio (OH).
What was the company's former name?
The company's former name was LSI LIGHTING SYSTEMS INC, with a date of name change on 19891121.
Filing Stats: 4,394 words · 18 min read · ~15 pages · Grade level 18 · Accepted 2024-11-08 16:06:01
Filing Documents
- lyts20240930_10q.htm (10-Q) — 1351KB
- ex_742876.htm (EX-10.1) — 41KB
- ex_742877.htm (EX-10.2) — 27KB
- ex_741989.htm (EX-31.1) — 8KB
- ex_741988.htm (EX-31.2) — 9KB
- ex_741987.htm (EX-32.1) — 6KB
- ex_741986.htm (EX-32.2) — 6KB
- lsi.jpg (GRAPHIC) — 11KB
- 0001437749-24-034202.txt ( ) — 7458KB
- lyts-20240930.xsd (EX-101.SCH) — 63KB
- lyts-20240930_cal.xml (EX-101.CAL) — 69KB
- lyts-20240930_def.xml (EX-101.DEF) — 430KB
- lyts-20240930_lab.xml (EX-101.LAB) — 364KB
- lyts-20240930_pre.xml (EX-101.PRE) — 464KB
- lyts20240930_10q_htm.xml (XML) — 1334KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 3
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS 3 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 3 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 4 CONDENSED CONSOLIDATED BALANCE SHEETS 5 CONDENSED CONSOLIDATED BALANCE SHEETS 6 CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY 7 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 8 NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 9
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 23
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 29
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 29
OTHER INFORMATION
PART II. OTHER INFORMATION 30
OTHER INFORMATION
ITEM 5. OTHER INFORMATION 30
EXHIBITS
ITEM 6. EXHIBITS 30
SIGNATURES
SIGNATURES 31 Page 2
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS LSI INDUSTRIES INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended September 30 2024 2023 Net sales $ 138,095 $ 123,441 Cost of products and services sold 104,448 86,852 Gross profit 33,647 36,589 Selling and administrative expenses 24,516 25,561 Operating income 9,131 11,028 Interest expense 875 566 Other (income)/expense ( 61 ) 96 Income before income taxes 8,317 10,366 Income tax expense 1,635 2,338 Net income $ 6,682 $ 8,028 Earnings per common share (see Note 5) Basic $ 0.23 $ 0.28 Diluted $ 0.22 $ 0.27 Weighted average common shares outstanding Basic 29,593 28,757 Diluted 30,530 29,955 The accompanying Notes to Condensed Consolidated Financial Statements are an integral part of these financial statements. Page 3 LSI INDUSTRIES INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In thousands) Three Months Ended September 30 2024 2023 Net income $ 6,682 $ 8,028 Foreign currency translation adjustment ( 109 ) ( 56 ) Comprehensive income $ 6,573 $ 7,972 The accompanying Notes to Condensed Consolidated Financial Statements are an integral part of these financial statements. Page 4 LSI INDUSTRIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except shares) September 30, June 30, 2024 2024 ASSETS Current assets Cash and cash equivalents $ 6,969 $ 4,110 Accounts receivable, less allowance for credit losses of $ 860 and $ 848 , respectively 80,738 78,626 Inventories 71,262 70,913 Refundable income tax 2,404 3,197 Other current assets 5,517 5,653 Total current assets 166,890 162,499 Property, plant and equipment, at cost Land 4,010 4,010 Buildings 24,757 24,757 Machinery and equipment 75,433 74,204 Buildings under finance leases 2