Loading...
•
Dec 31, 2020
LSI Q2 2021 Earnings Report
LSI Industries experienced improved year-over-year growth in profitability, driven by a higher margin sales mix in both Graphics and Lighting segments, which offset adverse market conditions from the COVID-19 pandemic.
Key Takeaways
LSI Industries reported net income of $2.2 million, or $0.08 per diluted share, for the fiscal second quarter, compared to $1.7 million, or $0.07 per diluted share, in the prior year period. The company generated free cash flow of $5.3 million and had no long-term debt.
Net Income of $2.2 million, 27% above prior year
Adjusted Net Income of $2.5 million, 47% above prior year
EPS of $0.08 versus $0.07 prior year
Free cash flow of $5.3 million, no long-term debt
Revenue by Segment
Forward Guidance
The company expects project activity to improve in the coming months, although the timing of project release activity may remain uneven during this period.
Positive Outlook
- Expects that site installations for the digital solution project at a major QSR retailer will increase substantially during the second half of the fiscal year.
- Project quotation rates above prior year levels for the last several months.
- The pace of new product launch activity in Lighting continues to accelerate, as five new products were launched in the second quarter alone, along with several cost-down design programs and various feature and function enhancements.
- Looking forward, they expect to release a record number of new products in the second half of fiscal 2021.
- Investing in additional sales resources, intending to expand their sales team by approximately 10%.
Challenges Ahead
- Market conditions remain impacted by the pandemic.
- The quote-to-order conversion period has lengthened, a reflection of the challenges evident in developing construction plans and installation schedules during the pandemic.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...