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Mar 31, 2020
LSI Q3 2020 Earnings Report
LSI Industries reported improved profitability due to shift to higher margin sales mix and structural reductions in operating expenses.
Key Takeaways
LSI Industries Inc. reported net income of $1.9 million, or $0.07 per diluted share, in the fiscal third quarter, versus a net loss of ($3.2) million or ($0.12) per diluted share in the prior-year period. Sales of $71.0 million reflects shift to higher margin sales mix.
Sales of $71.0 million reflects shift to higher margin sales mix
EPS of $0.07 versus ($0.12) prior year
Net Income $1.9 million compared to Net Loss of ($3.2) million last year
Free Cash Flow of $3.5 million
LSI
LSI
Forward Guidance
Looking forward, it is not yet possible to gauge the full impact of the situation on our markets and our company, given the uncertain duration of this challenge. Our internal task force remains focused on three main areas: Employee safety, customer service and support and cost-effective business continuity.
Positive Outlook
- We remain fully operational at all manufacturing facilities and practice safe engagement with our customers, agents and suppliers.
- We enter this current challenge with a strong balance sheet, solid liquidity and a strong management team.
- We also have additional plans to reduce operating costs.
- Our actions have positioned LSI to confront the pandemic-related volatility in the market, while providing the ability to invest strategically as we look ahead to the next phase of growth.
- We will continue to collaborate closely with our partners and customers as we navigate the current environment and assess opportunities.
Challenges Ahead
- it is not yet possible to gauge the full impact of the situation on our markets and our company, given the uncertain duration of this challenge.