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Mar 31, 2022
LSI Q3 2022 Earnings Report
LSI Industries experienced substantial growth in Q3 2022, driven by increased demand and strategic acquisitions.
Key Takeaways
LSI Industries reported a strong fiscal third quarter with a 53% increase in net sales and a 146% increase in net income compared to the prior year. The company benefited from broad-based commercial demand, increased price realization, and contributions from the JSI Store Fixtures acquisition.
Net sales increased by 53% year-over-year to $110.1 million, with organic net sales up 12%.
Lighting sales grew by 25% year-over-year, while Display Solutions sales increased by 100%.
Net income rose by 146% year-over-year to $3.6 million, resulting in earnings of $0.13 per diluted share.
Adjusted EBITDA increased by 92% year-over-year to $8.5 million.
LSI
LSI
LSI Revenue by Segment
Revenue by Segment
Lighting Segment Revenue
CapyFin.comDisplay Solutions Revenue
CapyFin.com Forward Guidance
LSI's business is in a strong position as they look to the fourth quarter and year ahead. Third quarter order rate was strong, achieving a book-to-bill ratio over 1.0. As a result, their backlog entering the fiscal fourth quarter increased sequentially from the third quarter, while being significantly above prior year levels. Market indicators remain favorable and quote levels remain at a high level.
Positive Outlook
- Third quarter order rate was strong, achieving a book-to-bill ratio over 1.0.
- Backlog entering the fiscal fourth quarter increased sequentially from the third quarter.
- Backlog is significantly above prior year levels.
- Market indicators remain favorable.
- Quote levels remain at a high level.
Revenue & Expenses
Visualization of income flow from segment revenue to net income