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Jun 30, 2022
LSI Q4 2022 Earnings Report
LSI delivered record fourth quarter results driven by demand, price actions and manufacturing capabilities.
Key Takeaways
LSI Industries reported a 31% increase in net sales to a record $127.5 million for the fourth quarter of fiscal year 2022. Net income was $5.2 million, or $0.18 per diluted share, and free cash flow increased by 200% to $8.0 million.
Net sales increased by 31% year-over-year, reaching a record $127.5 million.
Net income was $5.2 million, with adjusted net income at $6.0 million.
Diluted EPS was $0.18, with adjusted EPS at $0.21 compared to $0.12 last year.
Free cash flow increased by 200% year-over-year to $8.0 million.
LSI
LSI
LSI Revenue by Segment
Revenue by Segment
Lighting Segment Revenue
CapyFin.comDisplay Solutions Revenue
CapyFin.com Forward Guidance
LSI is positioned for sustained growth entering fiscal 2023 and beyond, due to a solid backlog and benefits from recent investments.
Positive Outlook
- Strong backlog entering fiscal 2023.
- Benefits from recent investments in sales and marketing.
- Benefits from recent investments in new products.
- Continued growth in key vertical markets, including grocery and quick-serve restaurants (QSR).
- New business opportunity with a global oil company expanding in Puerto Rico, expected to result in more than $10 million of new business in the first half of fiscal 2023.
Challenges Ahead
- Refueling/c-store vertical continues to be impacted by site scheduling delays.
- Challenging operating environment.
- Rampant commodity price inflation.
- Persistent supply chain-related disruptions.
- Net long-term debt of $76.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income