LSI Industries Inc. Announces New Multi-Year Solid-State LED Lighting Upgrade Program With Major Petroleum Company
17 Novembre 2010 - 12:45PM
LSI Industries Inc. (Nasdaq:LYTS) today announced
that it has been selected by BP Products North America to be its
supplier in connection with a major new LED canopy lighting upgrade
program. LSI will act as BP's "lighting expert" and will have
principal responsibility for this domestic program which includes
survey of sites to determine product needs and the manufacture and
supply of energy efficient LED fixtures. This program has been
in the planning stages for several months, and involved an earlier
test program of 100 sites. Shipments of LSI products could begin
during the third quarter of LSI's current fiscal year. The
retrofit program is expected to involve as many as 1,600 sites per
year for three years for jobber-owned locations. LSI's
new Crossover® Generation 3 LED canopy fixture that was released to
the market earlier this year continues to generate great interest,
gain acceptance, and will be used in this canopy retrofit program.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
This document contains certain forward-looking statements that
are subject to numerous assumptions, risks or
uncertainties. The Private Securities Litigation Reform Act of
1995 provides a safe harbor for forward-looking
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words such as "estimates," "anticipates," "projects," "plans,"
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and by the context in which they are used. Such statements,
whether expressed or implied, are based upon current expectations
of the Company and speak only as of the date made. Actual
results could differ materially from those contained in or implied
by such forward-looking statements as a result of a variety of
risks and uncertainties over which the Company may have no
control. These risks and uncertainties include, but are not
limited to, the impact of competitive products and services,
product demand and market acceptance risks, potential costs
associated with litigation and regulatory compliance, reliance on
key customers, financial difficulties experienced by customers, the
cyclical and seasonal nature of our business, the adequacy of
reserves and allowances for doubtful accounts, fluctuations in
operating results or costs whether as a result of uncertainties
inherent in tax and accounting matters or otherwise, unexpected
difficulties in integrating acquired businesses, the ability to
retain key employees of acquired businesses, unfavorable economic
and market conditions, and the results of asset impairment
assessments. You are cautioned to not place undue reliance on
these forward-looking statements. In addition to the factors
described in this paragraph, the risk factors identified in our
Form 10-K and other filings the Company may make with the SEC
constitute risks and uncertainties that may affect the financial
performance of the Company and are incorporated herein by
reference. The Company does not undertake and hereby disclaims
any duty to update any forward-looking statements to reflect
subsequent events or circumstances.
About the Company
LSI Industries Inc. is an Image Solutions company, dedicated to
advancing solid-state LED technology in lighting and graphics
applications. We combine integrated technology, design, and
manufacturing to supply high quality, environmentally friendly
lighting fixtures and graphics elements for commercial, retail and
specialty niche market applications. LSI is a U.S.
manufacturer with marketing / sales efforts throughout the world
with concentration currently on North American, Latin American,
Australian, New Zealand, Asian, European and Middle Eastern
markets.
Building upon its success with its Crossover® LED lighting
fixtures and SmartVision® solid-state LED video boards, LSI is
committed to producing affordable, high performance, energy
efficient lighting and graphic products for indoor and outdoor
use. We have a vast offering of innovative solutions for
virtually any lighting or graphics application. Further, we
can provide design support, engineering, installation and project
management for custom graphics rollout programs for today's retail
environment.
LSI's major markets are the commercial / industrial lighting,
petroleum / convenience store, multi-site retail (including
automobile dealerships, restaurants and national retail accounts),
sports and entertainment markets. LSI employs approximately
1,500 people in facilities located in Ohio, New York, North
Carolina, Kansas, Kentucky, Rhode Island, Texas and Montreal,
Canada. The Company's common shares are traded on the NASDAQ
Global Select Market under the symbol LYTS.
The LSI Industries Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3646
CONTACT: LSI Industries Inc.
Bob Ready, Chief Executive Officer and President
Ron Stowell, Vice President, Chief Financial Officer,
and Treasurer
(513) 793-3200
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