LYTS LSI Industries Inc

LSI Industries Inc. Declares Five-For-Four Stock Split CINCINNATI, Oct. 28 /PRNewswire-FirstCall/ -- LSI Industries Inc. today announced that its Board of Directors has declared a five-for-four stock split of the Company's common shares. The record date is November 7, 2003 with the payment date set for November 14, 2003. Cash will be paid in lieu of fractional shares. On October 20, 2003, the Company declared a regular quarterly cash dividend of $0.09 per share (pre-split basis) for the first quarter of fiscal 2004. This $0.09 cash dividend will be paid November 12, 2003 to holders of record at the close of business on November 5, 2003. On a post-split basis, the regular indicated quarterly and annual cash dividend rate is $0.072 and $0.288 per share, respectively. Company Comments Bob Ready, President and Chief Executive Officer, commented, "LSI Industries is a competitive, dynamic and market-focused organization. Our strong catalog of products and services, combined with our financial strength and dedicated staff, has positioned our Company very well for the future. As I mentioned in the October 21, 2003 earnings press release, we have begun to see improvements in several of our markets, as evidenced by improved year- over-year results in the first quarter of fiscal 2004. Additionally, as the economy improves, the new lighting products we developed over the past year should begin to have a favorable impact on results." Mr. Ready concluded, "This represents the fifth stock split since we have been a public company. We believe this stock split will increase the 'float' available for trading and will make the per share price more attractive to retail investors. Importantly, we want to convey a strong message of optimism to the financial community regarding our excitement for the future of LSI Industries." "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 statements. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. Risks and uncertainties include, but are not limited to, the impact of competitive products and services, product demand and market acceptance risks, reliance on key customers, financial difficulties experienced by customers, the adequacy of reserves and allowances for doubtful accounts, fluctuations in operating results or costs, unexpected difficulties in integrating acquired businesses, and the ability to retain key employees of acquired businesses. About the Company LSI Industries, headquartered in Cincinnati, is an integrated design, manufacturing, and imaging company supplying its own high-quality lighting fixtures and graphic elements for both exterior and interior applications primarily in North America. The Company's major markets are the petroleum / convenience store market, the multi-site retail market (including restaurants, automobile dealerships, and national retail accounts), and the commercial / industrial lighting market. LSI employs approximately 1,600 people in sixteen facilities located in Ohio, California, Georgia, New York, Kansas, Kentucky, Oregon, Rhode Island, South Carolina, Tennessee, Texas and Washington. The Company's common shares are traded on the Nasdaq National Market under the symbol LYTS. For further information, contact either Bob Ready, Chief Executive Officer and President, or Ron Stowell, Vice President, Chief Financial Officer, and Treasurer at (513) 793-3200. Additional note: Today's news release, along with past releases from LSI Industries, are available on the Company's internet site at http://www.lsi-industries.com/ or by fax, by calling the Investor Relations Department at (513) 793-3200. DATASOURCE: LSI Industries Inc. CONTACT: Bob Ready, Chief Executive Officer and President, or Ron Stowell, Vice President, Chief Financial Officer, and Treasurer, both of LSI Industries Inc., +1-513-793-3200 Web site: http://www.lsi-industries.com/

Copyright