LSI Industries Third Quarter, Fiscal 2018 Earnings Conference Call Update
24 Avril 2018 - 11:59PM
LSI Industries Inc. (NASDAQ:LYTS)
today
provided an update on the third quarter, fiscal 2018 earnings
conference call. John Morgan, Managing Director,
commented, “The Company has received a number of inquiries from
shareholders with regard to the recent departure of the CEO and the
effect this may have on the conference call scheduled for Thursday
April 26th. First let me confirm that this call is still
scheduled to take place at 10:00 a.m. Jim Galeese, CFO will
review financial results for the quarter and year-to-date. In
addition I will join Jim on the call to represent the Board of
Directors, and will be available to answer your questions with
regard to the focus of the CEO search.
“To be responsive to recent shareholder inquiries, I want to
supplement the release from Monday April 23rd and add clarity
regarding the CEO change. The Board believes that the
previous CEO achieved a number of improvements to the business and
that the Company is now well positioned to grow. The decision
was made to bring in a new CEO with skills and experience in
product innovation and revenue growth, and this shift in emphasis
is the sole reason for making the change.
“The search will target a CEO with successful experience in
managing through market transformations that we are seeing in both
the lighting and graphics markets we serve. Developments in
the application of emerging technologies, digital electronics, and
a connected world will present a number of opportunities in the
future. In order to unlock the potential value of LSI, we
believe it is important to invest in profitable growth as a primary
financial lever. The development of top-line growth
strategies demands unique skills, and adding these skill sets to
the organization is the focus of our recruitment effort.
“The team at LSI is excited about the future opportunities to
grow the business and we look forward to discussing this with you
on the call this Thursday.”
About the Company
We are a customer-centric company that positions itself as a
value-added, trusted partner in developing superior image solutions
through our world-class lighting, graphics, and technology
capabilities. Our core strategy of "Lighting + Graphics +
Technology = Complete Image Solutions" differentiates us from our
competitors.
We are committed to advancing solid-state LED technology to make
affordable, high performance, energy-efficient lighting and custom
graphic products that bring value to our customers. We have a
vast offering of innovative solutions for virtually any lighting or
graphics application. In addition, we provide sophisticated
lighting and energy management control solutions to help customers
manage their energy performance. Further, we provide a full
range of design support, engineering, installation and project
management services to our customers.
We are a vertically integrated U.S.-based manufacturer
concentrating on serving customers in North America and Latin
America. Our major markets include commercial / industrial
lighting, petroleum / convenience store and multi-site retail
(including automobile dealerships, restaurants and national retail
accounts). Headquartered in Cincinnati, Ohio, LSI has
facilities in Ohio, California, Kentucky, New York, North Carolina
and Texas. The Company’s common shares are traded on the
NASDAQ Global Select Market under the symbol LYTS.
For further information, contact John Morgan,
managing director, at (513) 815-6773.
Additional note: Today’s news release,
along with past releases from LSI Industries, is available on the
Company’s internet site at www.lsi-industries.com or by email or
fax, by calling the Investor Relations Department at (513)
793-3200.
LSI Industries (NASDAQ:LYTS)
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