LSI Industries Q2: Net sales $109M, EPS $0.20, adj. EPS $0.21; gross margin +240bps; orders +10%

LSI INDUSTRIES INC

2024-Q2 EPS reported $0.47 revenue$109,005,000

Net sales $109.0M, net income $5.9M ($0.20 diluted EPS); adjusted net income $6.4M ($0.21 diluted EPS).
Gross margin rate increased 240 bps YoY; Adjusted EBITDA $11.1M (10.1% of sales); free cash flow $7.3M in Q2.
Total orders up 10% YoY; Lighting segment adjusted gross margin 35.0% (+440 bps), highest in a decade.
Declared quarterly cash dividend $0.05/share payable Feb 13 to holders of record Feb 5; net debt/EBITDA 0.4x.
Grocery vertical saw temporary project pause due to pending merger of two large grocers; expects demand ramp in Q3/Q4.

item 2.02 item 7.01 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LSI INDUSTRIES INC reported fiscal 2024 second quarter ended December 31, 2023 results: revenue $109.0 million, net income $5.9 million, EPS $0.20 per diluted share.

Period: fiscal 2024 second quarter ended December 31, 2023
Revenue: $109.0 million
Net income: $5.9 million
EPS: $0.20 per diluted share
Result: reported results

Exact text from the filing

LSI reported net income of $5.9 million, or $0.20 per diluted share, on sales of $109.0 million in the second quarter.

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Source: SEC EDGAR

accession 0001437749-24-002115

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