LSI Q3 net income $5.4M ($0.18 EPS); acquires EMI for $50M

LSI INDUSTRIES INC

2024-Q3 EPS reported $0.64 revenue$108,186,000

Q3 net sales $108.2M (down YoY); net income $5.4M vs $4.7M prior year; EPS $0.18 vs $0.16.
Adjusted EBITDA $11.2M (10.4% margin, +80bps); gross margin up 140bps; free cash flow $11.2M quarterly.
Acquired EMI Industries for $50M cash on April 18; funded via cash/credit facility; net debt to TTM Adj. EBITDA 1.3x pro forma.
Declared $0.05/sh dividend payable May 14 to holders May 6; net debt $9.2M (0.2x TTM EBITDA).
Lighting segment adj. op income +11% on 280bps gross margin improvement; Display Solutions growth in c-store/QSR offset grocery weakness.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

LSI INDUSTRIES INC reported fiscal 2024 third quarter ended March 31, 2024 results: revenue $108.2 million, net income $5.4 million, EPS $0.18 per diluted share.

Period: fiscal 2024 third quarter ended March 31, 2024
Revenue: $108.2 million
Net income: $5.4 million
EPS: $0.18 per diluted share
Result: reported results

Exact text from the filing

LSI Industries Inc. (Nasdaq: LYTS, “LSI” or the “Company”) a leading U.S. based manufacturer of commercial lighting and display solutions, today reported financial results for the fiscal 2024 third quarter ended March 31, 2024. FISCAL 2024 THIRD QUARTER RESULTS ● Net Sales of $108.2 million ● Net Income of $5.4 million, or $0.18 per diluted share ● Adjusted Net Income of $6.2 million, or $0.21 per diluted share

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Source: SEC EDGAR

accession 0001437749-24-013135

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