LSI Industries Announces Consolidation of Its Dallas, Texas Manufacturing Facility
01 6월 2010 - 7:45PM
LSI Industries Inc. (Nasdaq:LYTS) today announced
that it will consolidate the Dallas-based landscape and
architectural outdoor lighting operations of LSI Greenlee Lighting
into its Cincinnati manufacturing facility. This consolidation
action, which is expected to be completed in phases over the next
six months, is being taken to centralize manufacturing operations,
lower costs, and improve capacity utilization in the Company's main
lighting facility. The award winning product lines of Greenlee
will continue to be promoted and supported in the Company's
markets. Certain engineering and sales personnel will remain
in Dallas. The Company believes this consolidation will
accelerate its initiative of introducing LED light sources into its
landscape and architectural outdoor lighting products. Efforts
will be made to sub-lease the 40,000 square foot facility in Dallas
which is leased by LSI Industries through February 2012. All
expenses incurred in connection with this facility consolidation
will be recorded as period expenses, and discontinued operations
accounting treatment will not apply.
"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 "guidance," "forecasts," "estimates," "anticipates,"
"projects," "plans," "expects," "intends," "believes," "seeks,"
"may," "will," "should" or the negative versions of those words and
similar expressions, and by the context in which they are
used. Such statements, including statements contained herein
regarding anticipated trends in the Company's business, 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. These 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, potential costs associated with
litigation and regulatory compliance, the adequacy of reserves and
allowances for doubtful accounts, fluctuations in operating results
or costs, unexpected difficulties in integrating acquired
businesses, the cyclical and seasonal nature of our business, the
ability to retain key employees of acquired businesses and any
other factors that may be identified in our reports filed with the
Securities and Exchange Commission, including our Annual Report on
Form 10-K. The Company has no obligation to update any
forward-looking statements to reflect subsequent events or
circumstances.
About the Company
LSI Industries 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, South American,
Asian, Australian, New Zealand and European markets.
Building upon its success with the Crossover® LED canopy
fixture, LSI is committed to producing affordable, high
performance, energy efficient lighting products, including
solid-state LED light fixtures, for indoor and outdoor
use. The Company also designs, produces, markets and manages a
wide array of custom indoor and outdoor graphics programs including
signage, menu board systems, decorative fixturing, LED displays and
digital signage, and large format billboard and sports screens
using solid-state LED technology. In addition, we provide
design support, engineering, installation and project management
for custom rollout programs for today's retail
environment. The Company's technology R&D operation
located in Montreal, Canada designs, produces and supports high
performance light engines and large format billboard, sports and
entertainment video screens using solid-state LED technology.
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
1,300 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.
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.
CONTACT: LSI Industries
Bob Ready
Ron Stowell
(513) 793-3200
LSI Industries (NASDAQ:LYTS)
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