LSI Industries Inc., a prominent U.S.-based manufacturer of commercial lighting and display solutions, has reported its financial results for the fiscal 2024 fourth quarter and full year, which ended on June 30, 2024. The company reported steady growth in key financial metrics, reflecting a strong finish to the fiscal year. Notably, LSI achieved net sales of $129.0 million in the fourth quarter, representing a 4% increase over the previous year. The company also recorded a net income of $5.7 million, which included $1.0 million in acquisition-related expenses. Adjusted net income for the quarter stood at $7.3 million, or $0.24 per diluted share, highlighting LSI’s ability to generate solid earnings even amidst fluctuating demand in certain markets.
For the full fiscal year, LSI reported net sales of $469.6 million and a net income of $25.0 million, or $0.83 per diluted share. The company’s performance was bolstered by the successful acquisition of EMI Industries in April 2024, which contributed to LSI’s comprehensive display solutions offering. LSI’s disciplined approach to operational management and cost controls enabled it to maintain strong adjusted EBITDA margins, which expanded by 60 basis points year-over-year to 11.0%. The company’s robust free cash flow generation of $38.0 million for the year underscores its financial stability and commitment to reinvesting in growth initiatives.
Read the full fourth quarter report from LSI Industries on their website by clicking here