$LYTS
LSI INDUSTRIES INC

2018 Q3 Form 10-Q Financial Statement

#000143774918019868 Filed on November 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3 2017 Q2
Revenue $84.96M $87.47M $83.42M
YoY Change -2.87% 3.93% 3.19%
Cost Of Revenue $63.54M $63.76M $62.14M
YoY Change -0.35% 1.5% 1.87%
Gross Profit $21.26M $23.70M $21.24M
YoY Change -10.3% 13.77% 7.0%
Gross Profit Margin 25.03% 27.1% 25.46%
Selling, General & Admin $18.33M $20.52M $20.61M
YoY Change -10.67% 4.59% 15.98%
% of Gross Profit 86.2% 86.56% 97.05%
Research & Development $1.562M
YoY Change 11.49%
% of Gross Profit 6.59%
Depreciation & Amortization $2.643M $2.572M $2.570M
YoY Change 2.76% 40.16% 44.38%
% of Gross Profit 12.43% 10.85% 12.1%
Operating Expenses $18.33M $22.08M $20.60M
YoY Change -16.99% 5.05% 15.99%
Operating Profit $2.934M -$24.81M $636.0K
YoY Change -111.82% -2427.77% -69.53%
Interest Expense $532.0K $411.0K -$400.0K
YoY Change 29.44% 3061.54% -2100.0%
% of Operating Profit 18.13% -62.89%
Other Income/Expense, Net
YoY Change
Pretax Income $2.416M -$25.22M $100.0K
YoY Change -109.58% -2434.91% -95.24%
Income Tax $667.0K -$9.588M -$600.0K
% Of Pretax Income 27.61% -600.0%
Net Earnings $1.749M -$15.63M $696.0K
YoY Change -111.19% -1985.28% -51.26%
Net Earnings / Revenue 2.06% -17.87% 0.83%
Basic Earnings Per Share $0.07 -$0.61 $0.03
Diluted Earnings Per Share $0.07 -$0.61 $0.03
COMMON SHARES
Basic Shares Outstanding 26.03M 25.79M
Diluted Shares Outstanding 26.37M 25.79M

Balance Sheet

Concept 2018 Q3 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.200M $2.100M $3.000M
YoY Change 100.0% -93.16% -91.12%
Cash & Equivalents $4.162M $2.120M $3.039M
Short-Term Investments
Other Short-Term Assets $3.600M $3.400M $4.400M
YoY Change 5.88% -2.86% 57.14%
Inventory $46.83M $49.18M $50.99M
Prepaid Expenses
Receivables $59.80M $54.30M $48.90M
Other Receivables $1.200M $0.00 $800.0K
Total Short-Term Assets $118.3M $109.0M $107.1M
YoY Change 8.6% -12.12% -16.14%
LONG-TERM ASSETS
Property, Plant & Equipment $42.52M $45.98M $47.35M
YoY Change -7.52% -3.58% -0.23%
Goodwill $30.54M $30.54M $58.54M
YoY Change 0.0% 190.62% 457.08%
Intangibles $34.72M $37.48M $38.17M
YoY Change -7.37% 584.05% 583.3%
Long-Term Investments
YoY Change
Other Assets $9.609M $16.22M $5.490M
YoY Change -40.74% 215.24% 28.84%
Total Long-Term Assets $117.2M $130.2M $149.6M
YoY Change -10.0% 89.21% 120.52%
TOTAL ASSETS
Total Short-Term Assets $118.3M $109.0M $107.1M
Total Long-Term Assets $117.2M $130.2M $149.6M
Total Assets $235.5M $239.2M $256.7M
YoY Change -1.52% 24.04% 31.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.77M $17.84M $19.36M
YoY Change 33.25% 24.91% 39.33%
Accrued Expenses $21.95M $23.50M $24.27M
YoY Change -6.62% 14.62% -4.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $45.72M $41.35M $45.43M
YoY Change 10.59% 18.84% 15.78%
LONG-TERM LIABILITIES
Long-Term Debt $46.15M $51.86M $49.70M
YoY Change -11.01%
Other Long-Term Liabilities $2.606M $1.587M $1.479M
YoY Change 64.21% 38.72% 83.27%
Total Long-Term Liabilities $48.76M $53.45M $51.18M
YoY Change -8.78% 4572.12% 6241.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $45.72M $41.35M $45.43M
Total Long-Term Liabilities $48.76M $53.45M $51.18M
Total Liabilities $94.48M $94.80M $96.60M
YoY Change -0.33% 163.8% 141.26%
SHAREHOLDERS EQUITY
Retained Earnings $15.72M $22.90M $39.82M
YoY Change -31.39% -44.73% -4.89%
Common Stock $124.9M $121.5M $120.1M
YoY Change 2.78% 5.23% 5.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.180M $2.457M
YoY Change -11.69% 13.34%
Treasury Stock Shares $241.1K $257.9K
Shareholders Equity $141.1M $144.4M $160.1M
YoY Change
Total Liabilities & Shareholders Equity $235.5M $239.2M $256.7M
YoY Change -1.52% 24.04% 31.25%

Cashflow Statement

Concept 2018 Q3 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $1.749M -$15.63M $696.0K
YoY Change -111.19% -1985.28% -51.26%
Depreciation, Depletion And Amortization $2.643M $2.572M $2.570M
YoY Change 2.76% 40.16% 44.38%
Cash From Operating Activities $2.188M -$2.725M $8.310M
YoY Change -180.29% -903.83% 187.54%
INVESTING ACTIVITIES
Capital Expenditures $648.0K $498.0K -$3.100M
YoY Change 30.12% -74.59% 72.22%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.530M $20.00K
YoY Change -100.0% -140.0%
Cash From Investing Activities -$648.0K $1.029M -$3.090M
YoY Change -162.97% -152.5% 67.03%
FINANCING ACTIVITIES
Cash Dividend Paid $1.296M
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $106.0K
YoY Change -100.0% -69.19%
Debt Paid & Issued, Net $23.04M $22.25M
YoY Change 3.56%
Cash From Financing Activities -556.0K 777.0K -6.560M
YoY Change -171.56% -151.8% 569.39%
NET CHANGE
Cash From Operating Activities 2.188M -2.725M 8.310M
Cash From Investing Activities -648.0K 1.029M -3.090M
Cash From Financing Activities -556.0K 777.0K -6.560M
Net Change In Cash 984.0K -919.0K -1.340M
YoY Change -207.07% -70.55% -2333.33%
FREE CASH FLOW
Cash From Operating Activities $2.188M -$2.725M $8.310M
Capital Expenditures $648.0K $498.0K -$3.100M
Free Cash Flow $1.540M -$3.223M $11.41M
YoY Change -147.78% 98.83% 143.28%

Facts In Submission

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42199000
CY2018Q3 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
15124000
CY2018Q3 us-gaap Line Of Credit
LineOfCredit
46200000
CY2018Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
53800000
CY2018Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
46152000
CY2018Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
45360000
CY2018Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
77658000
CY2018Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
77108000
CY2018Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-556000
CY2017Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
777000
CY2018Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-648000
CY2017Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1029000
CY2018Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2188000
CY2017Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2725000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
1749000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-15629000
CY2018Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2018Q3 us-gaap Number Of Reporting Units
NumberOfReportingUnits
3
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2934000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-24814000
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5545000
CY2017Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4658000
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9786000
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9609000
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9420000
CY2018Q3 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
58047000
CY2018Q2 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
58047000
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2606000
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2707000
CY2018Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
CY2017Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
106000
CY2018Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
9000
CY2018Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1296000
CY2017Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1286000
CY2018Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
52000
CY2017Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
110000
CY2018Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
648000
CY2017Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
498000
CY2018Q3 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
590000
CY2018Q3 us-gaap Postemployment Benefits Liability Noncurrent
PostemploymentBenefitsLiabilityNoncurrent
985000
CY2018Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2018Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3625000
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3516000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42523000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
43703000
CY2018Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-19000
CY2017Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
49000
CY2018Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
23039000
CY2017Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22247000
CY2018Q3 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">Reclassifications:</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Certain prior year amounts have been reclassified to conform to the current year presentation within the cash flows from operating activities section and cash flows from financing activities section of the statement of cash flows. These reclassifications have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impact on net income or earnings per share.</div></div></div></div></div></div></div></div></div>
CY2018Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
23831000
CY2017Q3 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
24411000
CY2018Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
CY2017Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1527000
CY2018Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
CY2017Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
115000
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
121621000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
120879000
CY2018Q3 us-gaap Restructuring Charges
RestructuringCharges
112000
CY2018Q2 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2018Q3 us-gaap Restructuring Reserve
RestructuringReserve
103000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
15715000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
16168000
CY2018Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
84957000
CY2017Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
87466000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25791000
CY2018Q3 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
227000
CY2017Q3 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
245000
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
141063000
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
139251000
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18327000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20517000
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
551000
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
984000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
724037
CY2017Q3 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.92
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
7095000
CY2017Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6876000
CY2018 us-gaap Stock Issued1
StockIssued1
90000
CY2017 us-gaap Stock Issued1
StockIssued1
78000
CY2018Q2 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
1772000
CY2017Q2 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
235000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26032000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25791000
CY2017Q3 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
76000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26365000
CY2018Q3 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
1575000

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