LSI Industries (LYTS) Tops Q2 EPS by 5c, Beats on Revenues

LSI Industries (NASDAQ: LYTS) reported Q2 EPS of $0.12, $0.05 better than the analyst estimate of $0.07. Revenue for the quarter came in at $92.3 million versus the consensus estimate of $88.85 million.

Second Quarter Summary

• Sales increased 8% compared to Q2 of the prior year
• Adjusted Operating Income increased 31%, with adjusted operating margin improving 90 basis points
• Adjusted Net Income increased 32% versus prior year (see reconciliation in Non-GAAP items below)
• Recorded one-time incremental $4.7 million after-tax charge to reduce the value of its deferred tax assets related to the new Tax Cuts and Jobs Act legislation
• GAAP reported EPS was a loss of $(0.06) versus $0.08 in prior year Q2. Adjusted EPS of $0.12 compared to $0.10 in Q2 prior year

For earnings history and earnings-related data on LSI Industries (LYTS) click here.

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