Wednesday, October 24, 2001
LSI reports higher earnings on record revenues
Earnings
By Mike Boyer
The Cincinnati Enquirer
LSI Industries Inc., the Blue Ash lighting and graphics manufacturer, Tuesday reported higher fiscal first-quarter earnings on record revenues.
For the three months ended Sept. 30, LSI said net income rose to $3.7 million, or 35 cents a share, from $3 million, or 29 cents a share, in the same period last year.
Revenues increased 25 percent to a record $67 million from last year's $53.6 million. The company said two major petroleum/convenience store conversion programs, a major menu board program and sales from two acquisitions over the last year contributed to the revenue gains.
The company also raised its quarterly cash dividend 5.9 percent to 9 cents a share, payable Nov. 13 to shareholders of record Nov. 6.
The company's stock closed Tuesday at $22.44, down $1.16 a share.
In another report:
General Cable Corp.: The Highland Heights cable maker reported a net loss of $32.1 million, or 98 cents a share, in the third quarter after net one-time charges of $40.8 million from selling its building wire business and exiting the cord-set business.
In the same period last year, the company reported net income of $15.5 million, or 46 cents a share.
Excluding non-recurring items for the three months ended Sept. 30, General Cable said net income was $8.7 million, or 26 cents a share.
Revenues for the quarter declined 12 percent to $389.5 million from $441.2 million a year ago.
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