LSI Industries Reports Fiscal 2023 Second Quarter Results and Declares Quarterly Cash Dividend

CINCINNATI--(BUSINESS WIRE)--LSI Industries Inc. (Nasdaq: LYTS, or the “Company”), a leading U.S. based manufacturer of display solutions and indoor/outdoor lighting, today reported fiscal second quarter financial results for the three months ended December 31, 2022. Fiscal 2023 Second Quarter Net Sales +16% y/y to $128.8 million Net Income +107% y/y to $6.4 million; Adjusted Net Income of $7.6 million Diluted EPS of $0.22; Adjusted EPS of $0.26 EBITDA of $11.5 million; Adjusted EBITDA $13.0 million or 10.1%/sales Free Cash Flow of $8.9 million Net debt declines to $60.1 million, or 1.3x TTM Adjusted EBITDA LSI delivered strong year-over-year increases in both sales and profitability in the fiscal second quarter, driven by broad-ba