LSI Industries Inc (NAS:LYTS)
$ 20.25 -0.16 (-0.78%) Market Cap: 604.23 Mil Enterprise Value: 666.56 Mil PE Ratio: 25.63 PB Ratio: 2.86 GF Score: 65/100
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Q3 2019 LSI Industries Inc Earnings Call Transcript

Apr 25, 2019 / 03:00PM GMT
Release Date Price: $3.29 (+1.54%)
Operator

Good day, ladies and gentlemen, and welcome to the LSI Industries Inc. Third Quarter 2019 Earnings Conference Call. (Operator Instructions) Also as a reminder, this conference call is being recorded.

At this time, I'd like to turn the call over to your host to Mr. Jim Clark, Chief Executive Officer and President. Please go ahead.

James A. Clark
LSI Industries Inc. - CEO, President & Director

Operator, thank you. Good morning, and thank you for taking the time to join us on today's call. I know many of you have seen our results, but I will review the high level quickly.

For the third quarter of fiscal 2019, we reported net sales of $72.8 million or 8% below Q3 of last year and an adjusted operating loss of $1.9 million, coupled with a debt reduction of $4.6 million. Although these results were not where we would like them to be, they are not a total surprise either as we continue to move forward with our change process.

As I mentioned in our last call, LSI is going through a transformational change. Moving away from the broad

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