LSI INDUSTRIES INC

LSIs Industries Inc.

Overview

• Leading producer of non-residential lighting and retail display solutions.
• Two primary business segments: Lighting and Display Solutions.
• Net sales (fiscal year ended June 30, 2026): $689.397 million
  • Lighting: $266.223 million (38% of total)
  • Display Solutions: $423.174 million (62% of total)
• Geographic mix: ~7% of consolidated net sales outside the United States.
• Employees: ~3,000 full- and part-time employees, plus ~175 agency employees (as of June 30, 2026).
• Headquarters and manufacturing footprint: Corporate headquarters in Cincinnati, Ohio, and 23 manufacturing facilities in North America.

Segment details

Lighting Segment

• Activities: Designs, manufactures, markets, and sells outdoor and indoor lighting fixtures and controls.
• Target markets and applications: Refueling and convenience stores, parking lots/garages, quick-service restaurants, retail, grocery/pharmacy, automotive dealerships, sports courts/fields, warehouses, and other verticals.
• Customer and sales channels:
  • Project business through electrical distributors and agents (direct to customer).
  • Standard products sold to and stocked by distributors.
  • Direct sales to end-use customers.
• Product characteristics:
  • LED-based lighting focused on energy efficiency, reliability, performance, and ease of installation.
  • Aesthetic options in designs, finishes, and mounting (surface, pole, pendant).
  • Integrated energy-saving features: sensors, photocontrols, dimming, motion detection, and analog and wireless circuit controllers.
• Certifications and standards: UL Solutions, Design Lights Consortium, International Dark-Sky Association, Norma Oficial Mexicana (NOM), Institute for Printed Circuits (IPC).
• Manufacturing and operations:
  • Most products designed, engineered, and assembled in-house using lean manufacturing principles.
• R&D:
  • R&D costs related to product and software development: $3.1 million (2026), $3.3 million (2025), $3.5 million (2024).
• Business attributes:
  • Focus on performance-based, energy-efficient solutions and cross-selling opportunities with Display Solutions as a single-source provider.

Display Solutions Segment

• Activities: Manufactures, sells, and installs exterior and interior visual image and display elements.
• Recent acquisitions consolidated into the segment:
  • Royston Group (acquired March 2026): Atlanta-based provider of identity and equipment solutions for retail environments, including custom store fixtures, signage, and refrigerated/heated display cases.
  • CBH (Best Holdings) (acquired fiscal 2025): Ontario-based retail fixtures and custom store design for grocery, QSR, c-store, banking, and specialty retail.
  • EMI Industries (acquired fiscal 2024): Metal and millwork manufacturer of fixtures, displays, and food equipment.
• Major products and services:
  • Custom store fixtures, signage and canopy graphics, pump dispenser graphics, building fascia graphics, decals, interior signage, marketing graphics, aisle markers, wall mural graphics.
  • Refrigerated and display cases, check-out counters, merchandising displays, and cabinetry.
  • Exterior and interior visual image elements, including digital signage and digital menu boards.
• Services and solutions:
  • Project management, installation management, site surveys, permitting, and content management.
  • Support for large rollout programs across hundreds to thousands of sites.
  • Professional services to implement corporate visual image programs and branding.
• Channel and customers:
  • Primarily sold through a direct sales force.
  • Programs often involve multi-site rollouts and long-term relationships with brand marketers, national retailers, and franchised operators.
• Market positioning:
  • Positioned as a primary supplier of exterior and interior visual image and display elements for customers.

Sales, customers and marketing

• Markets and geography: Primarily the United States (approximately 93% domestic), with non-U.S. sales in Canada, Mexico, Latin America, and the Caribbean.
• Marketing channels:
  • Lighting: Manufacturer’s sales representatives and a direct sales force; project-driven and standard product channels.
  • Display Solutions: Direct sales force focused on program-driven, multi-site projects.
• Customer relationships: Typically long-term partnerships with opportunities for cross-selling across segments.

Manufacturing, supply, and operations

• Facilities: 23 North American manufacturing facilities, plus multiple offices and warehousing sites. Production and office locations include Ohio, Kentucky, North Carolina, Texas, Florida, Georgia, Maine, New Jersey, Rhode Island, Utah, Michigan, California, Alberta, Ontario, Quebec, and others.
• Manufacturing approach: Lean manufacturing with most products designed, engineered, and assembled in-house.
• Primary materials and components: Steel, aluminum, LEDs, power supplies, sensors, paints, glass, graphics substrates, plastics, and digital display components.
• Supply chain: Multiple suppliers to mitigate risk and safety stock practices to address shortages. Exposure to raw material and transportation cost fluctuations with pricing adjustments to customers where possible.

Intellectual property and development

• Intellectual property: Owns or holds rights to various patents, trademarks, and other IP protected by patents, copyrights, trade secrets, and contractual rights.
• R&D spending: $3.1 million (2026), $3.3 million (2025), $3.5 million (2024), focused on new product development and technology enhancements.

Financial snapshot

• Total net sales:
  • Fiscal 2026: $689.397 million
    • Lighting: $266.223 million
    • Display Solutions: $423.174 million
  • Fiscal 2025: $573.377 million
    • Lighting: $248.357 million
    • Display Solutions: $325.020 million
  • Fiscal 2024: $469.638 million
    • Lighting: $262.413 million
    • Display Solutions: $207.225 million

Strategic notes

• Emphasis on energy-efficient, performance-based solutions and industry certifications.
• Growth through acquisitions has expanded capabilities in retail environments and display solutions.