LSI Industries Inc. (Nasdaq:LYTS) today announced
that it has appointed Robert P. Beech to its Board of Directors
effective immediately. Mr. Beech has substantial experience as
a CEO and senior corporate executive, leading high-technology
ventures and strategic initiatives. He is currently engaged as
Entrepreneur-in-Residence for biosciences at
CincyTechUSA. From 2004 through 2012 he was a senior executive
at Intrexon Corporation, a privately held biotechnology company
based in Maryland. Prior to 2003, he was CEO of Digineer,
Inc., an international healthcare IT software and services company
he founded in 1986 and led until 2002. At its peak the company
employed over 140 information technology professionals.
Bob received a BS degree in Biology from the University of Miami
honors and privileged studies program, graduating magna cum
laude. He performed post-graduate studies in microbiology at
Florida State University and received a Medical Technology degree
in conjunction with Tallahassee Memorial Regional Medical
Center. Bob is a long-standing member of the American Society
of Clinical Pathology and was involved in clinical diagnostics
prior to leading healthcare and biotechnology ventures.
Robert J. Ready, Chief Executive Officer, stated, "We welcome
Bob Beech to our board and look forward to his contributions and
insights, particularly as they pertain to technology oriented
aspects as we pursue solid-state LED lighting and graphics
opportunities. From design and engineering, through
manufacturing, and sales and service, our business is increasingly
being influenced by advanced technologies."
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
This document contains certain forward-looking statements that
are subject to numerous assumptions, risks or
uncertainties. The Private Securities Litigation Reform Act of
1995 provides a safe harbor for forward-looking
statements. Forward-looking statements may be identified by
words such as "estimates," "anticipates," "projects," "plans,"
"expects," "intends," "believes," "seeks," "may," "will," "should"
or the negative versions of those words and similar expressions,
and by the context in which they are used. Such statements,
whether expressed or implied, are based upon current expectations
of the Company and speak only as of the date made. Actual
results could differ materially from those contained in or implied
by such forward-looking statements as a result of a variety of
risks and uncertainties over which the Company may have no
control. These risks and uncertainties include, but are not
limited to, the impact of competitive products and services,
product demand and market acceptance risks, potential costs
associated with litigation and regulatory compliance, reliance on
key customers, financial difficulties experienced by customers, the
cyclical and seasonal nature of our business, the adequacy of
reserves and allowances for doubtful accounts, fluctuations in
operating results or costs whether as a result of uncertainties
inherent in tax and accounting matters or otherwise, unexpected
difficulties in integrating acquired businesses, the ability to
retain key employees of acquired businesses, unfavorable economic
and market conditions, and the results of asset impairment
assessments. You are cautioned to not place undue reliance on
these forward-looking statements. In addition to the factors
described in this paragraph, the risk factors identified in our
Form 10-K and other filings the Company may make with the SEC
constitute risks and uncertainties that may affect the financial
performance of the Company and are incorporated herein by
reference. The Company does not undertake and hereby disclaims
any duty to update any forward-looking statements to reflect
subsequent events or circumstances.
About the Company
Leadership. Strength. Innovation. Those are the
key values behind the smart vision upon which LSI Industries Inc.
was founded when established in 1976. Today LSI demonstrates
this in our dedication to advancing technology throughout all
aspects of our business – in both product solutions and production
techniques. We are committed to American innovation through
technology.
We are a vertically integrated manufacturer who combines
assimilated technology, design and manufacturing to produce the
most efficient, high quality products possible. We are
dedicated to advancing solid-state technology to make affordable,
high performance, energy efficient lighting and custom graphic
products that bring value to our customers. In addition, we
can provide sophisticated lighting and energy management control
solutions to help customers manage their energy
performance. Further, we offer design support, engineering,
installation and project management for custom graphics rollout
programs for today's retail environment.
LSI is proud to be an American company with an American work
force, building an American product. We are a U.S.
manufacturer with marketing / sales efforts throughout the world
with concentration currently on North America, Latin America,
Australia, New Zealand, Asia, Europe and the Middle East. Our
major markets include the commercial / industrial lighting,
petroleum / convenience store, multi-site retail (including
automobile dealerships, restaurants and national retail accounts),
sports and entertainment markets. Headquartered in Cincinnati,
Ohio, LSI has facilities in Ohio, Kansas, Kentucky, New York, North
Carolina, Oregon, Rhode Island, Texas and Montreal,
Canada. The Company's common shares are traded on the NASDAQ
Global Select Market under the symbol LYTS.
As we redefine LSI Industries' place in the markets we serve, we
will emphasize our commitment to preserving the foundation of a
well-managed, financially strong and creatively unique company with
even stronger emphasis on a growing technology base. Through
the Leadership, Strength and Innovation that is core to our
culture, we move forward continuing our transition to a
technology-reliant company with lighting and graphics and the
ability to provide the stronger performance our many partners
expect.
For further information, contact either Bob
Ready, Chief Executive Officer, or Ron Stowell, Vice President,
Chief Financial Officer, and Treasurer at (513) 793-3200.
Additional note: Today's news
release, along with past releases from LSI Industries, is available
on the Company's internet site at www.lsi-industries.com or by
email or fax, by calling the Investor Relations Department at (513)
793-3200.
CONTACT: BOB READY OR
RON STOWELL
(513) 793-3200
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