LSI Industries Selected for Important New Lighting Program by Phillips 66
18 Februar 2016 - 12:45PM
LSI Industries Inc. (NASDAQ:LYTS) today announced
that it has been selected as the provider of LED lighting for a
Phillips 66 program available to branded customers to encourage
installation of canopy, site, and interior LED lighting. The
program is designed to help sites elevate the consumer experience
by providing a brighter, safer image, while also significantly
reducing electrical and maintenance spend for many years into the
future.
Mike O’Connor, Manager of Programs and Brand Image at Phillips
66 stated, “We are very pleased with LSI Industries’ outstanding
execution and order fulfillment of the graphics portion of our
Experience 66 brand image program. LSI is a natural partner
for us as we move forward with the lighting renovation portion of
this program.”
“We are excited to partner with Phillips 66 on this next phase
of their Experience 66 brand image program,” stated Shawn Toney,
President of LSI’s Lighting Segment. “Our factories and team
are geared up to support this lighting program from a product
manufacturing and program implementation standpoint.”
"This is an exciting time to be in the lighting business,"
stated Dennis Wells, LSI President and CEO. "There are so
many benefits for companies that convert to LED lighting, and LSI
is a leader in LED capabilities and products. With more than
70% of our lighting fixtures now being manufactured with LEDs, we
have expertise that will benefit Phillips 66 branded customers who
take advantage of the program. We are proud to be able to
support the Experience 66 brand image program to upgrade their
lighting and graphics. This is a perfect example of Lighting +
Graphics = Image, as the Phillips 66 program started with graphics
and broadened into lighting.”
Clarifying the timeline of shipping product from the current
contract with Phillips 66, Dennis Wells stated, “Shipping will
continue into our fourth fiscal quarter, rather than conclude in
the third quarter as we previously stated.”
"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
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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, theimpact 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,
the results of asset impairment assessments, the Company’s ability
to maintain an effective system of internal control over financial
reporting, our ability to remediate any material weaknesses in our
internal control over financial reporting and any other risk
factors that are identified herein. 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
We are a customer-centric company that positions itself as a
value-added, trusted partner in developing superior image solutions
through our world-class lighting, graphics, and technology
capabilities. Our core strategy of "Lighting + Graphics +
Technology = Complete Image Solutions" differentiates us from our
competitors.
We are committed to advancing solid-state LED technology to make
affordable, high performance, energy-efficient lighting and custom
graphic products that bring value to our customers. We have a
vast offering of innovative solutions for virtually any lighting or
graphics application. In addition, we provide sophisticated
lighting and energy management control solutions to help customers
manage their energy performance. Further, we provide a full
range of design support, engineering, installation and project
management services to our customers.
We are a vertically integrated U.S.-based manufacturer
concentrating on serving customers in North America and Latin
America. Our major markets include commercial / industrial
lighting, petroleum / convenience store and multi-site retail
(including automobile dealerships, restaurants and national retail
accounts). Headquartered in Cincinnati, Ohio, LSI has
facilities in Ohio, Kansas, Kentucky, New York, North Carolina,
Oregon, Rhode Island and Texas. The Company’s common shares
are traded on the NASDAQ Global Select Market under the symbol
LYTS.
For further information, contact Dennis Wells,
Chief Executive Officer and President 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:
DENNIS WELLS
(513) 793-3200
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