LSI Industries Awarded $100 Million Quick Service Restaurant Program
15 April 2020 - 4:00PM
LSI Industries (NASDAQ: LYTS) today announced that one of its
long-standing quick service restaurant (QSR) customers has awarded
the Company new business valued at more than $100 million through
calendar year-end 2022. Ranked among America’s top fast food chains
by annual revenue, the customer will have LSI digital menu boards
installed at more than 6,000 locations throughout North America.
Under the terms of the award, LSI will manufacture the menu boards
and perform the lead system integrator function, which includes
program management and installation responsibilities.
“Our recent QSR program award highlights LSI’s strategy to
anticipate changing requirements in key vertical markets and lead
in the development of new, differentiated solutions that are valued
by our customers,” said Jim Clark, President and CEO of LSI
Industries. “The award reflects the quality of our products, as
well as our broad program management capabilities. This customer
recognizes the benefits of partnering with one company to manage
the diverse set of requirements for a critical, multi-year program.
We value the trust and confidence they have in LSI to deliver a
superior solution.”
LSI will use its internal team of specialists to facilitate the
digital menu board implementation across more than 6,000
restaurants. Program activity under the new award has already
begun, and the project implementation schedule is expected to
accelerate during LSI’s fiscal fourth quarter and into fiscal
2021.
LSI’s digital menu boards will replace the majority of the
customer’s traditional indoor and outdoor signage. Compared to
printed materials, digital menu boards provide more control,
flexibility and consistency of content across multiple sites. As a
leading producer, integrator and content management provider of
digital menu board systems, LSI strives to help QSR customers
ensure that placing an order at the counter, or the drive-thru, is
always a positive experience.
About LSI Industries, Inc.Headquartered in Blue
Ash, Ohio (Greater Cincinnati), LSI Industries is a leading
producer of high-performance, American-made lighting solutions. The
Company’s strength in outdoor lighting applications creates
opportunities for it to introduce additional solutions to its
valued customers. LSI’s indoor and outdoor products and services,
including its digital and print graphics capabilities, are valued
by architects, engineers, distributors and contractors for their
quality, reliability and innovation. The Company’s products are
used extensively in automotive dealerships, petroleum stations,
quick service restaurants, grocery stores and pharmacies, retail
establishments, sports complexes, parking lots and garages, and
commercial and industrial buildings. LSI has approximately 1,200
employees at seven manufacturing plants in the United States,
including its corporate headquarters and international
subsidiaries. Additional information about LSI is available at
www.lsi-industries.com.
Forward-Looking Statements:This press release
contains forward-looking statements. Forward-looking statements may
be identified by words such as “estimates,” “anticipates,”
“encourage,” “projects,” “plans,” “expects,” “can,” “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. For details on the uncertainties that
may cause our actual results to be materially different than those
expressed in our forward-looking statements,
visit http://www.lsi-industries.com/fls as well as our
Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q
which contain risk factors.
Contacts: Media: Mike Wallner, Sr.
Manager of Communications, (513)
372-3417, mike.wallner@lsi-industries.comInvestors: Noel Ryan,
IRC, (720) 778-2415, noel.ryan@val-adv.com
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