Source: LSI Industries Inc.
CINCINNATI, Feb. 18, 2016 (GLOBE NEWSWIRE) -- 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.”
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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, 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