New Sterling(TM) LED Fixture Recognized in Manny Award's "Biggest Breakthrough" Category
CINCINNATI, June 7, 2013 (GLOBE NEWSWIRE) -- LSI Industries Inc. (Nasdaq:LYTS) today reported that it is the recipient of the 2013 Manny Award in the "biggest breakthrough" category. This prestigious annual award is given to outstanding manufacturing companies for their innovation and best practices. LSI's recently introduced solid-state product, the Sterling™ LED area light fixture, was the basis for this award. The Manny Award is given by Cincy Magazine, a leading business publication of Greater Cincinnati.
Robert J. Ready, CEO, said, "We are pleased to receive the Manny Award. As a leading lighting and graphics company dedicated to providing advanced solid-state LED products, new product development and introduction is especially important. Following our introduction of the Sterling product, we introduced the Legacy™ product to the petroleum canopy market. Like the Sterling, the Legacy has generated a great deal of excitement in the industry. Additional energy-efficient LED based products will be introduced later this calendar year."
Scott D. Ready, President, commented, "After more than a year and a half of development, we are excited to introduce to the market a revolutionary new patented LED lighting product which incorporates technology that will become one of our platforms for future product development and innovation. Historically, light fixtures have been designed with a central light source including a lamp, reflector and lens in the middle of the fixture. This arrangement basically distributed a splash of light below the fixture. With advances in LED technology, LSI saw an opportunity to design an optical system dramatically different from that used in traditional lighting. This is a revolutionary optical system that delivers light with superior precision that allows customers to more effectively and efficiently illuminate outdoor parking lots and other areas. This breakthrough is accomplished by directing four precisely angled, side mounted, optical LED modules at the targeted area to be illuminated.
"This platform and technology takes LED area lighting to a new and higher level of performance. The Sterling's light distribution performance increases the effective area of illumination by over 70%, as compared to other current generation LED area lights. This allows for the design of lighting layouts that use fewer fixtures and wider pole spacing, and directly translates into savings for the customer by reducing the aggregate cost of the light fixtures, installation, maintenance and energy usage. The Sterling luminaire, complete with optional integrated wireless controls and information systems, is manufactured in LSI's U.S. facilities."
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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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