LSI Industries Inc. F1Q09 (Qtr End 9/30/2008) Earnings Call Transcript

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2008-10-24 07:12:10.0

Tags: Board, Call Transcript, Earnings, Graphics, LSI Industries Inc., LLC, Ronald Sowell SG&A, Corporate Governance, Business Operations, Corporate Law, Seeking Alpha, Board, Call Transcript, Earnings, Graphics, LSI Industries Inc., LLC, Ronald Sowell SG&A, Corporate Governance, Business Operations, Corporate Law, Seeking Alpha

Question-and-Answer Session

Operator

Your first question comes from Glenn Wortman - Sidoti & Company, LLC.

Glenn Wortman - Sidoti & Company, LLC

Can you just shed a little light on the sequential drop in the SG&A expense?

Ronald Sowell

SG&A is part of the reductions that we have incurred. We have some I think favorable changes related to some of the operating expenses and I think I do not have that with me here, but it's going to be in the – I do not have it, Glenn. I won't suspect to guess. It's a bad debt reserve, it's less legal expenses and actually our sales commissions are up from the first quarter, well I'm comparing the prior year, sorry. I do not have a sequential comparison.

Glenn Wortman - Sidoti & Company, LLC

As far as just the breakout within the graphics segment, the guys you talked about –

Robert J. Ready

Excuse me, Glenn, one of the things that we recorded in the fourth quarter certainly was our settlement offer for the menu board patent litigation and that was $2.8 million in the fourth quarter, so put that into your thinking in terms of looking at that sequential drop in SG&A.

Glenn Wortman - Sidoti & Company, LLC

Just with respect to just the breakout of the revenue within graphics, can you maybe shed a little light on how much of that came from the sports boards and how much came from maybe the more recurring everyday types graphics business.

Robert J. Ready

Sure, David I think you've got that number.

David W. McCauley

Yes I do, of the approximate $25 million in revenue $4.5 million was in the board business. That would be mostly sports boards and that does not include, excuse me and entertainment $4.5 million up $25 million.

Glenn Wortman - Sidoti & Company, LLC

How does that compare to say the previous quarter?

David W. McCauley

The previous a year ago quarter?

Glenn Wortman - Sidoti & Company, LLC

The quarter that just passed, I guess both if you have it.

Robert J. Ready

The fourth quarter.

David W. McCauley

I don't have the fourth quarter figures. I know our sales in the fourth quarter last year were in the $18 million range so we went from $18 million to $25 million, but I'd have to take a guess at it. It's in the million dollar range.

 

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