LSI Industries Breaks Out After Beating EPS Estimates
Tate Dwinnell submits: Shares of LSI Industries (LYTS) are breaking out of a downtrend today after the company beat analyst estimates on the EPS side while missing the revenue estimate. Traders are focusing on the sizable EPS beat, with the stock up nearly 10% today. The company posted an EPS of .09/share (vs the estimate for .02/share) on revenues of $64.63 million (missing the analyst estimate for $70 million). The EPS number is a big improvement over the year-ago quarter when the company posted a .09/share loss.CEO Robert Ready attributed the reversal to big improvements in manufacturing efficiency. He also commented on the future:
Business is solid and is gaining momentum as we move into the fourth quarter. Assuming the general economy continues to grow, we are well-positioned to achieve substantially higher sales and profits for both the fourth quarter and fiscal 2011. Effective April 1, we instituted a price increase onComplete Story »
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