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Note 3 - Segment Reporting Information | 3 Months Ended
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Sep. 30, 2015
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | NOTE 3 - SEGMENT REPORTING INFORMATION ASC Topic 280, “Segment Reporting,” establishes standards for reporting information regarding operating segments in annual financial statements and requires selected information of those segments to be presented in financial statements. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (the Company’s Chief Executive Officer or “CODM”) in making decisions on how to allocate resources and assess performance. With a new Chief Executive Officer and a new view on how the Company will be managed, the Company has realigned its operating segments to be in alignment with the financial information now received by the CODM. The Company’s three operating segments are Lighting, Graphics, and Technology, each of which has a president who is responsible for that business and reports to the CODM. An All Other Category as well as Corporate and Eliminations will also be reported in the segment information. As a result of the realignment of the Company’s operating segments in the third quarter of fiscal 2015, all prior period segment information has been revised so as to be comparable with the new segment reporting structure. The changes made and realignment of the Company’s operating segments involved the following:
| 1) | The segment formerly known as the Electronic Components Segment was renamed as the Technology Segment.
| 2) | The LED Video Screen product line was moved out of the Lighting Segment and into the Technology Segment.
| 3) | The Company’s installation management business (LSI Adapt) and the menu board business (LSI Images) were moved out of the All Other Category and into the Graphics Segment.
The Lighting Segment includes outdoor, indoor, and landscape lighting utilizing both traditional and LED light sources, that have been fabricated and assembled for the commercial, industrial and multi-site retail lighting markets, the Company’s primary niche markets (petroleum / convenience store market, automotive dealership market, and quick service restaurant market). The Graphics Segment designs, manufactures and installs exterior and interior visual image elements related to traditional graphics, active digital signage along with the management of media content related to digital signage, and menu board systems that are either digital or traditional by design. These products are used in visual image programs in several markets, including the petroleum / convenience store market, multi-site retail operations, banking, and restaurants. The Graphics Segment implements, installs and provides program management services related to products sold by the Graphics Segment and by the Lighting Segment. The Technology Segment designs and manufactures electronic circuit boards, assemblies and sub-assemblies, various control system products used in other applications (including the control of solid-state LED lighting and metal halide lighting), and solid state LED video screens, scoreboards and advertising ribbon boards. This operating segment sells its products directly to customers (primarily in the transportation, original equipment manufacturers and medical markets) and also has significant inter-segment sales to the Lighting Segment. The All Other Category includes only the Company’s former subsidiary that designed and produced high-performance light engines, large format video screens using solid-state LED technology, and certain specialty LED lighting. This subsidiary was sold on September 30, 2014 (See Note 13). The Company’s corporate administration activities are reported in a line item titled Corporate and Eliminations. This primarily includes intercompany profit in inventory eliminations, expense related to certain corporate officers and support staff, the Company’s internal audit staff, expense related to the Company’s Board of Directors, stock option expense for options granted to corporate administration employees, certain consulting expenses, investor relations activities, and a portion of the Company’s legal, auditing and professional fee expenses. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes, and deferred income tax assets. The Company’s Lighting Segment and Graphics Segment net sales to a petroleum-convenience store customer represented approximately $9,660,000 or 11% of consolidated net sales in the three months ended September 30, 2015. There was no concentration of consolidated net sales in the three months ended September 30, 2014. The Company’s Graphics Segment accounts receivable balance related to this customer at September 30, 2015 was $5,202,000 or 11% of consolidated net accounts receivable. There was no concentration of accounts receivable at June 30, 2015. Summarized financial information for the Company’s operating segments is provided for the indicated periods and as of September 30, 2015 and September 30, 2014:
|  | Three Months Ended |
(In thousands) |  | September 30 |
|  | 2015 |  |  | 2014 |
Net Sales: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 59,075 |  |  | $ | 55,721 |
Graphics Segment |  |  | 21,753 |  |  |  | 16,024 |
Technology Segment |  |  | 5,097 |  |  |  | 6,680 |
All Other Category |  |  | -- |  |  |  | 41 |
|  | $ | 85,925 |  |  | $ | 78,466 |
Operating Income (Loss): |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 5,682 |  |  | $ | 4,227 |
Graphics Segment |  |  | 2,161 |  |  |  | 53 |
Technology Segment |  |  | 1,340 |  |  |  | 632 |
All Other Category |  |  | -- |  |  |  | (183 | )
Corporate and Eliminations |  |  | (3,420 | ) |  |  | (2,195 | )
|  | $ | 5,763 |  |  | $ | 2,534 |
Capital Expenditures: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 689 |  |  | $ | 582 |
Graphics Segment |  |  | 505 |  |  |  | 334 |
Technology Segment |  |  | 116 |  |  |  | 44 |
All Other Category |  |  | -- |  |  |  | 4 |
Corporate and Eliminations |  |  | 52 |  |  |  | 6 |
|  | $ | 1,362 |  |  | $ | 970 |
Depreciation and Amortization: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 705 |  |  | $ | 722 |
Graphics Segment |  |  | 215 |  |  |  | 250 |
Technology Segment |  |  | 355 |  |  |  | 338 |
All Other Category |  |  | -- |  |  |  | 31 |
Corporate and Eliminations |  |  | 301 |  |  |  | 245 |
|  | $ | 1,576 |  |  | $ | 1,586 |
|  | September 30, 2015 |  |  | June 30, 2015 |
Identifiable Assets: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 90,570 |  |  | $ | 90,713 |
Graphics Segment |  |  | 35,920 |  |  |  | 29,477 |
Technology Segment |  |  | 29,568 |  |  |  | 28,423 |
All Other Category |  |  | -- |  |  |  | -- |
Corporate and Eliminations |  |  | 32,350 |  |  |  | 33,766 |
|  | $ | 188,408 |  |  | $ | 182,379 |
The segment net sales reported above represent sales to external customers. Segment operating income, which is used in management’s evaluation of segment performance, represents net sales less all operating expenses including impairment of goodwill, but excluding interest expense and interest income. Identifiable assets are those assets used by each segment in its operations. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes, and deferred income tax assets. The Company records a 10% mark-up on intersegment revenues. Any intersegment profit in inventory is eliminated in consolidation. Intersegment revenues were eliminated in consolidation as follows:
|  | Three Months Ended |
|  | September 30 |
(In thousands) |  | 2015 |  |  | 2014 |
Lighting Segment inter-segment net sales |  | $ | 614 |  |  | $ | 1,052 |
Graphics Segment inter-segment net sales |  | $ | 444 |  |  | $ | 131 |
Technology inter-segment net sales |  | $ | 9,384 |  |  | $ | 7,272 |
All other Category inter-segment net sales |  | $ | -- |  |  | $ | 308 |
The Company considers its geographic areas to be: 1) the United States, and 2) Canada. The Company’s operations are in the United States, with one operation previously in Canada. As a result of the sale of a subsidiary on September 30, 2014, the Company no longer has a presence in Canada (See Note 13). The geographic distribution of the Company’s net sales and long-lived assets are as follows:
|  | Three Months Ended |
(In thousands) |  | September 30 |
|  | 2015 |  |  | 2014 |
Net Sales (a): |  |  |  |  |  |  |  |
United States |  | $ | 85,925 |  |  | $ | 78,425 |
Canada |  |  | -- |  |  |  | 41 |
|  | $ | 85,925 |  |  | $ | 78,466 |
|  | September 30, |  |  | June 30, |
|  | 2015 |  |  | 2015 |
Long-lived Assets (b): |  |  |  |  |  |  |  |
United States |  | $ | 45,347 |  |  | $ | 44,965 |
Canada |  |  | -- |  |  |  | -- |
|  | $ | 45,347 |  |  | $ | 44,965 |
a. | Net sales are attributed to geographic areas based upon the location of the operation making the sale.
b. | Long-lived assets include property, plant and equipment, and other long-term assets. Goodwill and intangible assets are not included in long-lived assets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
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