<SEC-DOCUMENT>0000892251-16-000217.txt : 20160421
<SEC-HEADER>0000892251-16-000217.hdr.sgml : 20160421
<ACCEPTANCE-DATETIME>20160421115438
ACCESSION NUMBER:		0000892251-16-000217
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160420
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160421
DATE AS OF CHANGE:		20160421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LSI INDUSTRIES INC
		CENTRAL INDEX KEY:			0000763532
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC LIGHTING & WIRING EQUIPMENT [3640]
		IRS NUMBER:				310888951
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13375
		FILM NUMBER:		161583350

	BUSINESS ADDRESS:	
		STREET 1:		10000 ALLIANCE RD
		STREET 2:		P O BOX 42728
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45242
		BUSINESS PHONE:		5135796411

	MAIL ADDRESS:	
		STREET 1:		10000 ALLIANCE RD
		STREET 2:		P O BOX 42728
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45242

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LSI LIGHTING SYSTEMS INC
		DATE OF NAME CHANGE:	19891121
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>form8k042116.htm
<DESCRIPTION>FORM 8-K FOR APRIL 21, 2016
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">UNITED STATES</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Washington, D.C. 20549</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">FORM 8-K</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CURRENT REPORT</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Date of Report (Date of earliest event reported):&#160; April 20, 2016</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">LSI INDUSTRIES INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">0-13375</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">31-0888951</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">10000 Alliance Road, Cincinnati, Ohio</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">45242</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(513) 793-3200</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">(Former name or former address, if changed since last report.)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">see</font> General Instruction A.2. below):</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Section&#160;2 - Financial Information</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Item 2.02 - Results of Operation and Financial Condition.</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 6pt; TEXT-INDENT: 48.95pt">On April 21, 2016 LSI Industries Inc. (the "Company") issued a press release announcing operating results for the third quarter and nine months ended March 31, 2016. A copy of the press release is attached to this Form 8-K as Exhibit 99.1 and is incorporated herein by reference.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 12pt; TEXT-INDENT: 48.95pt">The information contained herein shall not be deemed "filed" for purposes of Section&#160;18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt">Section 5 &#8211; Corporate Governance and Management</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt"><u>Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">On and effective April 20, 2016 the Board of Directors of the Company appointed John K. Morgan to the Board and as Chairman of the Compensation Committee. The Board has determined that Mr.&#160;Morgan&#160; is an independent director in accordance with guidelines that the Company has adopted, which guidelines comply with the listing standards set forth by The NASDAQ Stock Market.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#160;</font>Mr. Morgan, 61 years old, served as the Chairman, President and Chief Executive Officer of Zep Inc., a specialty chemicals company, from October 2007 until his retirement in June 2015. From July 2007 to October 2007, he served as Executive Vice President of Acuity Brands and President and Chief Executive Officer of Acuity Specialty Products, just prior to its spin off from Acuity Brands, Inc. From 2005 to July&#160;2007, he served as President and Chief Executive Officer of Acuity Brands Lighting. He also served Acuity Brands as President and Chief Development Officer from 2004 to 2005, as Senior Executive Vice President and Chief Operating Officer from 2002 to 2004, and as Executive Vice President from 2001 to 2002. Mr. Morgan has served on the Board of Directors of Wesco International,&#160; a <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, </font>since 2008 and is currently the Chairman of Wesco's Compensation Committee.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">There is no arrangement or understanding between Mr.&#160;Morgan&#160; and any other person pursuant to which Mr.&#160;Morgan&#160; was appointed as a Director of the Company, and there have been no transactions nor are there any proposed transactions between the Company and Mr.&#160;Morgan&#160; that would require disclosure pursuant to Item&#160;404(a) of Regulation S-K. Mr.&#160;Morgan&#160; will receive compensation for his service as a director in accordance with the Company's compensation policies for non-employee directors, which are described under the heading "Director Compensation" in the Company's proxy statement filed with the SEC on October 5, 2015.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt">Section&#160;9 - Financial Statements and Exhibits</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 6pt"><u>Item&#160;9.01 Financial Statements and Exhibits.</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(a)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Financial statements of business acquired.&#160;Not applicable.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(b)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pro forma financial information.&#160;Not applicable.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(c)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Shell company transactions. Not applicable</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(d)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Exhibits</div>
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<div style="TEXT-ALIGN: center"><u>Exhibit No.</u></div>
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<div style="TEXT-ALIGN: left"><u>Description</u></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">99.1</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Press Release dated April 21, 2016, reporting LSI Industries Inc. operating results for the quarter and nine months ended March 31, 2016.</div>
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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURES</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">LSI INDUSTRIES INC.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">BY:<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"> /s/ Ronald S. Stowell</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 21.6pt">Ronald S. Stowell</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 21.6pt">Vice President, Chief Financial Officer and Treasurer</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 21.6pt">(Principal Financial and Accounting Officer)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">April 21, 2016</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>form8k042116_ex99.htm
<DESCRIPTION>PRESS RELEASE DATED APRIL 21, 2016, REPORTING LSI INDUSTRIES INC. OPERATING RESULTS FOR THE QUARTER AND NINE MONTHS ENDED MARCH 31, 2016.
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: right"><u>EXHIBIT 99.1</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">CONTACT:&#160; DENNIS WELLS or</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 50%">&#160;FOR IMMEDIATE RELEASE</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 50%">RON STOWELL&#160;</td>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 50%">&#160;DATE:&#160; APRIL 21, 2016</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 50%">&#160;(513) 793-3200</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>LSI INDUSTRIES INC. REPORTS OPERATING RESULTS</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>FOR THE THIRD QUARTER AND NINE MONTHS ENDED MARCH 31, 2016,</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><u>DECLARES REGULAR CASH DIVIDEND AND APPOINTS NEW DIRECTOR</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Cincinnati, OH; April 21, 2016 &#8211; LSI Industries Inc. (NASDAQ:&#160; LYTS)</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">today</font>:</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; VERTICAL-ALIGN: top; WIDTH: 18pt; align: right">&#183;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">reported third quarter FY 2016 net sales of $70,740,000 an increase of 3% as compared to&#160; $68,603,000 in the same period of the prior fiscal year;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">reported third quarter FY 2016 net income of $522,000, or $0.02 per share, an increase of 33% as compared to $393,000, or $0.02 per share, for the same period of the prior fiscal year;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">reported nine month FY 2016 net sales of $241,352,000, an increase of 4% as compared to $231,784,000 in the prior fiscal year;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">reported nine month FY 2016 net income of $8,054,000, or $0.32 per share, an increase of 130% as compared to net income of $3,508,000, or $0.14 per share, for the prior fiscal year;</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">declared a regular quarterly cash dividend of $0.05 per share payable May 2, 2016 to shareholders of record May 10, 2016; and</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">announced the appointment of John K. Morgan, former Chairman, CEO and President of Zep Inc., to the Board of Directors.</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Financial Highlights</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 14.1%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 8.58%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.22%">&#160;</td>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(In Thousands, except per share data; unaudited)</div>
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<div style="MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>Three Months Ended March 31</u></div>
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<div style="TEXT-ALIGN: center; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>Nine Months Ended March 31</u></div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 11.34%">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>2016</u></div>
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<div style="TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>2015</u></div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 12.52%">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>% Change</u></div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 10.61%" colspan="2">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>2016</u></div>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 12.8%">
<div style="TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt"><u>2015</u></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Net Sales</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$70,740</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$68,603</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">3%</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$241,352</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$231,784</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">4%</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Operating Income as reported</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$732</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$582</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">26%</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$11,875</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$5,340</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">122%</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;Severance Costs, (income)</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">178</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(295)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;n/m</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">401</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">662</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(39%)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;Self-insured death benefit</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;&#160;&#160;--</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">1,000</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;n/m</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">1,000</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">n/m</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;Loss on sale of assets, net</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;n/m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">222</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">n/m</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Operating Income as adjusted</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$910</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$1,287</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(29%)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$12,276</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$7,224</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">70%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Net Income as reported</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$522</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$393</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">33%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$8,054</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$3,508</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">130%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Net Income as adjusted</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$639</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$842</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(24%)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$8,317</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$4,807</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">73%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Earnings per share</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;(diluted) as reported</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.32</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.14</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">129%</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Earnings per share</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 31.58%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">&#160;&#160;(diluted) as adjusted</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.34%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.03</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.52%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">-33%</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 10.61%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.33</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 12.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">$0.20</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 9.8%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">65%</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table id="12efc7fde5af48769d9c0f318554c6ca" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 18px">
<td style="VERTICAL-ALIGN: top; WIDTH: 189pt; align: right">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 99pt; align: right"><u>&#160;3/31/16</u></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal"><u>6/30/15</u></font></td>
</tr>

<tr style="HEIGHT: 14px">
<td style="VERTICAL-ALIGN: top; WIDTH: 189pt; align: right">&#160;Working Capital</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 99pt; align: right">$91,639</td>
<td style="VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">$83.967</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="VERTICAL-ALIGN: top; WIDTH: 189pt; align: right">&#160;Total Assets</td>
<td style="VERTICAL-ALIGN: top; WIDTH: 99pt; align: right">$190,262</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">$182,379&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 189pt; align: right">&#160;Long-Term Debt </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 99pt; align: right">$ nil</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">$ nil</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 189pt; align: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Shareholders' Equity</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; DISPLAY: inline-block; WIDTH: 189pt">&#160;</font></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 99pt; align: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$ 154,454</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; DISPLAY: inline-block; WIDTH: 99pt">&#160;</font></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: left; WIDTH: auto">$ 142,952</td>
</tr>
</table>
</div>
</div>

<div>&#160;</div>

<div>
<div><br>
</div>

<div>
<table id="bd5df6ba95214517b94d7e032ec09056" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 40.5pt; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 22.5pt">(a)</div>
</td>
<td style="VERTICAL-ALIGN: top; WIDTH: auto">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The Company incurred net pre-tax severance expense (income) of $178,000 and $(295,000), and $401,000 and $662,000 in the third quarter and nine month periods of fiscal 2016 and fiscal 2015, respectively.&#160; The Company sold a manufacturing facility as well as a subsidiary in the first quarter of fiscal 2015, both of which netted to a pre-tax net loss of $222,000.&#160; Additionally, the Company recorded a $1,000,000 self-insured death benefit expense in the third quarter of fiscal 2015 related to the Company's former Chairman and Chief Executive Officer. Operating income, net income, and earnings per share (diluted) before severance costs, a self-insured death benefit, the sale of assets and tax effect of the utilization of a long-term capital loss are Non-GAAP financial measures (see page 4).</div>
</td>
</tr>
</table>
</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Management Comments and Outlook</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dennis W. Wells, Chief Executive Officer and President, commented, "I am pleased that LSI was profitable in the third quarter, our seasonally weakest period of the fiscal year.&#160; However, it should have been much better.&#160; The substantial and continuous progress we have made in improving operating margins was blunted during the third quarter by the need to book an additional $1.0 million of warranty expense.&#160; This issue is being thoroughly investigated and resulted primarily from problems with LED drivers.&#160; We no longer sell the problem drivers, and we have targeted reducing our level of warranty claims as a high priority objective."</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Steady progress continues to be made in reducing operating expenses and improving efficiencies.&#160; Our company-wide, lean-transformation programs and the benefits of the LSI Business System are producing desired results with a long runway of potential improvements ahead."</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Sales growth, though modest, resumed in the third quarter and the outlook is very positive.&#160; LSI recently secured contract extensions with three of our most important petroleum customers that range from three-to-seven years.&#160; These contracts represent over 25,000 petroleum sites across the United States as LSI implements its Lighting + Graphics + Technology = Image capabilities to provide world class service and image solutions to our customers.&#160; We are active on multiple fronts to accelerate sales and show potential customers the LSI difference."</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">I am pleased to announce the appointment of John K. Morgan to the Board of Directors of LSI Industries.&#160; Mr. Morgan served as Chairman, President and CEO of Zep Inc. from October 2007 until his retirement in June 2015.&#160; Prior to joining Zep, Mr. Morgan held several positions at Acuity Brands from 2001 through 2007, including Executive Vice President of Acuity Brands and President and CEO of Acuity Specialty Products.&#160; Mr. Morgan has extensive experience in the lighting industry, and I welcome his contribution to our Board of Directors."</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">As stated previously, but worth repeating, my mission and that of the LSI management team is to achieve higher earnings, increase cash dividends and develop shareholder value.&#160; Greater efficiencies resulting in higher profit margins, combined with increasing sales, produces very attractive operating leverage.&#160; We know what we need to do and are focused on implementing our plans to accomplish our goals."</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Fiscal 2016 will likely be LSI's most profitable year since fiscal 2007.&#160; We are confident that fiscal 2017 will be even better as we move forward to increase sales and improve profit margins."</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Our final quarter of fiscal 2016 is shaping up to be strong and I look forward to reporting significantly improved fourth quarter and fiscal 2016 operating results to you."</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Third Quarter Fiscal 2016 Results</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Net sales in the third quarter of fiscal 2016 were $70,740,000, an increase of 3% as compared to last year's third quarter net sales of $68,603,000.&#160; Lighting Segment net sales increased 1.0% to $49,331,000, Graphics Segment net sales increased 28.4% to $17,162,000, and Technology Segment net sales (excluding significant intersegment net sales) decreased 33.3% to $4,247,000.&#160; After consideration of the Technology Segment's intersegment sales in support of LED products manufactured and sold by the Lighting Segment, this segment's net sales were level with third quarter of the prior year.&#160; In the third quarters of fiscal 2016 and fiscal 2015 the Company recorded a pre-tax severance cost expense (income) of $178,000 and $(295,000), respectively, and recorded a pre-tax self-insured death benefit of $1,000,000 in the third quarter of fiscal 2015.&#160; The fiscal 2016 third quarter net income of $522,000, or $0.02 per share, increased 33% over the fiscal 2015 third quarter net income of $393,000 or $0.02 per share.&#160; Earnings per share represents diluted earnings per share.</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Nine Month Fiscal 2016 Results</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Net sales in the first nine months of fiscal 2016 were $241,352,000, an increase of 4% as compared to last year's nine month net sales of $231,784,000.&#160; Lighting Segment net sales increased 2.2% to $168,007,000, Graphics Segment net sales increased 20.7% to $59,949,000, Technology Segment net sales (excluding significant intersegment net sales) decreased 24.3% to $13,396,000 and All Other Category net sales decreased to zero as a result of the sale early in fiscal 2015 of the only subsidiary reported therein.&#160; After consideration of the Technology Segment's intersegment sales in support of LED products manufactured and sold by the Lighting Segment, this segment's net sales increased 3.0% in the first nine months of fiscal 2016.&#160; The Company recorded $401,000 and $662,000 of pre-tax severance costs in the first nine months of fiscal 2016 and fiscal 2015, respectively.&#160; Also in the first nine months of fiscal 2015 the Company recorded a $1,000,000 pre-tax self-insured death benefit, a $343,000 pre-tax gain on the sale of a manufacturing facility in the Graphics Segment, sold a subsidiary that had been reported in the All Other Category for $1,928,000 and recorded a pre-tax loss of $565,000 in Corporate Administrative expenses, and recorded a $101,000 income tax benefit related to the utilization of a portion of this long-term capital loss, all with no comparable items in fiscal 2016.&#160; The nine month fiscal 2016 net income of $8,054,000, or $0.32 per share, increased 130% from fiscal 2015 nine month net income of $3,508,000, or $0.14 per share.&#160; Earnings per share represents diluted earnings per share.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Balance Sheet</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The balance sheet at March 31, 2016 included current assets of $125.1 million, current liabilities of $33.4 million and working capital of $91.6 million, which includes cash of $33.8 million.&#160; The current ratio was 3.7 to 1.&#160; The Company has shareholders' equity of $154.5 million, no long-term debt, and borrowing capacity on its commercial bank facility as of March 31, 2016 of $30.0 million.&#160; With continued strong cash flow, a sound and conservatively capitalized balance sheet, and $30 million in credit facilities, LSI Industries believes its financial condition is sound and capable of supporting the Company's planned growth, including acquisitions, if any.</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash Dividend Actions</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The Board of Directors declared a regular quarterly cash dividend of $0.05 per share in connection with the third quarter of fiscal 2016 payable May 10, 2016 to shareholders of record as of May 2, 2016.&#160; The indicated annual cash dividend rate is $0.20 per share. The Board of Directors has adopted a policy regarding dividends which indicates that dividends will be determined by the Board of Directors in its discretion based upon its evaluation of earnings, cash flow requirements, financial condition, debt levels, stock repurchases, future business developments and opportunities, and other factors deemed relevant.</div>

<div><br>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Non-GAAP Financial Measures</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">This press release includes adjustments to GAAP net income and earnings per share for the three and nine month periods ended March 31, 2016 and March 31, 2015.&#160; Adjusted net income and earnings per share, which exclude the impact of severance costs, a self-insured death benefit, the sale of a manufacturing facility, the sale of a subsidiary, and the tax benefit of utilization of a portion of the related long-term capital loss are non-GAAP financial measures.&#160; We believe that these are useful as supplemental measures in assessing the operating performance of our business.&#160; These measures are used by our management, including our chief operating decision maker, to evaluate business results.&#160; We exclude these non-recurring items because they are not representative of the ongoing results of operations of our business.&#160; Below is a reconciliation of these non-GAAP financial measures to the net income and earnings per share reported for the periods indicated.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">&#160;</div>
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<div>
<table id="f7912656ec3c40cbbe38532cd357b448" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">(in thousands, except per share data; unaudited)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; WIDTH: 57.67%" colspan="4">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center"><u>Nine Month Period</u></div>
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</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; FONT-STYLE: normal; WIDTH: 42.33%"></td>
<td style="FONT-SIZE: 10pt; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: right; WIDTH: 11.84%">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000"><u>FY 2016</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: right; WIDTH: 16.99%">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000"><u>Diluted EPS</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: right; WIDTH: 11.84%">
<div style="FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000"><u>FY 2015</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-TOP-COLOR: ; FONT-VARIANT: normal; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: right; BORDER-RIGHT-COLOR: ; WIDTH: 16.99%; BORDER-LEFT-COLOR: ">
<div><u>Diluted EPS</u></div>
</td>
</tr>

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<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Reconciliation of net income to adjusted net income:</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Net income and earnings per share as reported</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$8,054</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.32</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$3,508</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.14</div>
</td>
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<tr style="HEIGHT: 16px">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Adjustment for severance costs,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;inclusive of the income tax effect</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">263</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">0.01</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">422</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">0.02</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 54.18%" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Adjustment for self-insured death benefit</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;expense, inclusive of the income tax effect</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">637</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">0.03</div>
</td>
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<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Adjustment for the gain on the</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;sale of a manufacturing facility,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;inclusive of the income tax effect</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">(224)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">(0.01)</div>
</td>
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<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Adjustment for the loss on sale of a subsidiary</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">565</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">0.02</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Income tax effect of utilization of a long-term capital loss</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">(101)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 11.84%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 42.33%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Adjusted net income and earnings per share</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$8,317</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.33</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 11.84%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$4,807</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.99%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.20</div>
</td>
</tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995</div>

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</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">This document contains certain forward-looking statements that are subject to numerous assumptions, risks or uncertainties.&#160;&#160;The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements.&#160;&#160;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.&#160;&#160;Such statements, whether expressed or implied, are based upon current expectations of the Company and speak only as of the date made.&#160;&#160;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.&#160;&#160;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, 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.&#160;&#160;You are cautioned to not place undue reliance on these forward-looking statements.&#160;&#160;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.&#160;&#160;The Company does not undertake and hereby disclaims any duty to update any forward-looking statements to reflect subsequent events or circumstances.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">About the Company</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">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.&#160; Our core strategy of "Lighting + Graphics + Technology = Complete Image Solutions" differentiates us from our competitors.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">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.&#160; We have a vast offering of innovative solutions for virtually any lighting or graphics application.&#160; In addition, we provide sophisticated lighting and energy management control solutions to help customers manage their energy performance.&#160; Further, we provide a full range of design support, engineering, installation and project management services to our customers.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">We are a vertically integrated U.S.-based manufacturer concentrating on serving customers in North America and Latin America.&#160; Our major markets include commercial / industrial lighting, petroleum / convenience store and multi-site retail (including automobile dealerships, restaurants and national retail accounts).&#160; Headquartered in Cincinnati, Ohio, LSI has facilities in Ohio, California, Kansas, Kentucky, New York, North Carolina, Oregon, Rhode Island and Texas.&#160; The Company's common shares are traded on the NASDAQ Global Select Market under the symbol LYTS.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For further information, contact </font>either Dennis Wells, Chief Executive Officer and President, or Ron Stowell, Vice President, Chief Financial Officer, and Treasurer at (513) 793-3200.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Additional note:&#160; </font>&#160; Today's news release, along with past releases from LSI Industries, is available on the Company's internet site at <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">www.lsi-industries.com</font> or by email or fax, by calling the Investor Relations Department at (513) 793-3200.</div>

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<div style="TEXT-ALIGN: left"><u>Condensed Consolidated Statements of Operations</u></div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 44.42%" colspan="3">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
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<tr style="HEIGHT: 14px">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">(in thousands, except per share data; unaudited)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-TOP-COLOR: ; FONT-VARIANT: normal; VERTICAL-ALIGN: middle; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: center; BORDER-RIGHT-COLOR: ; WIDTH: 30.5%; BORDER-LEFT-COLOR: " colspan="2">
<div><u>Three Months Ended March 31</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-TOP-COLOR: ; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 29.36%; BORDER-LEFT-COLOR: " colspan="2">
<div style="TEXT-ALIGN: center"><u>Nine Months Ended March 31</u></div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">2016</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">2015</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$70,740</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$68,603</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$241,352</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$231,784</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Cost of products and services sold</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">54,191</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">52,298</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">177,528</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">176,316</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Gross profit</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">16,549</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">16,305</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">63,824</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">55,468</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Selling and administrative expenses</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">15,817</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #5f497a; TEXT-ALIGN: right">15,723</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">51,949</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">50,128</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Operating income</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">732</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">582</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">11,875</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">5,340</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr style="HEIGHT: 18px">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Interest (income) expense, net</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">(19)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">3</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">(27)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">17</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Income before income taxes</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">751</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">579</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">11,902</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">5,323</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Income tax expense</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">229</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">186</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">3,848</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">1,815</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Net income</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$522</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$393</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$8,054</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$3,508</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Income per common share</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Basic</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.32</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.14</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Diluted</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.32</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$0.14</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Weighted average common shares outstanding</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 16.94%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.56%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 13.92%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 15.44%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Basic</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">25,080</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">24,528</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">24,918</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">24,470</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 40.15%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">&#160;&#160;Diluted</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 16.94%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">25,700</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.56%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">24,643</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 13.92%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">25,494</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 15.44%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">24,550</div>
</td>
</tr>
</table>

<br>
<div>
<table id="2717b32af91b4914af90d0ec04cbd486" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr style="HEIGHT: 14px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-TOP-COLOR: ; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: bold; COLOR: #000000; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 41.24%; BORDER-LEFT-COLOR: ">
<div style="TEXT-ALIGN: left"><u>Condensed Consolidated Balance Sheets</u></div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">(in thousands; unaudited)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-TOP-COLOR: ; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 30%; BORDER-LEFT-COLOR: ">
<div style="TEXT-ALIGN: center"><u>March 31, 2016</u></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; BORDER-TOP-COLOR: ; FONT-VARIANT: normal; VERTICAL-ALIGN: bottom; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; BORDER-BOTTOM-COLOR: ; BORDER-RIGHT-COLOR: ; WIDTH: 30%; BORDER-LEFT-COLOR: ">
<div style="TEXT-ALIGN: center"><u>June 30, 2015</u></div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Current Assets</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$125,082</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$120,814</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Property, Plant and Equipment, net</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">47,248</div>
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<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">43,188</div>
</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Other Assets</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">17,932</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">18,377</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$190,262</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$182,379</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Current Liabilities</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$33,443</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$36,847</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Long-Term Debt</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">--</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">&#160;&#160;--</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Other Long-Term Liabilities</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">2,365</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">2,580</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Shareholders' Equity</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">154,454</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">142,952</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$190,262</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 4px double; WIDTH: 30%">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: right">$182,379</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 41.24%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 30%">&#160;</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
