LSI Industries Inc. (NASDAQ:LYTS) Q3 2020 Earnings Conference Call - Final Transcript

Apr 23, 2020 • 11:00 am ET


LSI Industries Inc. (NASDAQ:LYTS) Q3 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the LSI Industries Fiscal Third Quarter 2020 Results Conference Call.

[Operator Instructions]

As a reminder, this conference is being recorded. On the call today are Jim Clark, President and Chief Executive Officer; and Jim Galeese, Chief Financial Officer. It is now my pleasure to introduce your host, Jim Galeese. Thank you, sir. You may begin.

James Galeese

Good morning, everyone we issued a press release before the market open this morning, detailing our fiscal third quarter results. In conjunction with this release, we also posted a conference call presentation in the Investor Relations portion of our corporate website at Information contained in this presentation will be referenced throughout today's conference call. I would like to remind you that management's commentary and responses to today's conference call may include forward-looking statements about our business outlook.

Such statements involve risks and opportunities and actual results could differ materially. I refer you to our safe harbor statement, which appears in this morning's press release as well as our most recent 10-K and 10-Q. Today's call will begin with remarks summarizing our fiscal third quarter results. At the conclusion of these prepared remarks, we will open the line for questions. With that, I'll turn the call over to LSI President and Chief Executive Officer, Jim Clark.

James Clark

Thank you, Jim. Good morning all, and thank you for taking the time to join us today. As I start today's call, I would like to address 3 items right up front that might help frame things up. First, I would like to acknowledge that we're in a strange time. The challenges that we're facing as a global community is of unprecedented nature. Few of us could have imagined 2 months ago that we would be in the middle of a global pandemic. With that in mind, I want to wish you and all your family safety from this challenge. And on behalf of LSI, I want to give thanks to the men and women that are on the front lines fighting through this.

Number two, I want to acknowledge the efforts of the folks at LSI that have worked tirelessly to keep our employees safe, maintain business continuity and continue to deliver much-needed solutions to our customers. LSI was categorized as essential services group early on. We proactively reached out to various resources to assure we could provide a safe environment for our employees and to confirm with various government agencies that we are working in a safe manner and one that was consistent with changing stay-at-home orders. Throughout this trial, we have provided a number of services and products that directly address some of the challenges associated with this fight, including lighting products for temporary and permanent medical facilities and COVID-related graphics and signage for a number of our customers, including grocery, pharma, petroleum, and we've even engaged our electronics fabrication facility in the manufacture of an experimental patient monitoring device that could prove to be a valuable tool for our medical community in