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WIKI ANALYSIS
LSI Industries (NASDAQ: LYTS) makes visual displays and graphics which are purchased primarily by gas stations and convenience stores. The company makes solid-state LED videos screens, lights, and billboards. Frequently, the gas station chains use these to display gas prices or to attract customers. These products are also used by some restaurant chains and sports stadiums. LSI focuses on custom productions for large clients. There capabilities range from the design and planning stage all the way to the installation. As a result, many chains outsource the entire display project to LSI.[1] For the full year 2010, LSI Industries reported a total revenue of $254M and a net income of $1.4M.[2]
Because the displays are meant for retail establishments, LSI's products tend to be relatively low cost LEDs that are optimized for durability and visibility. This allows LSI to maintain the costs of the LEDs themselves low, and so they are able to increase the level of customization offered to each customer. Changes in price of LEDs or the raw materials that go into LED displays - steel, glass, electronics - could make LSI's business model uncompetitive. Rather than using LED displays, gas station chains and other restaurants may have an incentive to switch to more traditional displays.[3]
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