LSI Industries (LYTS) 10-Q 6 Nov 17 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Oct. 27, 2017
Document Information [Line Items]
Entity Registrant Name	LSI INDUSTRIES INC
Entity Central Index Key	763,532
Trading Symbol	lyts
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		25,791,814
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Sep. 30, 2017	Sep. 30, 2016
Net sales		$ 87,466	$ 84,159
Cost of products and services sold		63,763	62,821
Restructuring costs			503
Gross profit		23,703	20,835
Restructuring costs			153
Impairment of goodwill		28,000
Selling and administrative expenses		20,517	19,616
Operating (loss) income		(24,814)	1,066
Interest (income)		(8)	(27)
Interest expense		411	13
(Loss) Income before income taxes		(25,217)	1,080
Income tax (benefit) expense		(9,588)	251
Net (loss) Income		$ (15,629)	$ 829
(Loss) Earnings per common share (see Note 4)
Basic (in dollars per share)		$ (0.61)	$ 0.03
Diluted (in dollars per share)		$ (0.61)	$ 0.03
Weighted average common shares outstanding
Basic (in shares)		25,791	25,275
Diluted (in shares)	[1]	25,791	25,912
[1]	Options to purchase 3,671,340 common shares and 1,654,450 common shares at September 30, 2017 and 2016, respectively, were not included in the computation of the three month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares. For the three months ended September 30, 2017, the effect of dilutive securities was not included in the calculation of diluted earnings per share because there was a net operating loss for the period.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
ASSETS
Cash and cash equivalents	$ 2,120	$ 3,039
Accounts receivable, less allowance for doubtful accounts of $436 and $293, respectively	54,252	48,880
Inventories	49,182	50,008
Refundable income taxes		775
Assets held for sale		1,463
Other current assets	3,420	2,964
Total current assets	108,974	107,129
Property, Plant and Equipment, at cost
Land	6,469	6,429
Buildings	35,686	35,463
Machinery and equipment	81,790	78,804
Construction in progress	652	3,805
	124,597	124,501
Less accumulated depreciation	(78,615)	(77,147)
Net property, plant and equipment	45,982	47,354
Goodwill	30,538	58,538
Other Intangible Assets, net	37,479	38,169
Other Long-Term Assets, net	16,216	5,490
Total assets	239,189	256,680
LIABILITIES & SHAREHOLDERS’ EQUITY
Accounts payable	17,842	19,356
Accrued expenses	23,504	26,069
Total current liabilities	41,346	45,425
Long-Term Debt	51,862	49,698
Other Long-Term Liabilities	1,587	1,479
Commitments and Contingencies (Note 12)
Shareholders’ Equity
Preferred shares, without par value; Authorized 1,000,000 shares, none issued
Common shares, without par value; Authorized 40,000,000 shares; Outstanding 25,535,362 and 24,997,531 shares, respectively	121,490	120,259
Retained earnings	22,904	39,819
Total shareholders’ equity	144,394	160,078
Total liabilities & shareholders’ equity	$ 239,189	$ 256,680

Condensed Consolidated Balance4

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Allowance for doubtful accounts	$ 436	$ 293
Preferred shares, par value (in dollars per share)	$ 0	$ 0
Preferred shares, authorized shares (in shares)	1,000,000	1,000,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in dollars per share)	$ 0	$ 0
Common shares, authorized (in shares)	40,000,000	40,000,000
Common shares, outstanding (in shares)	25,535,362	24,997,531

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net (loss) income	$ (15,629,000)	$ 829,000
Non-cash items included in net income:
Depreciation and amortization	2,572,000	1,835,000
Deferred income taxes	(10,815,000)	(825,000)
Impairment of goodwill	28,000,000
Deferred compensation plan	(413,000)	198,000
Stock compensation expense	984,000	1,741,000
Issuance of common shares as compensation	78,000	103,000
Loss on disposition of fixed assets	(31,000)	1,000
Fixed asset impairment		273,000
Allowance for doubtful accounts	49,000	113,000
Inventory obsolescence reserve	143,000	573,000
Changes in certain assets and liabilities – excluding sale of subsidiary
Accounts receivable	(5,421,000)	628,000
Inventories	683,000	(32,000)
Refundable income taxes	775,000
Accounts payable	(1,559,000)	121,000
Accrued expenses and other	(3,243,000)	(5,487,000)
Customer prepayments	419,000	268,000
Net cash flows (used in) provided by operating activities	(3,408,000)	339,000
Cash Flows from Investing Activities
Proceeds from the sale of assets	1,527,000
Purchases of property, plant and equipment	(498,000)	(1,960,000)
Net cash flows provided by (used in) investing activities	1,029,000	(1,960,000)
Cash Flows from Financing Activities
Payments of long-term debt	(22,247,000)
Borrowings of long-term debt	24,411,000
Cash dividends paid	(1,286,000)	(1,256,000)
Proceeds and tax benefits from exercises of stock options	115,000	58,000
Purchase of treasury shares	(106,000)	(344,000)
Issuance of treasury shares	573,000	42,000
Net cash flows provided by (used in) financing activities	1,460,000	(1,500,000)
(Decrease) in cash and cash equivalents	(919,000)	(3,121,000)
Cash and cash equivalents at beginning of period	3,039,000	33,835,000
Cash and cash equivalents at end of period	$ 2,120,000	$ 30,714,000

Note 1 - Interim Condensed Cons

Note 1 - Interim Condensed Consolidated Financial Statements	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Condensed Financial Statements [Text Block]	NOTE 1 - INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The interim condensed consolidated financial statements are unaudited and are prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, and rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the interim financial statements include all normal adjustments and disclosures necessary to present fairly the Company’s financial position as of September 30, 2017, three September 30, 2017 2016, three September 30, 2017 2016. 2017 10 June 30, 2017

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation: The consolidated financial statements include the accounts of LSI Industries Inc. (an Ohio corporation) and its subsidiaries (collectively, the “Company”), all of which are wholly owned. All intercompany transactions and balances have been eliminated in consolidation. Revenue Recognition: Revenue is recognized when title to goods and risk of loss have passed to the customer, there is persuasive evidence of a purchase arrangement, delivery has occurred or services have been rendered, and collectability is reasonably assured. Sales are recorded net of estimated returns, rebates and discounts. Amounts received from customers prior to the recognition of revenue are accounted for as customer pre-payments and are included in accrued expenses. The Company has five revenue from product sales; revenue from installation of products; service revenue generated from providing integrated design, project and construction management, site engineering and site permitting, and commissioning of lighting controls; revenue from the management of media content and digital hardware related to active digital signage; and revenue from shipping and handling. Product revenue is recognized on product-only orders upon passing of title and risk of loss, generally at time of shipment. In certain arrangements with customers, as is the case with the sale of some of our solid-state LED (light emitting diode) video screens, revenue is recognized upon customer acceptance of the video screen at the job site. Product revenue related to orders where the customer requires the Company to install the product is recognized when the product is installed. The Company provides product warranties and certain post-shipment service, support and maintenance of certain solid state LED video screens. Installation revenue is recognized when the products have been fully installed. The Company is not no Service revenue from integrated design, project and construction management, and site permitting is reco gnized when all products at a customer site have been installed. Revenue from the management of media content and digital hardware related to active digital signage is recognized evenly over the service period with the customer. Media content service periods with most customers range from one one Shipping and handling revenue coincides with the recognition of revenue from sale of the product . In situations where the Company is responsible for re-imaging programs with multiple sites, each site is viewed as a separate unit of accounting and has stand-alone value to the customer. Revenue is recognized upon the Company ’s complete performance at the location, which may The Company also evaluates the appropriateness of revenue recognition in accordance with the accounting standards on software revenue recognition. Our solid-state LED video screens and active digital signage contain software elements which the Company has determined are incidental. Credit and Collections: T he Company maintains allowances for doubtful accounts receivable for probable estimated losses resulting from either customer disputes or the inability of its customers to make required payments. If the financial condition of the Company’s customers were to deteriorate, resulting in their inability to make the required payments, the Company may first The following table presents the Company ’s net accounts receivable at the dates indicated. (In thousands) September 30 , June 30, 201 7 201 7 Accounts receivable $ 54,688 $ 49,386 Less: Allowance for doubtful accounts (436 ) (506 ) Accounts receivable, net $ 54,252 $ 48,880 Cash and Cash Equivalents: The cash balance includes cash and cash equivalents which have original maturities of less than three In the United States, the FDIC limit for insurance coverage on non-interest bearing accounts is $250,000. As of September 30, 2017 June 30, 2017, $5,080,127 $4,615,000, Inventories and Inventory Reserves: Inventories are stated at the lower of cost or market. Cost of inventories includes the cost of purchased raw materials and components, direct labor, as well as manufacturing overhead which is generally applied to inventory based on direct labor and on material content. Cost is determined on the first first The Company maintains an inventory reserve for obsolete and excess inventory. The Company first . Property, Plant and Equipment and Related Depreciation: Property, plant and equipment are stated at cost. Major additions and betterments are capitalized while maintenance and repairs are expensed. For financial reporting purposes, depreciation is computed on the straight-line method over the estimated useful lives of the assets as follows: Buildings (years) 28 - 40 Machinery and equipment (years) 3 - 10 Computer software (years) 3 - 8 Costs related to the purchase, internal development, and implementation of the Company ’s fully integrated enterprise resource planning/business operating software system are either capitalized or expensed. Leasehold improvements are depreciated over the shorter of fifteen The Company recorded $1,882,000 $1,728,000 first 2018 2017, Goodwill and Intangible Assets: Intangible assets consisting of customer relationships, trade names and trademarks, patents, technology and software, and non-compete agreements are recorded on the Company's balance sheet. The definite-lived intangible assets are being amortized to expense over periods ranging between seven twenty 7. Fair Value: The Company has financial instruments consisting primarily of cash and cash equivalents, revolving lines of credit, accounts receivable, accounts payable, and long-term debt. The fair value of these financial instruments approximates carrying value because of their short-term maturity and/or variable, market-driven interest rates. The Company has no Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in goodwill and other intangible asset impairment analyses, long-lived asset impairment analyses and in the purchase price of acquired companies. In certain cir cumstances, a triggering event occurs such that a non-financial asset such as goodwill is required to be evaluated for impairment and deemed impaired. The accounting guidance on fair value measurement was used to measure the fair value of these nonfinancial assets and nonfinancial liabilities. In accordance with FASB Codification Topic 350 20, $57,373,000 $29,373,000, $28,000,000, Fair Value Measurements Using Description Quarter Ended 9/30/2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable inputs (Level 2) Significant Unobservable inputs (Level 3) Total Gains (Losses) Lighting Segment Goodwill $ 29,373,000 $ 29,373,000 $ (28,000,000 ) Product Warranties: The Company offers a limited warranty that its products are free from defects in workmanship and materials. The specific terms and conditions vary somewhat by product line, but generally cover defective products returned within one five 10 Changes in the Company ’s warranty liabilities, which are included in accrued expenses in the accompanying consolidated balance sheets, during the periods indicated below were as follows: Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 201 7 201 6 201 7 Balance at beginning of the period $ 7,560 $ 5,069 $ 5,069 Additions charged to expense 927 903 4,956 Addition for acquired company 907 Deductions for repairs and r eplacements (1,818 ) (624 ) (3,372 ) Balance at end of the period $ 6,669 $ 5,348 $ 7,560 Research and Development Costs: Research and development costs are directly attributable to new product development, including the development of new technology for both existing and new products, and consist of salaries, payroll taxes, employee benefits, materials, outside legal costs and filing fees related to obtaining patents, supplies, depreciation and other administrative costs. The Company expenses as research and development all costs associated with development of software used in solid-state LED products. All costs are expensed as incurred and are included in selling and administrative expenses. Research and development costs related to both product and software development totaled $1,562,000 $1,401,000 three September 30, 2017 2016, Cost of Products and Services Sold: Cost of products sold is primarily comprised of direct materials and supplies consumed in the manufacture of products, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of products sold also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity. Cost of services sold is primarily comprised of the internal and external labor costs required to support the Company’s service revenue along with the management of media content. Earnings Per Common Share: The computation of basic earnings per common share is based on the weighted average common shares outstanding for the period net of treasury shares held in the Company ’s nonqualified deferred compensation plan. The computation of diluted earnings per share is based on the weighted average common shares outstanding for the period and includes common share equivalents. Common share equivalents include the dilutive effect of stock options, restricted stock units, stock warrants, contingently issuable shares and common shares to be issued under a deferred compensation plan, all of which totaled 286,000 914,000 three September 30, 2017 2016, 4. Income Taxes: The Company accounts for income taxes in accordance with the accounting guidance for income taxes. Accordingly, deferred income taxes are provided on items that are reported as either income or expense in different time periods for financial reporting purposes than they are for income tax purposes. Deferred income tax assets are reported on the Company’s balance sheet. Significant management judgment is required in developing the Company’s income tax provision, including the estimation of taxable income and the effective income tax rates in the multiple taxing jurisdictions in which the Company operates, the estimation of the liability for uncertain income tax positions, the determination of deferred tax assets and liabilities, and any valuation allowances that might be required against deferred tax assets. New Accounting Pronouncements: In June 2014, 2014 09, April 2016, 2016 10, May 2016, 2016 12, December 2016, 2016 20, 606, three 2014 09 December 15, 2017, 2019. no July 1, 2018. not not may may six nine In February 2016, 2016 02, December 15, 2018, ’s fiscal year 2020, not In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting.” This amended guidance simplifies several aspects of the accounting for share-based payment award transactions. The amended guidance is effective for financial statements issued for fiscal years and interim periods within those years, beginning after December 15, 2016, 2018. July 1, 2017 $81,010 three September 30, 2017. may not may July 1, 2017, not no In January 2017, 2017 04, December 15, 2019, ’s fiscal year 2021. 7 Comprehensive Income: The Company does not Subsequent Events: The Company has evaluated subsequent events for potential recognition and disclosure through the date the consolidated financial statements were filed. No Use of Estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Note 3 - Segment Reporting Info

Note 3 - Segment Reporting Information	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 3 SEGMENT REPORTING INFORMATION The accounting guidance on Segment Reporting establishes standards for reporting information regarding operating segments in annual financial statements and requires selected information of those segments to be presented in financial statements. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (the Company’s Chief Executive Officer or “CODM”) in making decisions on how to allocate resources and assess performance. In the first 2018, two Corporate and Eliminations, which captures the Company’s corporate administrative activities, is also reported in the segment information. The Lighting Segment includes outdoor and indoor lighting utilizing both traditional and LED light sources that have been fabricated and assembled for the commercial /industrial market, the petroleum / convenience store market, the automotive dealership market, the quick service restaurant market, along with other markets the Company serves. The Lighting Segment also includes the design, engineering, and manufacturing of electronic circuit boards, assemblies and sub-assemblies used to manufacture certain LED light fixtures and sold directly to customers. The Graphics Segment designs, manufactures and installs exterior and interior visual image elements such as traditional graphics, interior branding, electrical and architectural signage, active digital signage along with the management of media content related to digital signage, LED video screens, and menu board systems that are either digital or traditional by design. These products are used in visual image programs in several markets including, but not The Company ’s corporate administration activities are reported in the Corporate and Eliminations line item. These activities primarily include intercompany profit in inventory eliminations, expense related to certain corporate officers and support staff, the Company’s internal audit staff, expense related to the Company’s Board of Directors, stock option expense for options granted to corporate administration employees, certain consulting expenses, investor relations activities, and a portion of the Company’s legal, auditing and professional fee expenses. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes (if any), and deferred income taxes. There was no three September 30, 201 7 2016. no September 30, 2017 June 30, 2017. Summarized financial information for the Company ’s operating segments is provided for the indicated periods and as of September 30, 2017 September 30, 2016: Three Months Ended ( In thousands) September 30 201 7 201 6 Net Sales: Lighting Segment $ 68,428 $ 65,265 Graphics Segment 19,038 18,894 $ 87,466 $ 84,159 Operating Income (Loss): Lighting Segment $ (22,930 ) $ 3,091 Graphics Segment 1,476 1,017 Corporate and Eliminations (3,360 ) (3,042 ) $ (24,814 ) $ 1,066 Capital Expenditures: Lighting Segment $ 261 $ 1,096 Graphics Segment 182 366 Corporate and Eliminations 55 498 $ 498 $ 1,960 Depreciation and Amortization: Lighting Segment $ 1,901 $ 1,192 Graphics Segment 379 360 Corporate and Eliminations 292 283 $ 2,572 $ 1,835 September 30, 201 7 June 30, 201 7 Identifiable Assets: Lighting Segment $ 182,796 $ 214,070 Graphics Segment 35,315 33,144 Corporate and Eliminations 21,078 9,466 $ 239,189 $ 256,680 The segment net sales reported above represent sales to external customers. Segment operating income, which is used in management’s evaluation of segment performance, represents net sales less all operating expenses. Identifiable assets are those assets used by each segment in its operations. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes (if any), and deferred income tax assets. The Company records a 10% Three Months Ended September 30 (In thousands) 201 7 201 6 Lighting Segment inter-segment net sales $ 715 $ 753 Graphics Segment inter-segment net sales $ 31 $ 132 The Company ’s operations are located solely within the United States. As a result, the geographic distribution of the Company’s net sales and long-lived assets originate within the United States.

Note 4 - Earnings Per Common Sh

Note 4 - Earnings Per Common Share	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 4 - EARNINGS PER COMMON SHARE The following table presents the amounts used to compute basic and diluted earnings per common share, as well as the effect of dilutive potential common shares on weighted average shares outstanding (in thousands, except per share data): Three Months Ended September 30 201 7 201 6 BASIC EARNINGS (LOSS) PER SHARE Net income (loss) $ (15,629 ) $ 829 Weighted average shares outstanding, net of treasury shares (a) 25,505 24,998 Weighted average vested restricted stock units outstanding 41 37 Weighted average shares outstanding in the Deferred Compensation Plan 245 240 Weighted average shares outstanding 25,791 25,275 Basic earnings (loss) per share $ (0.61 ) $ 0.03 DILUTED EARNINGS (LOSS) PER SHARE Net income (loss) $ (15,629 ) $ 829 Weighted average shares outstanding Basic 25,791 25,275 Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any -- 637 Weighted average shares outstanding (c) 25,791 25,912 Diluted earnings (loss) per share $ (0.61 ) $ 0.03 (a) Includes shares accounted for like treasury stock. (b) Calculated using the “Treasury Stock” method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period. (c) Options to purchase 3,791,936 1,654,450 September 30, 2017 2016, not three For the three September 30, 2017, not

Note 5 - Inventories

Note 5 - Inventories	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 - INVENTORIES The following information is provided as of the dates indicated: September 30, June 30, (In thousands) 201 7 201 7 Inventories: Raw materials $ 31,332 $ 32,421 Work-in-process 3,449 3,527 Finished goods 14,401 14,060 Total Inventories $ 49,182 $ 50,008

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE 6 - ACCRUED EXPENSES The following information is provided as of the dates indicated: September 30, June 30, (In thousands) 201 7 201 7 Accrued Expenses: Compensation and benefits $ 6,867 $ 9,759 Customer prepayments 1,480 1,061 Accrued sales commissions 1,986 2,314 Accrued warranty 6,669 7,560 Other accrued expenses 6,502 5,375 Total Accrued Expenses $ 23,504 $ 26,069

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 7 - GOODWILL AND OTHER INTANGIBLE ASSETS Carrying values of goodwill and other intangible assets with indefinite lives are reviewed at least annually for possible impairment. The Company may first not not no not not first ’s impairment testing continues with the estimation of the fair value of reporting units and indefinite-lived intangible assets using a combination of a market approach and an income (discounted cash flow) approach, at the reporting unit level. The estimation of the fair value of reporting units and intangible assets requires significant management judgment with respect to revenue and expense growth rates, changes in working capital and the selection and use of an appropriate discount rate. The estimates of fair value of reporting units are based on the best information available as of the date of the assessment. The use of different assumptions would increase or decrease estimated discounted future operating cash flows and could increase or decrease an impairment charge. Company management uses its judgment in assessing whether assets may may The Company identified its reporting units in conjunction with its annual goodwill impairment testing. The Company has a total of three two one 3 not A sustained and significant decline in the Company’s stock price in the first 2018 one September 30, 2017. ASU 2017 04, 2 not $28,000,000. The following table presents information about the Company's goodwill on the dates or for the periods indicated : Goodwill (In thousands) Lighting Graphics Segment Segment Total Balance as of June 30, 2017 Goodwill $ 94,564 $ 28,690 $ 123,254 Accumulated impairment losses (37,191 ) (27,525 ) (64,716 ) Goodwill, net as of June 30, 2017 $ 57,373 $ 1,165 $ 58,538 Goodwill Impairment (28,000 ) -- (28,000 ) Balance as of September 30, 2017 Goodwill $ 94,564 28,690 123,254 Accumulated impairment losses (65,191 ) (27,525 ) (92,716 ) Goodwill, net as of September 30, 2017 $ 29,373 $ 1,165 $ 30,538 The gross carrying amount and accumulated amortization by major other intangible asset class is as follows: September 30, 2017 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 8,471 $ 27,092 Patents 338 193 145 LED technology firmware, software 16,066 11,378 4,688 Trade name 2,658 526 2,132 Non-compete agreements 710 710 -- Total Amortized Intangible Assets 55,335 21,278 34,057 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,757 $ 21,278 $ 37,479 June 30, 2017 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 7,956 $ 27,607 Patents 338 186 152 LED technology firmware, software 16,066 11,237 4,829 Trade name 2,658 499 2,159 Non-compete agreements 710 710 - Total Amortized Intangible Assets 55,335 20,588 34,747 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,757 $ 20,588 $ 38,169 (In thousands) Amortization Expense of Other Intangible Assets September 30, 201 7 September 30, 201 6 Three Months Ended $ 690 $ 107 The Company expects to record annual amortization expense as follows: (In thousands) 201 8 $ 2,760 201 9 $ 2,760 2020 $ 2,687 2021 $ 2,682 2022 $ 2,461 After 202 2 $ 21,397

Note 8 - Revolving Line of Cred

Note 8 - Revolving Line of Credit	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - REVOLVING LINE OF CREDIT In February, 2017 secured line of credit to a $100 third 2022. 125 250 175 twelve $100 15 September 30, 2017, $51.9 $48.1 The Company is in compliance with all of its loan covenants as of September 30, 2017 .

Note 9 - Cash Dividends

Note 9 - Cash Dividends	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 9 - CASH DIVIDENDS The Company paid cash dividends of $1,286,000 $1,256,000 three September 30, 2017 2016, $29,106 $13,898 September 30, 2017 2016, October 2017, $0.05 November 14, 2017 November 6, 2017. The indicated annual cash dividend rate is $0.20

Note 10 - Equity Compensation

Note 10 - Equity Compensation	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 10 - EQUITY COMPENSATION Stock Based Compensation The Company has an equity compensation plan that was approved by shareholders in November 2012 This 2012 25% ninety 25% one 33.3% one ten 1,366,738 September 30, 2017. three September 30, 2017. September 30, 2017, 3,593,365 one 1,536,124 September 30, 2017, $3,029,686. 25 September 30, 2017 194,150 $913,907. 33 Stock Options The fair value of each option on the date of grant was estimated using the Black-Scholes option pricing model. The below listed weighted average assumptions wer e used for grants in the period indicated. Three Months Ended September 30 201 7 Dividend yield 3.4 % Expected volatility 40.9 % Risk-free interest rate 1.8 % Expected life (years) 6.0 At September 30, 201 7, 724,037 first three 2018 $5.92 $1.71 nine ten At September 30, 2016, 832,500 first three 2017 $10.08 $11.06 $3.39 $3.83 nine nine nine eleven The Company calculates stock option expense using the Black-Scholes model. Stock option expense is recorded on a straight line basis, or sooner if the grantee is retirement eligible as defined in the 2012 8.3% July 1, 2017. 2.0% 3.5% January 1, 2014 June 30, 2017. five The Company recorded $ 757,808 $1,438,443 three September 30, 2017 2016, September 30, 2017, 3,479,522 $8.21 $594,220 7.6 Information related to all stock options for the three September 30, 201 7 2016 Three Months Ended September 30, 201 7 Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Contractual Term (years) Value Outstanding at 6/30/1 7 3,119,688 $ 9.12 7.4 $ 2,332,224 Granted 724,037 $ 5.92 Forfeitures (232,171 ) $ 13.92 Exercised (18,189 ) $ 6.31 Outstanding at 9/30/1 7 3,593,365 $ 8.18 7.6 $ 646,326 Exercisable at 9/30/1 7 1,536,124 $ 8.26 5.9 $ 111,768 Three Months Ended September 30, 2016 Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Contractual Term (years) Value Outstanding at 6/30/16 2,976,490 $ 8.97 6.6 $ 8,338,974 Granted 832,500 $ 11.06 Forfeitures (140,250 ) $ 15.95 Exercised (20,813 ) $ 8.32 Outstanding at 9/30/16 3,647,927 $ 9.18 7.3 $ 8,783,980 Exercisable at 9/30/16 1,586,188 $ 8.91 5.1 $ 4.982,876 The following table presents information related to unvested stock options: Weighted-Average Grant Date Shares Fair Value Unvested at June 30, 2017 1,842,127 $ 3.52 Granted 724,037 $ 1.71 Vested (384,602 ) $ 3.58 Forfeited (124,321 ) $ 3.49 Unvested at September 30, 2017 2,057,241 $ 2.87 The weighted average grant date fair value of options granted during the three September 30, 201 7 2016 $1.71 $3.83, three September 30, 2017 2016 $20,156 $50,160, three September 30, 2017 2016 $1,377,325 $1,334,248, $114,770 $173,185 three September 30, 2017 2016, first three 2018 $104,969 $81,010 $5,973 $180,006 twelve first three 2017 $78,040 $165,856 $8,880 $183,665 twelve Restricted Stock Units A total of 91,490 $5.92 three September 30, 2017. 71,700 $11.06 three September 30, 2016. four $29,106 $13,898 September 30, 2017 2016, The following table presents information related to restricted stock units: Weighted-Average Grant Date Shares Fair Value Unvested at June 30, 2017 133,335 $ 10.38 Awarded 91,490 $ 5.92 Shares Issued (30,675 ) $ 10.30 Unvested at September 30, 2017 194,150 $ 8.29 As of September 30, 201 7, 194,150 1 10 3 9 194,150 180,984 8.3% $255,415 three September 30, 2017. As of September 30, 201 6, 118,575 2 9 3 9 118,575 113,868 September 30, 2016. 3.4% $302,301 three September 30, 2016. Director and Employee Stock Compensation Awards The Company awarded a total of 8,550 9,470 three September 30, 2017 2016, $77,976 $103,100 Deferred Compensation Plan The Company has a non-qualified deferred compensation plan providing for both Company contributions and participant deferrals of compensation. This plan is fully funded in a Rabbi Trust. All plan investments are in common shares of the Company. As of September 30, 201 7 38 241,095 $2,180,397, 257,898 $2,456,875 September 30, 2017 June 30, 2017, 31,922 $106,537 $343,700 15,225 34,587 three September 30, 2017 2016, For fiscal year 201 8, 15,225 not

Note 11 - Supplemental Cash Flo

Note 11 - Supplemental Cash Flow Information	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 1 1 - SUPPLEMENTAL CASH FLOW INFORMATION (In thousands) Three Months Ended September 30 201 7 201 6 Cash payments: Interest $ 382 $ 13 Income taxes $ -- $ 1,022

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 1 2 - COMMITMENTS AND CONTINGENCIES The Company is party to various negotiations, customer bankruptcies, and legal proceedings arising in the normal course of business. The Company provides reserves for these matters when a loss is probable and reasonably estimable. The Company does not not ’s financial position, results of operations, cash flows or liquidity. The Company may third June 30, 2017, no

Note 13 - Severance Costs

Note 13 - Severance Costs	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	NOTE 1 3 – SEVERANCE COSTS The Company recorded severance expense of $0 $145,000 three September 30, 2017 2016, not 14. The activity in the Company ’s Accrued Severance Liability is as follows for the periods indicated: Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 201 7 201 6 201 7 Balance at beginning of the period $ 235 $ 39 $ 39 Accrual of expense -- 145 523 Payments (159 ) (119 ) (313 ) Adjustments -- -- (14 ) Balance at end of the period $ 76 $ 65 $ 235

Note 14 - Restructuring Costs

Note 14 - Restructuring Costs	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 1 4 On September 22, 2016, rapid movement to LED lighting which is produced at other LSI facilities. The Company expects to continue to meet the demand for products containing fluorescent light sources as long as these products are commercially viable. All operations at the Kansas City facility ceased prior to December 31, 2016. 2017 $944,000. no 2018 . These costs primarily included employee-related costs (primarily severance), the impairment of manufacturing equipment, plant shut down costs, costs related to the preparation of the facility for sale, legal costs, and other related costs. In addition, there was also an inventory write-down of $485,000 2017. first 2017 $1,361,000 The Company also announced the consolidation of the Beaverton, Oregon facility into other LSI facilities. The light assembly of products in the Beaverton facility was moved to the Company’s Columbus, Ohio facility, and administration and engineering functions were moved to the Company’s Cincinnati, Ohio facility. This consolidation was completed September 30, 2016. $377,000 2017, not 2018. In November 2016, cket ceased prior to December 31, 2016. September 2017. $452,000 2017. no 2018. Management does not 2018. 2017 2017. T he following table presents information about restructuring costs for the periods indicated: Three Three Months Ended Months Ended (In thousands) September 30, September 30, 2017 2016 Severance and other termination benefits $ -- $ 165 Lease obligation -- 213 Impairment of fixed assets and accelerated depreciation -- 273 Other -- 5 Total $ -- $ 656 The following table presents res tructuring costs incurred by line item in the consolidated statement of operations in which the costs are included: Three Months Ended (In thousands) September 30 2016 Cost of Goods Sold $ 503 Operating Expenses 153 Total $ 656 The following table presents information about restructuring costs by segm ent for the periods indicated: Three Three Months Ended Months Ended (In thousands) September 30, September 30 2017 2016 Lighting Segment $ -- $ 545 Graphics Segment -- -- Corporate and Eliminations -- 111 Total $ -- $ 656 The following table presents a roll forward of the beginning and ending liability balances related to the restructuring costs: (In thousands) Balance as of June 30, 2017 Restructuring Expense Payments Adjustments Balance as of September 30, 2017 Severance and termination b enefits $ -- $ -- -- $ -- $ -- Lease o bligation 85 -- (43 ) -- 42 Other -- -- -- -- -- Total $ 85 $ -- $ (43 ) $ -- $ 42 Refer to Note 13 for information regarding additional severance expenses that are not

Note 15 - Income Taxes

Note 15 - Income Taxes	3 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 15 – INCOME TAXES The Company's effective income tax rate is based on expected income, statutory rates and tax planning opportunities available in the various jurisdictions in which it operates. For interim financial reporting, the Company estimates the annual income tax rate based on projected taxable income for the full year and records a quarterly income tax provision or benefit in accordance with the anticipated annual rate. The Company refines the estimates of the year's taxable income as new information becomes available, including actual year-to-date financial results. This continual estimation process often results in a change to the expected effective income tax rate for the year. When this occurs, the Company adjusts the income tax provision during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the expected income tax rate. Significant judgment is required in determining the effective tax rate and in evaluating tax positions. In the first 2018, $10.7 7 Three Months Ended September 30 201 7 201 6 Reconciliation to effective tax rate: Provision for income taxes at the anticipated annual tax rate 33.7 % 32.0 % Uncertain tax positions (0.2 ) (1.3 ) Difference betwe en deferred and current tax rate related to the impairment of goodwill 4.8 -- Deferred tax asset adjustment -- (6.7 ) Other (0.3 ) (0.8 ) Effective tax rate 38.0 % 23.2 %

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation: The consolidated financial statements include the accounts of LSI Industries Inc. (an Ohio corporation) and its subsidiaries (collectively, the “Company”), all of which are wholly owned. All intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition: Revenue is recognized when title to goods and risk of loss have passed to the customer, there is persuasive evidence of a purchase arrangement, delivery has occurred or services have been rendered, and collectability is reasonably assured. Sales are recorded net of estimated returns, rebates and discounts. Amounts received from customers prior to the recognition of revenue are accounted for as customer pre-payments and are included in accrued expenses. The Company has five revenue from product sales; revenue from installation of products; service revenue generated from providing integrated design, project and construction management, site engineering and site permitting, and commissioning of lighting controls; revenue from the management of media content and digital hardware related to active digital signage; and revenue from shipping and handling. Product revenue is recognized on product-only orders upon passing of title and risk of loss, generally at time of shipment. In certain arrangements with customers, as is the case with the sale of some of our solid-state LED (light emitting diode) video screens, revenue is recognized upon customer acceptance of the video screen at the job site. Product revenue related to orders where the customer requires the Company to install the product is recognized when the product is installed. The Company provides product warranties and certain post-shipment service, support and maintenance of certain solid state LED video screens. Installation revenue is recognized when the products have been fully installed. The Company is not no Service revenue from integrated design, project and construction management, and site permitting is reco gnized when all products at a customer site have been installed. Revenue from the management of media content and digital hardware related to active digital signage is recognized evenly over the service period with the customer. Media content service periods with most customers range from one one Shipping and handling revenue coincides with the recognition of revenue from sale of the product . In situations where the Company is responsible for re-imaging programs with multiple sites, each site is viewed as a separate unit of accounting and has stand-alone value to the customer. Revenue is recognized upon the Company ’s complete performance at the location, which may The Company also evaluates the appropriateness of revenue recognition in accordance with the accounting standards on software revenue recognition. Our solid-state LED video screens and active digital signage contain software elements which the Company has determined are incidental.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Credit and Collections: T he Company maintains allowances for doubtful accounts receivable for probable estimated losses resulting from either customer disputes or the inability of its customers to make required payments. If the financial condition of the Company’s customers were to deteriorate, resulting in their inability to make the required payments, the Company may first The following table presents the Company ’s net accounts receivable at the dates indicated. (In thousands) September 30 , June 30, 201 7 201 7 Accounts receivable $ 54,688 $ 49,386 Less: Allowance for doubtful accounts (436 ) (506 ) Accounts receivable, net $ 54,252 $ 48,880
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents: The cash balance includes cash and cash equivalents which have original maturities of less than three In the United States, the FDIC limit for insurance coverage on non-interest bearing accounts is $250,000. As of September 30, 2017 June 30, 2017, $5,080,127 $4,615,000,
Inventory, Policy [Policy Text Block]	Inventories and Inventory Reserves: Inventories are stated at the lower of cost or market. Cost of inventories includes the cost of purchased raw materials and components, direct labor, as well as manufacturing overhead which is generally applied to inventory based on direct labor and on material content. Cost is determined on the first first The Company maintains an inventory reserve for obsolete and excess inventory. The Company first
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Plant and Equipment and Related Depreciation: Property, plant and equipment are stated at cost. Major additions and betterments are capitalized while maintenance and repairs are expensed. For financial reporting purposes, depreciation is computed on the straight-line method over the estimated useful lives of the assets as follows: Buildings (years) 28 - 40 Machinery and equipment (years) 3 - 10 Computer software (years) 3 - 8 Costs related to the purchase, internal development, and implementation of the Company ’s fully integrated enterprise resource planning/business operating software system are either capitalized or expensed. Leasehold improvements are depreciated over the shorter of fifteen The Company recorded $1,882,000 $1,728,000 first 2018 2017,
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Intangible Assets: Intangible assets consisting of customer relationships, trade names and trademarks, patents, technology and software, and non-compete agreements are recorded on the Company's balance sheet. The definite-lived intangible assets are being amortized to expense over periods ranging between seven twenty 7.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value: The Company has financial instruments consisting primarily of cash and cash equivalents, revolving lines of credit, accounts receivable, accounts payable, and long-term debt. The fair value of these financial instruments approximates carrying value because of their short-term maturity and/or variable, market-driven interest rates. The Company has no Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in goodwill and other intangible asset impairment analyses, long-lived asset impairment analyses and in the purchase price of acquired companies. In certain cir cumstances, a triggering event occurs such that a non-financial asset such as goodwill is required to be evaluated for impairment and deemed impaired. The accounting guidance on fair value measurement was used to measure the fair value of these nonfinancial assets and nonfinancial liabilities. In accordance with FASB Codification Topic 350 20, $57,373,000 $29,373,000, $28,000,000, Fair Value Measurements Using Description Quarter Ended 9/30/2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable inputs (Level 2) Significant Unobservable inputs (Level 3) Total Gains (Losses) Lighting Segment Goodwill $ 29,373,000 $ 29,373,000 $ (28,000,000 )
Standard Product Warranty, Policy [Policy Text Block]	Product Warranties: The Company offers a limited warranty that its products are free from defects in workmanship and materials. The specific terms and conditions vary somewhat by product line, but generally cover defective products returned within one five 10 Changes in the Company ’s warranty liabilities, which are included in accrued expenses in the accompanying consolidated balance sheets, during the periods indicated below were as follows: Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 201 7 201 6 201 7 Balance at beginning of the period $ 7,560 $ 5,069 $ 5,069 Additions charged to expense 927 903 4,956 Addition for acquired company 907 Deductions for repairs and r eplacements (1,818 ) (624 ) (3,372 ) Balance at end of the period $ 6,669 $ 5,348 $ 7,560
Research, Development, and Computer Software, Policy [Policy Text Block]	Research and Development Costs: Research and development costs are directly attributable to new product development, including the development of new technology for both existing and new products, and consist of salaries, payroll taxes, employee benefits, materials, outside legal costs and filing fees related to obtaining patents, supplies, depreciation and other administrative costs. The Company expenses as research and development all costs associated with development of software used in solid-state LED products. All costs are expensed as incurred and are included in selling and administrative expenses. Research and development costs related to both product and software development totaled $1,562,000 $1,401,000 three September 30, 2017 2016,
Cost of Sales, Policy [Policy Text Block]	Cost of Products and Services Sold: Cost of products sold is primarily comprised of direct materials and supplies consumed in the manufacture of products, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of products sold also includes the cost to distribute products to customers, inbound freight costs, internal transfer costs, warehousing costs and other shipping and handling activity. Cost of services sold is primarily comprised of the internal and external labor costs required to support the Company’s service revenue along with the management of media content.
Earnings Per Share, Policy [Policy Text Block]	Earnings Per Common Share: The computation of basic earnings per common share is based on the weighted average common shares outstanding for the period net of treasury shares held in the Company ’s nonqualified deferred compensation plan. The computation of diluted earnings per share is based on the weighted average common shares outstanding for the period and includes common share equivalents. Common share equivalents include the dilutive effect of stock options, restricted stock units, stock warrants, contingently issuable shares and common shares to be issued under a deferred compensation plan, all of which totaled 286,000 914,000 three September 30, 2017 2016, 4.
Income Tax, Policy [Policy Text Block]	Income Taxes: The Company accounts for income taxes in accordance with the accounting guidance for income taxes. Accordingly, deferred income taxes are provided on items that are reported as either income or expense in different time periods for financial reporting purposes than they are for income tax purposes. Deferred income tax assets are reported on the Company’s balance sheet. Significant management judgment is required in developing the Company’s income tax provision, including the estimation of taxable income and the effective income tax rates in the multiple taxing jurisdictions in which the Company operates, the estimation of the liability for uncertain income tax positions, the determination of deferred tax assets and liabilities, and any valuation allowances that might be required against deferred tax assets.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements: In June 2014, 2014 09, April 2016, 2016 10, May 2016, 2016 12, December 2016, 2016 20, 606, three 2014 09 December 15, 2017, 2019. no July 1, 2018. not not may may six nine In February 2016, 2016 02, December 15, 2018, ’s fiscal year 2020, not In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting.” This amended guidance simplifies several aspects of the accounting for share-based payment award transactions. The amended guidance is effective for financial statements issued for fiscal years and interim periods within those years, beginning after December 15, 2016, 2018. July 1, 2017 $81,010 three September 30, 2017. may not may July 1, 2017, not no In January 2017, 2017 04, December 15, 2019, ’s fiscal year 2021. 7
Comprehensive Income, Policy [Policy Text Block]	Comprehensive Income: The Company does not
Subsequent Events, Policy [Policy Text Block]	Subsequent Events: The Company has evaluated subsequent events for potential recognition and disclosure through the date the consolidated financial statements were filed. No
Use of Estimates, Policy [Policy Text Block]	Use of Estimates: The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Note 2 - Summary of Significa22

Note 2 - Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	(In thousands) September 30 , June 30, 201 7 201 7 Accounts receivable $ 54,688 $ 49,386 Less: Allowance for doubtful accounts (436 ) (506 ) Accounts receivable, net $ 54,252 $ 48,880
Property, Plant and Equipment [Table Text Block]	Buildings (years) 28 - 40 Machinery and equipment (years) 3 - 10 Computer software (years) 3 - 8
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	Fair Value Measurements Using Description Quarter Ended 9/30/2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable inputs (Level 2) Significant Unobservable inputs (Level 3) Total Gains (Losses) Lighting Segment Goodwill $ 29,373,000 $ 29,373,000 $ (28,000,000 )
Schedule of Product Warranty Liability [Table Text Block]	Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 201 7 201 6 201 7 Balance at beginning of the period $ 7,560 $ 5,069 $ 5,069 Additions charged to expense 927 903 4,956 Addition for acquired company 907 Deductions for repairs and r eplacements (1,818 ) (624 ) (3,372 ) Balance at end of the period $ 6,669 $ 5,348 $ 7,560

Note 3 - Segment Reporting In23

Note 3 - Segment Reporting Information (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended ( In thousands) September 30 201 7 201 6 Net Sales: Lighting Segment $ 68,428 $ 65,265 Graphics Segment 19,038 18,894 $ 87,466 $ 84,159 Operating Income (Loss): Lighting Segment $ (22,930 ) $ 3,091 Graphics Segment 1,476 1,017 Corporate and Eliminations (3,360 ) (3,042 ) $ (24,814 ) $ 1,066 Capital Expenditures: Lighting Segment $ 261 $ 1,096 Graphics Segment 182 366 Corporate and Eliminations 55 498 $ 498 $ 1,960 Depreciation and Amortization: Lighting Segment $ 1,901 $ 1,192 Graphics Segment 379 360 Corporate and Eliminations 292 283 $ 2,572 $ 1,835
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, 201 7 June 30, 201 7 Identifiable Assets: Lighting Segment $ 182,796 $ 214,070 Graphics Segment 35,315 33,144 Corporate and Eliminations 21,078 9,466 $ 239,189 $ 256,680
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended September 30 (In thousands) 201 7 201 6 Lighting Segment inter-segment net sales $ 715 $ 753 Graphics Segment inter-segment net sales $ 31 $ 132

Note 4 - Earnings Per Common 24

Note 4 - Earnings Per Common Share (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30 201 7 201 6 BASIC EARNINGS (LOSS) PER SHARE Net income (loss) $ (15,629 ) $ 829 Weighted average shares outstanding, net of treasury shares (a) 25,505 24,998 Weighted average vested restricted stock units outstanding 41 37 Weighted average shares outstanding in the Deferred Compensation Plan 245 240 Weighted average shares outstanding 25,791 25,275 Basic earnings (loss) per share $ (0.61 ) $ 0.03 DILUTED EARNINGS (LOSS) PER SHARE Net income (loss) $ (15,629 ) $ 829 Weighted average shares outstanding Basic 25,791 25,275 Effect of dilutive securities (b): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any -- 637 Weighted average shares outstanding (c) 25,791 25,912 Diluted earnings (loss) per share $ (0.61 ) $ 0.03

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, June 30, (In thousands) 201 7 201 7 Inventories: Raw materials $ 31,332 $ 32,421 Work-in-process 3,449 3,527 Finished goods 14,401 14,060 Total Inventories $ 49,182 $ 50,008

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, June 30, (In thousands) 201 7 201 7 Accrued Expenses: Compensation and benefits $ 6,867 $ 9,759 Customer prepayments 1,480 1,061 Accrued sales commissions 1,986 2,314 Accrued warranty 6,669 7,560 Other accrued expenses 6,502 5,375 Total Accrued Expenses $ 23,504 $ 26,069

Note 7 - Goodwill and Other I27

Note 7 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Goodwill [Table Text Block]	Goodwill (In thousands) Lighting Graphics Segment Segment Total Balance as of June 30, 2017 Goodwill $ 94,564 $ 28,690 $ 123,254 Accumulated impairment losses (37,191 ) (27,525 ) (64,716 ) Goodwill, net as of June 30, 2017 $ 57,373 $ 1,165 $ 58,538 Goodwill Impairment (28,000 ) -- (28,000 ) Balance as of September 30, 2017 Goodwill $ 94,564 28,690 123,254 Accumulated impairment losses (65,191 ) (27,525 ) (92,716 ) Goodwill, net as of September 30, 2017 $ 29,373 $ 1,165 $ 30,538
Schedule of Intangible Assets and Goodwill [Table Text Block]	September 30, 2017 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 8,471 $ 27,092 Patents 338 193 145 LED technology firmware, software 16,066 11,378 4,688 Trade name 2,658 526 2,132 Non-compete agreements 710 710 -- Total Amortized Intangible Assets 55,335 21,278 34,057 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,757 $ 21,278 $ 37,479 June 30, 2017 Other Intangible Assets Gross (In thousands) Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 35,563 $ 7,956 $ 27,607 Patents 338 186 152 LED technology firmware, software 16,066 11,237 4,829 Trade name 2,658 499 2,159 Non-compete agreements 710 710 - Total Amortized Intangible Assets 55,335 20,588 34,747 Indefinite-lived Intangible Assets Trademarks and trade names 3,422 -- 3,422 Total Indefinite-lived Intangible Assets 3,422 -- 3,422 Total Other Intangible Assets $ 58,757 $ 20,588 $ 38,169
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	(In thousands) Amortization Expense of Other Intangible Assets September 30, 201 7 September 30, 201 6 Three Months Ended $ 690 $ 107
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) 201 8 $ 2,760 201 9 $ 2,760 2020 $ 2,687 2021 $ 2,682 2022 $ 2,461 After 202 2 $ 21,397

Note 10 - Equity Compensation (

Note 10 - Equity Compensation (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Stock Warrants, Valuation Assumptions [Table Text Block]	Three Months Ended September 30 201 7 Dividend yield 3.4 % Expected volatility 40.9 % Risk-free interest rate 1.8 % Expected life (years) 6.0
Share-based Compensation, Stock Options, Activity [Table Text Block]	Three Months Ended September 30, 201 7 Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Contractual Term (years) Value Outstanding at 6/30/1 7 3,119,688 $ 9.12 7.4 $ 2,332,224 Granted 724,037 $ 5.92 Forfeitures (232,171 ) $ 13.92 Exercised (18,189 ) $ 6.31 Outstanding at 9/30/1 7 3,593,365 $ 8.18 7.6 $ 646,326 Exercisable at 9/30/1 7 1,536,124 $ 8.26 5.9 $ 111,768 Three Months Ended September 30, 2016 Weighted Weighted Average Average Aggregate Exercise Remaining Intrinsic Shares Price Contractual Term (years) Value Outstanding at 6/30/16 2,976,490 $ 8.97 6.6 $ 8,338,974 Granted 832,500 $ 11.06 Forfeitures (140,250 ) $ 15.95 Exercised (20,813 ) $ 8.32 Outstanding at 9/30/16 3,647,927 $ 9.18 7.3 $ 8,783,980 Exercisable at 9/30/16 1,586,188 $ 8.91 5.1 $ 4.982,876
Schedule of Nonvested Share Activity [Table Text Block]	Weighted-Average Grant Date Shares Fair Value Unvested at June 30, 2017 1,842,127 $ 3.52 Granted 724,037 $ 1.71 Vested (384,602 ) $ 3.58 Forfeited (124,321 ) $ 3.49 Unvested at September 30, 2017 2,057,241 $ 2.87
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Weighted-Average Grant Date Shares Fair Value Unvested at June 30, 2017 133,335 $ 10.38 Awarded 91,490 $ 5.92 Shares Issued (30,675 ) $ 10.30 Unvested at September 30, 2017 194,150 $ 8.29

Note 11 - Supplemental Cash F29

Note 11 - Supplemental Cash Flow Information (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	(In thousands) Three Months Ended September 30 201 7 201 6 Cash payments: Interest $ 382 $ 13 Income taxes $ -- $ 1,022

Note 13 - Severance Costs (Tabl

Note 13 - Severance Costs (Tables)	3 Months Ended
	Sep. 30, 2017
Employee Severance [Member]
Notes Tables
Schedule of Accrued Severance Liability [Table Text Block]	Three Three Fiscal Months Ended Months Ended Year Ended (In thousands) September 30, September 30, June 30, 201 7 201 6 201 7 Balance at beginning of the period $ 235 $ 39 $ 39 Accrual of expense -- 145 523 Payments (159 ) (119 ) (313 ) Adjustments -- -- (14 ) Balance at end of the period $ 76 $ 65 $ 235

Note 14 - Restructuring Costs (

Note 14 - Restructuring Costs (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	Three Three Months Ended Months Ended (In thousands) September 30, September 30, 2017 2016 Severance and other termination benefits $ -- $ 165 Lease obligation -- 213 Impairment of fixed assets and accelerated depreciation -- 273 Other -- 5 Total $ -- $ 656
Restructuring and Related Costs, Summary of Costs Incurred by Line Item in the Statement of Operations [Table Text Block]	Three Months Ended (In thousands) September 30 2016 Cost of Goods Sold $ 503 Operating Expenses 153 Total $ 656
Restructuring Costs and Related Costs Incurred by Segment [Table Text Block]	Three Three Months Ended Months Ended (In thousands) September 30, September 30 2017 2016 Lighting Segment $ -- $ 545 Graphics Segment -- -- Corporate and Eliminations -- 111 Total $ -- $ 656
Schedule of Liability Balances Related to Restructuring Costs [Table Text Block]	(In thousands) Balance as of June 30, 2017 Restructuring Expense Payments Adjustments Balance as of September 30, 2017 Severance and termination b enefits $ -- $ -- -- $ -- $ -- Lease o bligation 85 -- (43 ) -- 42 Other -- -- -- -- -- Total $ 85 $ -- $ (43 ) $ -- $ 42

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended September 30 201 7 201 6 Reconciliation to effective tax rate: Provision for income taxes at the anticipated annual tax rate 33.7 % 32.0 % Uncertain tax positions (0.2 ) (1.3 ) Difference betwe en deferred and current tax rate related to the impairment of goodwill 4.8 -- Deferred tax asset adjustment -- (6.7 ) Other (0.3 ) (0.8 ) Effective tax rate 38.0 % 23.2 %

Note 2 - Summary of Significa33

Note 2 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		9 Months Ended		15 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)
Number of Revenue Sources	5		5		5
Cash, Uninsured Amount	$ 5,080,127		$ 5,080,127		$ 5,080,127	$ 4,615,000
Depreciation	1,882,000	$ 1,728,000
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	0		0		0
Goodwill	30,538,000		30,538,000		30,538,000	58,538,000
Goodwill, Impairment Loss	28,000,000		28,000,000
Research and Development Expense	$ 1,562,000				1,401,000
Incremental Common Shares Attributable to Dilutive Effect of Contingently Issuable Shares | shares	286,000	914,000
Income Tax Expense (Benefit)	$ (9,588,000)	$ 251,000
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	(81,010)
Lighting Segment [Member]
Goodwill	29,373,000		$ 29,373,000		$ 29,373,000	$ 57,373,000
Goodwill, Impairment Loss	$ 28,000,000
Minimum [Member]
Media Content Service Period	30 days
Finite-Lived Intangible Asset, Useful Life	7 years
Standard Warranty Term	1 year
Maximum [Member]
Media Content Service Period	1 year
Finite-Lived Intangible Asset, Useful Life	20 years
Standard Warranty Term	5 years
Maximum [Member] | Product Warranty Exceptions [Member]
Standard Warranty Term	10 years
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life	15 years

Note 2 - Summary of Significa34

Note 2 - Summary of Significant Accounting Policies - Net Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Accounts receivable	$ 54,688	$ 49,386
Less: Allowance for doubtful accounts	(436)	(506)
Accounts receivable, net	$ 54,252	$ 48,880

Note 2 - Summary of Significa35

Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives of Long-lived Assets (Details)	3 Months Ended
	Sep. 30, 2017
Building [Member] | Minimum [Member]
Property, plant, and equipment (Year)	28 years
Building [Member] | Maximum [Member]
Property, plant, and equipment (Year)	40 years
Machinery and Equipment [Member] | Minimum [Member]
Property, plant, and equipment (Year)	3 years
Machinery and Equipment [Member] | Maximum [Member]
Property, plant, and equipment (Year)	10 years
Software and Software Development Costs [Member] | Minimum [Member]
Property, plant, and equipment (Year)	3 years
Software and Software Development Costs [Member] | Maximum [Member]
Property, plant, and equipment (Year)	8 years

Note 2 - Summary of Significa36

Note 2 - Summary of Significant Accounting Policies - Fair Value of Goodwill (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Total Gains (Losses)	$ (28,000,000)		$ (28,000,000)
Lighting Segment [Member]
Total Gains (Losses)	(28,000,000)
Fair Value, Measurements, Nonrecurring [Member] | Lighting Segment [Member]
Goodwill	29,373,000		29,373,000
Total Gains (Losses)			(28,000,000)
Fair Value, Measurements, Nonrecurring [Member] | Lighting Segment [Member] | Fair Value, Inputs, Level 1 [Member]
Goodwill
Fair Value, Measurements, Nonrecurring [Member] | Lighting Segment [Member] | Fair Value, Inputs, Level 2 [Member]
Goodwill
Fair Value, Measurements, Nonrecurring [Member] | Lighting Segment [Member] | Fair Value, Inputs, Level 3 [Member]
Goodwill	$ 29,373,000		$ 29,373,000

Note 2 - Summary of Significa37

Note 2 - Summary of Significant Accounting Policies - Warranty Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Balance at beginning of the period	$ 7,560	$ 5,069	$ 5,069
Additions charged to expense	927	903	4,956
Addition for acquired company			907
Deductions for repairs and replacements	(1,818)	(624)	(3,372)
Balance at end of the period	$ 6,669	$ 5,348	$ 7,560

Note 3 - Segment Reporting In38

Note 3 - Segment Reporting Information (Details Textual)	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Number of Operating Segments	2
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	0.00%	0.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	0.00%		0.00%

Note 3 - Segment Reporting In39

Note 3 - Segment Reporting Information - Summarized Financial Information by Reportable Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net Sales:
Net sales	$ 87,466	$ 84,159
Operating Income (Loss):
Operating income (loss)	(24,814)	1,066
Capital Expenditures:
Capital expenditures	498	1,960	$ 498	$ 1,960
Depreciation and Amortization:
Depreciation and amortization	2,572	1,835	$ 2,572	$ 1,835
Corporate and Eliminations [Member]
Operating Income (Loss):
Operating income (loss)	(3,360)	(3,042)
Capital Expenditures:
Capital expenditures	55	498
Depreciation and Amortization:
Depreciation and amortization	292	283
Lighting Segment [Member]
Net Sales:
Net sales	68,428	65,265
Lighting Segment [Member] | Operating Segments [Member]
Operating Income (Loss):
Operating income (loss)	(22,930)	3,091
Capital Expenditures:
Capital expenditures	261	1,096
Depreciation and Amortization:
Depreciation and amortization	1,901	1,192
Graphics Segment [Member]
Net Sales:
Net sales	19,038	18,894
Graphics Segment [Member] | Operating Segments [Member]
Operating Income (Loss):
Operating income (loss)	1,476	1,017
Capital Expenditures:
Capital expenditures	182	366
Depreciation and Amortization:
Depreciation and amortization	$ 379	$ 360

Note 3 - Segment Reporting In40

Note 3 - Segment Reporting Information - Identifiable Assets by Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Identifiable assets	$ 239,189	$ 256,680
Corporate and Eliminations [Member]
Identifiable assets	21,078	9,466
Lighting Segment [Member] | Operating Segments [Member]
Identifiable assets	182,796	214,070
Graphics Segment [Member] | Operating Segments [Member]
Identifiable assets	$ 35,315	$ 33,144

Note 3 - Segment Reporting In41

Note 3 - Segment Reporting Information - Intersegment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Inter-segment Revenues	$ 87,466	$ 84,159
Lighting Segment [Member]
Inter-segment Revenues	68,428	65,265
Graphics Segment [Member]
Inter-segment Revenues	19,038	18,894
Intersegment Eliminations [Member] | Lighting Segment [Member]
Inter-segment Revenues	715	753
Intersegment Eliminations [Member] | Graphics Segment [Member]
Inter-segment Revenues	$ 31	$ 132

Note 4 - Earnings Per Common 42

Note 4 - Earnings Per Common Share (Details Textual) - shares	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,791,936	1,654,450

Note 4 - Earnings Per Common 43

Note 4 - Earnings Per Common Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
BASIC EARNINGS (LOSS) PER SHARE
Net (loss) income		$ (15,629)	$ 829	$ (15,629)	$ 829
Weighted average shares outstanding, net of treasury shares (a) (in shares)	[1]	25,505	24,998
Weighted average vested units and shares outstanding (in shares)		245	240
Weighted average shares outstanding (in shares)		25,791	25,275
Basic earnings (loss) per share (in dollars per share)		$ (0.61)	$ 0.03
DILUTED EARNINGS (LOSS) PER SHARE
Net (loss) income		$ (15,629)	$ 829	$ (15,629)	$ 829
Basic (in shares)		25,791	25,275
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any (in shares)	[2]		637
Weighted average shares outstanding (c) (in shares)	[3]	25,791	25,912
Diluted earnings (loss) per share (in dollars per share)		$ (0.61)	$ 0.03
Restricted Stock Units (RSUs) [Member]
BASIC EARNINGS (LOSS) PER SHARE
Weighted average vested units and shares outstanding (in shares)		41	37
[1]	Includes shares accounted for like treasury stock.
[2]	Calculated using the "Treasury Stock" method as if dilutive securities were exercised and the funds were used to purchase common shares at the average market price during the period.
[3]	Options to purchase 3,671,340 common shares and 1,654,450 common shares at September 30, 2017 and 2016, respectively, were not included in the computation of the three month period for diluted earnings per share, respectively, because the exercise price was greater than the average fair market value of the common shares. For the three months ended September 30, 2017, the effect of dilutive securities was not included in the calculation of diluted earnings per share because there was a net operating loss for the period.

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Inventories:
Raw materials	$ 31,332	$ 32,421
Work-in-process	3,449	3,527
Finished goods	14,401	14,060
Total Inventories	$ 49,182	$ 50,008

Note 6 - Accrued Expenses - Acc

Note 6 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016
Accrued Expenses:
Compensation and benefits	$ 6,867	$ 9,759
Customer prepayments	1,480	1,061
Accrued sales commissions	1,986	2,314
Accrued warranty	6,669	7,560	$ 5,348	$ 5,069
Other accrued expenses	6,502	5,375
Total Accrued Expenses	$ 23,504	$ 26,069

Note 7 - Goodwill and Other I46

Note 7 - Goodwill and Other Intangible Assets (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Number of Reporting Units	3
Goodwill, Impairment Loss	$ 28,000,000		$ 28,000,000
Lighting Segment [Member]
Number of Reporting Units	2
Goodwill, Impairment Loss	$ 28,000,000
Graphics Segment [Member]
Number of Reporting Units	1
Goodwill, Impairment Loss

Note 7 - Goodwill and Other I47

Note 7 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Goodwill, net	$ 30,538,000		$ 30,538,000		$ 58,538,000
Total Gains (Losses)	(28,000,000)		(28,000,000)
Lighting Segment [Member]
Goodwill	94,564,000		94,564,000		94,564,000
Accumulated impairment losses	(65,191,000)		(65,191,000)		(37,191,000)
Goodwill, net	29,373,000		29,373,000		57,373,000
Total Gains (Losses)	(28,000,000)
Graphics Segment [Member]
Goodwill	28,690,000		28,690,000		28,690,000
Accumulated impairment losses	(27,525,000)		(27,525,000)		(27,525,000)
Goodwill, net	1,165,000		1,165,000		1,165,000
Total Gains (Losses)
Technology Segment [Member]
Goodwill	123,254,000		123,254,000		123,254,000
Accumulated impairment losses	(92,716,000)		(92,716,000)		(64,716,000)
Goodwill, net	30,538,000		$ 30,538,000		$ 58,538,000
Total Gains (Losses)	$ (28,000,000)

Note 7 - Goodwill and Other I48

Note 7 - Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jun. 30, 2017
Amortized intangible assets, gross	$ 55,335	$ 55,335
Accumulated amortization	21,278	20,588
Amortized intangible assets, net	34,057	34,747
Indefinite-lived intangible assets, gross	3,422	3,422
Total other intangible assets, gross	58,757	58,757
Other Intangible Assets, net	37,479	38,169
Trademarks and Trade Names [Member]
Indefinite-lived intangible assets, gross	3,422	3,422
Customer Relationships [Member]
Amortized intangible assets, gross	35,563	35,563
Accumulated amortization	8,471	7,956
Amortized intangible assets, net	27,092	27,607
Patents [Member]
Amortized intangible assets, gross	338	338
Accumulated amortization	193	186
Amortized intangible assets, net	145	152
Technology-Based Intangible Assets [Member]
Amortized intangible assets, gross	16,066	16,066
Accumulated amortization	11,378	11,237
Amortized intangible assets, net	4,688	4,829
Trade Names [Member]
Amortized intangible assets, gross	2,658	2,658
Accumulated amortization	526	499
Amortized intangible assets, net	2,132	2,159
Noncompete Agreements [Member]
Amortized intangible assets, gross	710	710
Accumulated amortization	710	710
Amortized intangible assets, net

Note 7 - Goodwill and Other I49

Note 7 - Goodwill and Other Intangible Assets - Amortization Expense of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Amortization expense of other intangible assets	$ 690	$ 107

Note 7 - Goodwill and Other I50

Note 7 - Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2017USD ($)
2,018	$ 2,760
2,019	2,760
2,020	2,687
2,021	2,682
2,022	2,461
After 2,022	$ 21,397

Note 8 - Revolving Line of Cr51

Note 8 - Revolving Line of Credit (Details Textual) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Mar. 31, 2018	Sep. 30, 2017	Feb. 21, 2017
Long-term Line of Credit			$ 51.9
Line of Credit Facility, Remaining Borrowing Capacity			$ 48.1
London Interbank Offered Rate (LIBOR) [Member] | Scenario, Forecast [Member]
Debt Instrument, Basis Spread on Variable Rate		1.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
UNITED STATES
Line of Credit Facility, Maximum Borrowing Capacity				$ 100
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%

Note 9 - Cash Dividends (Detail

Note 9 - Cash Dividends (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Oct. 31, 2017
Payments of Ordinary Dividends, Common Stock	$ 1,286,000	$ 1,256,000	$ 1,286,000	$ 1,256,000
Dividends Accrued	$ 29,106	$ 13,898
Subsequent Event [Member]
Quarterly Indicated Per Share Dividend Rate					$ 0.05
Annual Indicated per Share Dividend Rate					$ 0.20

Note 10 - Equity Compensation53

Note 10 - Equity Compensation (Details Textual)	3 Months Ended		12 Months Ended		42 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares	Sep. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2017USD ($)shares	Jun. 30, 2016shares	Jun. 30, 2017USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	7 years 219 days	7 years 109 days	7 years 146 days	6 years 219 days
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares	1,366,738
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	3,593,365	3,647,927	3,119,688	2,976,490	3,119,688
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | shares	1,536,124	1,586,188
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 3,029,686
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 30 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	724,037	832,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 5.92	$ 11.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 1.71	$ 3.83
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	9 years 300 days	5 years 36 days
Share Based Compensation Valuation Assumptions Expected Forfeiture Rate	8.30%
Stock or Unit Option Plan Expense	$ 757,808	$ 1,438,443
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | shares	3,479,522
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares	$ 8.21
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$ 594,220
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term	7 years 219 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 20,156	50,160
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Aggregate Grant Date Fair Value	1,377,325	1,334,248
Proceeds from Stock Options Exercised	114,770	173,185
Reduction of Federal Income Taxes Payable Related To Stock Option Exercise	104,969	78,040
Increase (Decrease) in Expense Related to Stock Option Exercise	81,010
Reduction of Income Tax Expense Related to Stock Option Exercises	5,973	8,880
Reduction of Deferred Tax Asset Related to Stock Option Exercises	$ 180,006	183,665
Increase (Decrease) In Common Stock Related To Stock Option Exercise		$ 165,856
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | shares	8,550	9,470
Stock Issued During Period, Value, Share-based Compensation, Gross	$ 77,976	$ 103,100
Deferred Compensation Plan, Number of Participants	38
Treasury Stock, Shares | shares	241,095		257,898		257,898
Treasury Stock, Value	$ 2,180,397		$ 2,456,875		$ 2,456,875
Deferred Compensation Arrangement with Individual, Shares Issued | shares	31,922
Treasury Stock Acquired, Repurchase Authorization, Shares Expected | shares	15,225
Employee Salary Deferrals or Company Contributions [Member]
Treasury Stock, Value, Acquired, Cost Method	$ 106,537	$ 343,700
Treasury Stock, Shares, Acquired | shares	15,225	34,587
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	10 years
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares		$ 11.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares		$ 3.83
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		9 years 330 days
Share Based Compensation Valuation Assumptions Expected Forfeiture Rate					3.50%
Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares		$ 10.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares		$ 3.39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		9 years 270 days
Share Based Compensation Valuation Assumptions Expected Forfeiture Rate					2.00%
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 913,907
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 270 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | shares	194,150	118,575	133,335		133,335
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 5.92	$ 11.06
Share Based Compensation Valuation Assumptions Expected Forfeiture Rate	8.30%	3.40%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	91,490	71,700
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years
Dividends	$ 29,106	$ 13,898
Share-based Compensation Arrangement By Share-based Payment Award, Equity Other Than Options, Vested and Expected To Vest, Outstanding, Number | shares	180,984	113,868
Allocated Share-based Compensation Expense	$ 255,415	$ 302,301
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	3 years 270 days	3 years 270 days
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms	1 year 300 days	2 years 270 days
Annually [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.30%
Non-Employee Directors [Member] | Each Ninety Days [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%
Employees [Member] | Annually [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	25.00%

Note 10 - Equity Compensation -

Note 10 - Equity Compensation - Weighted Average Assumptions Were Used for the Warrants (Details) - Warrant [Member]	3 Months Ended
	Sep. 30, 2017
Dividend yield	3.40%
Expected volatility	40.90%
Risk-free interest rate	1.80%
Expected life (years) (Year)	6 years

Note 10 - Equity Compensation55

Note 10 - Equity Compensation - Stock Options (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Outstanding (in shares)	3,119,688	2,976,490	2,976,490
Outstanding (in dollars per share)	$ 9.12	$ 8.97	$ 8.97
Outstanding (Year)	7 years 219 days	7 years 109 days	7 years 146 days	6 years 219 days
Outstanding	$ 646,326	$ 8,783,980	$ 2,332,224	$ 8,338,974
Granted (in shares)	724,037	832,500
Granted (in dollars per share)	$ 5.92	$ 11.06
Forfeitures (in shares)	(232,171)	(140,250)
Forfeitures (in dollars per share)	$ 13.92	$ 15.95
Exercised (in shares)	(18,189)	(20,813)
Exercised (in dollars per share)	$ 6.31	$ 8.32
Outstanding (in shares)	3,593,365	3,647,927	3,119,688	2,976,490
Outstanding (in dollars per share)	$ 8.18	$ 9.18	$ 9.12	$ 8.97
Exercisable (in shares)	1,536,124	1,586,188
Exercisable (in dollars per share)	$ 8.26	$ 8.91
Exercisable (Year)	9 years 300 days	5 years 36 days
Exercisable	$ 111,768	$ 4.982876

Note 10 - Equity Compensation56

Note 10 - Equity Compensation - Summary of Unvested Stock Options (Details) - $ / shares	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Unvested (in shares)	1,842,127
Unvested (in dollars per share)	$ 3.52
Granted (in shares)	724,037	832,500
Granted (in dollars per share)	$ 1.71	$ 3.83
Vested (in shares)	(384,602)
Vested (in dollars per share)	$ 3.58
Forfeited (in shares)	(124,321)
Forfeited (in dollars per share)	$ 3.49
Unvested (in shares)	2,057,241
Unvested (in dollars per share)	$ 2.87

Note 10 - Equity Compensation57

Note 10 - Equity Compensation - Summary of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Unvested (in shares)	133,335
Unvested (in dollars per share)	$ 10.38
Awarded (in shares)	91,490	71,700
Awarded (in dollars per share)	$ 5.92
Shares Issued (in shares)	(30,675)
Shares Issued (in dollars per share)	$ 10.30
Unvested (in shares)	194,150	118,575
Unvested (in dollars per share)	$ 8.29

Note 11 - Supplemental Cash F58

Note 11 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash payments:
Interest	$ 382	$ 13
Income taxes		$ 1,022

Note 12 - Commitments and Con59

Note 12 - Commitments and Contingencies (Details Textual) $ in Thousands	Jun. 30, 2017USD ($)
Standby Letters of Credit [Member]
Letters of Credit Outstanding, Amount	$ 0

Note 13 - Severance Costs (Deta

Note 13 - Severance Costs (Details Textual) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Severance Costs	$ 0	$ 145,000

Note 13 - Severance Costs - Acc

Note 13 - Severance Costs - Accrued Severance Liability Activity (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Balance at	$ 235	$ 39	$ 39
Accrual of expense		145	523
Payments	(159)	(119)	(313)
Adjustments			(14)
Balance at	$ 76	$ 65	$ 235

Note 14 - Restructuring Costs62

Note 14 - Restructuring Costs (Details Textual) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017	Dec. 31, 2016
Inventory Write-down		$ 143,000	$ 573,000
Restructuring Charges
Closure of Kansas City Facility [Member]
Restructuring and Related Cost, Expected Cost	0	0			$ 944,000
Inventory Write-down				$ 485,000
Gain (Loss) on Disposition of Property Plant Equipment				1,361,000
Consolidation of Beaverton, Oregon Facility into Other LSI Facilities [Member]
Restructuring Charges	0			$ 377,000
Consolidation of Woonsocket, Rhode Island Manufacturing Operation into Its North Canton, Ohio Operation [Member]
Restructuring and Related Cost, Expected Cost	$ 0	$ 0			$ 452,000

Note 14 - Restructuring Costs -

Note 14 - Restructuring Costs - Summary of Restructuring Costs for the Period (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Restructuring and related costs		$ 656
Severance and Other Termination Benefits [Member]
Restructuring and related costs		165
Lease Obligation Restructuring [Member]
Restructuring and related costs		213
Restructuring Impairment of Fixed Assets and Accelerated Depreciation [Member]
Restructuring and related costs		273
Other Restructuring [Member]
Restructuring and related costs		$ 5

Note 14 - Restructuring Costs64

Note 14 - Restructuring Costs - Cost Incurred by Line Items on the Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Restructuring and related costs, incurred cost		$ 656
Cost of Goods Sold [Member]
Restructuring and related costs, incurred cost		503
Operating Expense [Member]
Restructuring and related costs, incurred cost		$ 153

Note 14 - Restructuring Costs65

Note 14 - Restructuring Costs - Summary of Restructuring Costs by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Restructuring and related costs, incurred cost		$ 656
Corporate, Non-Segment [Member]
Restructuring and related costs, incurred cost		111
Lighting Segment [Member] | Operating Segments [Member]
Restructuring and related costs, incurred cost		545
Graphics Segment [Member] | Operating Segments [Member]
Restructuring and related costs, incurred cost

Note 14 - Restructuring Costs66

Note 14 - Restructuring Costs - Liability Balances Related to Restructuring Costs (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2017USD ($)
Balance, beginning	$ 85
Restructuring Expense
Payments	(43)
Adjustments
Balance, ending	42
Severance and Other Termination Benefits [Member]
Balance, beginning	0
Restructuring Expense
Payments
Adjustments
Balance, ending
Lease Obligation Restructuring [Member]
Balance, beginning	85
Restructuring Expense
Payments	(43)
Adjustments
Balance, ending	42
Other Restructuring [Member]
Balance, beginning	0
Restructuring Expense
Payments
Adjustments
Balance, ending

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) $ in Millions	Sep. 30, 2017USD ($)
Lighting Segment [Member]
Deferred Tax Assets, Goodwill and Intangible Assets	$ 10.7

Note 15 - Income Taxes - Reconc

Note 15 - Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Provision for income taxes at the anticipated annual tax rate	33.70%	32.00%
Uncertain tax positions	(0.20%)	(1.30%)
Difference between deferred and current tax rate related to the impairment of goodwill	4.80%
Deferred tax asset adjustment		(6.70%)
Other	(0.30%)	(0.80%)
Effective tax rate	38.00%	23.20%