LSI Industries (LYTS) 10-Q 6 May 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	0-13375
Entity Registrant Name	LSI Industries Inc.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-0888951
Entity Address, Address Line One	10000 Alliance Road
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45242
City Area Code	513
Local Phone Number	793-3200
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	LYTS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		29,129,848
Entity Central Index Key	0000763532
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net Sales	$ 108,186	$ 117,470	$ 340,632	$ 373,343
Cost of products and services sold	76,846	85,266	240,789	272,230
Severance and restructuring costs	130	0	508	31
Gross profit	31,210	32,204	99,335	101,082
Severance and restructuring costs	12	0	40	0
Selling and administrative expenses	23,538	24,472	72,788	74,291
Operating income	7,660	7,732	26,507	26,791
Interest expense	134	877	1,153	2,924
Other (income) expense	75	(71)	142	86
Income before income taxes	7,451	6,926	25,212	23,781
Income tax expense	2,076	2,257	5,903	6,434
Net income	$ 5,375	$ 4,669	$ 19,309	$ 17,347
Earnings per common share (see Note 4)
Basic (in dollars per share)	$ 0.18	$ 0.16	$ 0.67	$ 0.62
Diluted (in dollars per share)	$ 0.18	$ 0.16	$ 0.64	$ 0.6
Weighted average common shares outstanding
Basic (in shares)	29,163	28,306	28,981	28,012
Diluted (in shares)	30,122	29,611	30,005	29,055

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net Income	$ 5,375	$ 4,669	$ 19,309	$ 17,347
Foreign currency translation adjustment	31	117	46	192
Comprehensive Income	$ 5,406	$ 4,786	$ 19,355	$ 17,539

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Current assets
Cash and cash equivalents	$ 7,175	$ 1,828
Accounts receivable, less allowance for credit losses of $493 and $435, respectively	68,730	77,681
Inventories	60,331	63,718
Refundable income taxes	2,654	3,120
Other current assets	4,595	3,529
Total current assets	143,485	149,876
Property, Plant and Equipment, at cost
Land	4,010	4,010
Buildings	24,600	24,561
Machinery and equipment	67,713	67,457
Buildings under finance leases	2,033	2,033
Construction in progress	1,792	1,231
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, before Accumulated Depreciation and Amortization	100,148	99,292
Less accumulated depreciation	(74,043)	(73,861)
Net property, plant and equipment	26,105	25,431
Goodwill	45,030	45,030
Other intangible assets, net	59,633	63,203
Operating lease right-of-use assets	9,063	8,921
Other long-term assets, net	4,653	3,688
Total assets	287,969	296,149
LIABILITIES & SHAREHOLDERS' EQUITY
Current maturities of long-term debt	3,571	3,571
Accounts payable	26,114	29,206
Accrued expenses	36,576	43,785
Total current liabilities	66,261	76,562
Long-term debt	12,782	31,629
Finance lease liabilities	719	960
Operating lease liabilities	6,222	5,954
Other long-term liabilities	3,548	3,466
Commitments and Contingencies
Shareholders' Equity
Preferred shares, without par value; Authorized 1,000,000 shares, none issued	0	0
Common shares, without par value; Authorized 50,000,000 shares; Outstanding 29,112,651 and 28,488,570 shares, respectively	154,475	148,691
Treasury shares, without par value	8,520	7,166
Deferred compensation plan	8,520	7,166
Retained earnings	43,577	28,548
Accumulated other comprehensive income	385	339
Total shareholders' equity	198,437	177,578
Total liabilities & shareholders' equity	$ 287,969	$ 296,149

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 493	$ 435
Preferred Stock, No Par Value (in dollars per share)	$ 0	$ 0
Preferred Stock, Shares Authorized (in shares)	1,000,000	1,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Common Stock, No Par Value (in dollars per share)	$ 0	$ 0
Common Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Common Stock, Shares, Outstanding (in shares)	29,112,651	28,488,570

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Including Additional Paid in Capital [Member]	Treasury Stock, Common [Member]	Key Executive Deferred Compensation [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at December 31, 2022	$ 139,500	$ (5,927)	$ 5,927	$ 45	$ 8,224	$ 147,769
Balance (in shares)	27,484	(822)
Balance (in shares) at Jun. 30, 2022	27,484	(822)
Balance at Jun. 30, 2022	$ 139,500	$ (5,927)	5,927	45	8,224	147,769
Net Income	0	0	0	0	6,261	6,261
Other comprehensive gain (loss)	$ 0	$ 0	0	7	0	7
Board stock compensation (in shares)	12	0
Board stock compensation	$ 75	$ 0	0	0	0	75
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	201	0
Restricted stock units issued, net of shares withheld for tax withholdings	$ (66)	$ 0	0	0	0	(66)
Shares issued for deferred compensation (in shares)	80	0
Shares issued for deferred compensation	$ 539	$ 0	0	0	0	539
Activity of treasury shares, net (in shares)	0	(77)
Activity of treasury shares, net	$ 0	$ (512)	0	0	0	(512)
Deferred stock compensation	0	0	512	0	0	512
Stock-based compensation expense	$ 551	$ 0	0	0	0
Stock options exercised, net (in shares)	0	0
Stock options exercised, net	$ 0	$ 0	0	0	0	0
Dividends	$ 0	$ 0	0	0	(1,408)	(1,408)
Balance (in shares) at Sep. 30, 2022	27,777	(899)
Balance at Sep. 30, 2022	$ 140,599	$ (6,439)	6,439	52	13,077	153,728
Balance (in shares) at Jun. 30, 2022	27,484	(822)
Balance at Jun. 30, 2022	$ 139,500	$ (5,927)	5,927	45	8,224	147,769
Net Income						17,347
Balance (in shares) at Mar. 31, 2023	28,349	(891)
Balance at Mar. 31, 2023	$ 146,000	$ (6,736)	6,736	237	21,506	167,743
Balance at December 31, 2022	$ 140,599	$ (6,439)	6,439	52	13,077	153,728
Balance (in shares)	27,777	(899)
Balance (in shares) at Sep. 30, 2022	27,777	(899)
Balance at Sep. 30, 2022	$ 140,599	$ (6,439)	6,439	52	13,077	153,728
Net Income					6,417	6,417
Other comprehensive gain (loss)				68		68
Board stock compensation (in shares)	23
Board stock compensation	$ 98					98
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	71
Restricted stock units issued, net of shares withheld for tax withholdings	$ (399)					(399)
Shares issued for deferred compensation (in shares)	57
Shares issued for deferred compensation	$ 548					548
Activity of treasury shares, net (in shares)		(58)
Activity of treasury shares, net		$ (549)				(549)
Deferred stock compensation			549			549
Stock-based compensation expense	$ 864					864
Stock options exercised, net (in shares)	192
Stock options exercised, net	$ 1,278					1,278
Dividends					(1,286)	(1,286)
Balance (in shares) at Dec. 31, 2022	28,120	(957)
Balance at Dec. 31, 2022	$ 142,988	$ (6,988)	6,988	120	18,208	161,316
Balance at December 31, 2022	$ 142,988	$ (6,988)	6,988	120	18,208	161,316
Balance (in shares)	28,120	(957)
Net Income	$ 0	$ 0	0	0	4,669	4,669
Other comprehensive gain (loss)	$ 0	$ 0	0	117	0	117
Board stock compensation (in shares)	2	0
Board stock compensation	$ 97	$ 0	0	0	0	97
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	29	0
Restricted stock units issued, net of shares withheld for tax withholdings	$ (379)	$ 0	0	0	0	(379)
Shares issued for deferred compensation (in shares)	31	0
Shares issued for deferred compensation	$ 443	$ 0	0	0	0	443
Activity of treasury shares, net (in shares)	0	66
Activity of treasury shares, net	$ 0	$ 252	0	0	0	252
Deferred stock compensation	0	0	(252)	0	0	(252)
Stock-based compensation expense	$ 893	$ 0	0	0	0	893
Stock options exercised, net (in shares)	157	0
Stock options exercised, net	$ 1,861	$ 0	0	0	0	1,861
Dividends	$ 0	$ 0	0	0	(1,371)	(1,371)
ESPP stock Awards (in shares)	10	0
ESPP stock Awards	$ 97	$ 0	0	0	0	97
Balance (in shares) at Mar. 31, 2023	28,349	(891)
Balance at Mar. 31, 2023	$ 146,000	$ (6,736)	6,736	237	21,506	167,743
Balance at December 31, 2022	$ 146,000	$ (6,736)	6,736	237	21,506	167,743
Balance (in shares)	28,349	(891)
Balance at December 31, 2022	$ 148,691	$ (7,166)	7,166	339	28,548	177,578
Balance (in shares)	28,488	(922)
Balance (in shares) at Jun. 30, 2023	28,488	(922)
Balance at Jun. 30, 2023	$ 148,691	$ (7,166)	7,166	339	28,548	177,578
Net Income	0	0	0	0	8,028	8,028
Other comprehensive gain (loss)	$ 0	$ 0	0	(56)	0	(56)
Board stock compensation (in shares)	9	0
Board stock compensation	$ 113	$ 0	0	0	0	113
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	276	0
Restricted stock units issued, net of shares withheld for tax withholdings	$ 0	$ 0	0	0	0	0
Shares issued for deferred compensation (in shares)	32	0
Shares issued for deferred compensation	$ 437	$ 0	0	0	0	437
Activity of treasury shares, net (in shares)	0	(30)
Activity of treasury shares, net	$ 0	$ (417)	0	0	0	(417)
Deferred stock compensation	0	0	417	0	0	417
Stock-based compensation expense	$ 1,220	$ 0	0	0	0
Stock options exercised, net (in shares)	70	0
Stock options exercised, net	$ 549	$ 0	0	0	0	549
Dividends	$ 0	$ 0	0	0	(1,380)	(1,380)
ESPP stock Awards (in shares)	3	0
ESPP stock Awards	$ 57	$ 0	0	0	0	57
Balance (in shares) at Sep. 30, 2023	28,878	(952)
Balance at Sep. 30, 2023	$ 151,067	$ (7,583)	7,583	283	35,196	186,546
Balance (in shares) at Jun. 30, 2023	28,488	(922)
Balance at Jun. 30, 2023	$ 148,691	$ (7,166)	7,166	339	28,548	177,578
Net Income						19,309
Balance (in shares) at Mar. 31, 2024	29,113	(1,019)
Balance at Mar. 31, 2024	$ 154,475	$ (8,520)	8,520	385	43,577	198,437
Balance at December 31, 2022	$ 151,067	$ (7,583)	7,583	283	35,196	186,546
Balance (in shares)	28,878	(952)
Balance (in shares) at Sep. 30, 2023	28,878	(952)
Balance at Sep. 30, 2023	$ 151,067	$ (7,583)	7,583	283	35,196	186,546
Net Income					5,906	5,906
Other comprehensive gain (loss)				71		71
Board stock compensation (in shares)	7
Board stock compensation	$ 112					112
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	28
Restricted stock units issued, net of shares withheld for tax withholdings	$ (244)					(244)
Shares issued for deferred compensation (in shares)	36
Shares issued for deferred compensation	$ 506					506
Activity of treasury shares, net (in shares)		(36)
Activity of treasury shares, net		$ (505)				(505)
Deferred stock compensation			505			505
Stock-based compensation expense	$ 814					814
Stock options exercised, net (in shares)	107
Stock options exercised, net	$ 628					628
Dividends					(1,446)	(1,446)
ESPP stock Awards (in shares)	4
ESPP stock Awards	$ 41					41
Balance (in shares) at Dec. 31, 2023	29,060	(988)
Balance at Dec. 31, 2023	$ 152,924	$ (8,088)	8,088	354	39,656	192,934
Balance at December 31, 2022	$ 152,924	$ (8,088)	8,088	354	39,656	192,934
Balance (in shares)	29,060	(988)
Net Income	$ 0	$ 0	0	0	5,375	5,375
Other comprehensive gain (loss)	$ 0	$ 0	0	31	0	31
Board stock compensation (in shares)	8	0
Board stock compensation	$ 113	$ 0	0	0	0	113
Restricted stock units issued, net of shares withheld for tax withholdings (in shares)	0	0
Restricted stock units issued, net of shares withheld for tax withholdings	$ (60)	$ 0	0	0	0	(60)
Shares issued for deferred compensation (in shares)	29	0
Shares issued for deferred compensation	$ 431	$ 0	0	0	0	431
Activity of treasury shares, net (in shares)	0	(31)
Activity of treasury shares, net	$ 0	$ (432)	0	0	0	(432)
Deferred stock compensation	0	0	432	0	0	432
Stock-based compensation expense	$ 927	$ 0	0	0	0	927
Stock options exercised, net (in shares)	12	0
Stock options exercised, net	$ 93	$ 0	0	0	0	93
Dividends	$ 0	$ 0	0	0	(1,454)	(1,454)
ESPP stock Awards (in shares)	4	0
ESPP stock Awards	$ 47	$ 0	0	0	0	47
Balance (in shares) at Mar. 31, 2024	29,113	(1,019)
Balance at Mar. 31, 2024	$ 154,475	$ (8,520)	8,520	385	43,577	198,437
Balance at December 31, 2022	$ 154,475	$ (8,520)	$ 8,520	$ 385	$ 43,577	$ 198,437
Balance (in shares)	29,113	(1,019)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Dividend per share (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net Income	$ 19,309	$ 17,347
Non-cash items included in net income
Depreciation and amortization	7,143	7,295
Deferred income taxes	(1,143)	59
Deferred compensation plan	1,374	1,530
ESPP discount	145	97
Stock compensation expense	2,961	2,308
Issuance of common shares as compensation	338	270
Loss on disposition of fixed assets	173	37
Allowance for credit losses	57	(80)
Inventory obsolescence reserve	(1,259)	740
Changes in certain assets and liabilities
Accounts receivable	8,894	8,542
Inventories	4,646	6,020
Refundable income taxes	466	(1,865)
Accounts payable	(3,092)	(10,034)
Accrued expenses and other	(6,865)	2,830
Customer prepayments	(850)	(2,548)
Net cash flows provided by operating activities	32,297	32,548
Cash Flows from Investing Activities
Proceeds from the sale of fixed assets	32	1
Purchases of property, plant and equipment	(4,626)	(1,754)
Net cash flows used in investing activities	(4,594)	(1,753)
Cash Flows from Financing Activities
Payments of long-term debt	(102,366)	(150,547)
Borrowings of long-term debt	83,520	120,524
Cash dividends paid	(4,280)	(4,065)
Shares withheld for employees' taxes	(304)	(844)
Payments on financing lease obligations	(241)	(192)
Proceeds from stock option exercises	1,270	3,139
Net cash flows used in financing activities	(22,401)	(31,985)
Change related to foreign currency	45	78
Increase (decrease) in cash and cash equivalents	5,347	(1,112)
Cash and cash equivalents at beginning of period	1,828	2,462
Cash and cash equivalents at end of period	$ 7,175	$ 1,350

Note 1 - Interim Condensed Cons

Note 1 - Interim Condensed Consolidated Financial Statements	9 Months Ended
	Mar. 31, 2024
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 March 31, 2024, the results of its operations for the three and nine-month periods ended March 31, 2024, and 2023, and its cash flows for the nine-month periods ended March 31, 2024, and 2023. These statements should be read in conjunction with the financial statements and footnotes included in the fiscal 2023 Annual Report on Form 10-K. Financial information as of June 30, 2023, has been derived from the Company’s audited consolidated financial statements.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation: A summary of the Company’s significant accounting policies is included in Note 1 to the audited consolidated financial statements of the Company’s fiscal 2023 Annual Report on Form 10-K. Revenue Recognition: The Company recognizes revenue when it satisfies the performance obligation in its customer contracts or purchase orders. Most of the Company’s products have a single performance obligation which is satisfied at a point in time when control is transferred to the customer. Control is generally transferred at time of shipment when title and risk of ownership passes to the customer. For customer contracts with multiple performance obligations, the Company allocates the transaction price and any discounts to each performance obligation based on relative standalone selling prices. Payment terms are typically within 30 to 90 days from the shipping date, depending on the terms with the customer. The Company offers standard warranties that do not represent separate performance obligations. Installation is a separate performance obligation, except for the Company’s digital signage products. For digital signage products, installation is not a separate performance obligation as the product and installation is the combined item promised in digital signage contracts. The Company is not always responsible for installation of products it sells and has no post-installation responsibilities other than standard warranties. A number of the Company's display solutions and select lighting products are customized for specific customers. As a result, these customized products do not have an alternative use. For these products, the Company has a legal right to payment for performance to date and generally does not accept returns on these items. The measurement of performance is based upon cost plus a reasonable profit margin for work completed. Because there is no alternative use and there is a legal right to payment, the Company transfers control of the item as the item is being produced and therefore, recognizes revenue over time. The customized product types are as follows: ● Customer specific branded print graphics ● Electrical components based on customer specifications ● Digital signage and related media content The Company also offers installation services for its display solutions elements and select lighting products. Installation revenue is recognized over time as the customer simultaneously receives and consumes the benefits provided through the installation process. For these customized products and installation services, revenue is recognized using a cost-based input method: recognizing revenue and gross profit as work is performed based on the relationship between the actual cost incurred and the total estimated cost for the performance obligation. On occasion, the Company enters into bill-and-hold arrangements on a limited basis. Each bill-and-hold arrangement is reviewed and revenue is recognized only when certain criteria have been met: (1) the customer has requested delayed delivery and storage of the products by the Company because the customer wants to secure a supply of the products but lacks storage space; (ii) the risk of ownership has passed to the customer; (iii) the products are segregated from the Company’s other inventory items held for sale; (iv) the products are ready for shipment to the customer; and (v) the Company does not have the ability to use the products or direct them to another customer. Disaggregation of Revenue The Company disaggregates the revenue from contracts with customers by the timing of revenue recognition because the Company believes it best depicts the nature, amount, and timing of its revenue and cash flows. The table below presents a reconciliation of the disaggregation by reportable segments: Three Months Ended (In thousands) March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 53,619 $ 30,304 $ 57,249 $ 42,378 Products and services transferred over time 11,263 13,000 9,458 8,385 $ 64,882 $ 43,304 $ 66,707 $ 50,763 Nine Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 165,890 $ 99,560 $ 173,917 $ 136,894 Products and services transferred over time 31,428 43,754 27,157 35,375 $ 197,318 $ 143,314 $ 201,074 $ 172,269 Three Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 53,917 $ 8,321 $ 55,894 $ 4,907 Poles, other display solution elements 10,181 26,628 9,920 37,019 Project management, installation services, shipping and handling 784 8,355 893 8,837 $ 64,882 $ 43,304 $ 66,707 $ 50,763 Nine Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 162,524 $ 26,045 $ 165,839 $ 17,883 Poles, other display solution elements 32,532 86,326 32,681 120,173 Project management, installation services, shipping and handling 2,262 30,943 2,554 34,213 $ 197,318 $ 143,314 $ 201,074 $ 172,269 Practical Expedients and Exemptions ● The Company’s contracts with customers have an expected duration of one year or less, as such, the Company applies the practical expedient to expense sales commissions as incurred and has omitted disclosures on the amount of remaining performance obligations. ● Shipping costs that are not material in context of the delivery of products are expensed as incurred. ● The Company’s accounts receivable balance represents the Company’s unconditional right to receive payment from its customers with contracts. Payments are generally due within 30 to 90 days of completion of the performance obligation and invoicing; therefore, payments do not contain significant financing components. ● The Company collects sales tax and other taxes concurrent with revenue-producing activities which are excluded from revenue. Shipping and handling costs are treated as fulfillment activities and included in cost of products and services sold on the Consolidated Statements of Operations. New Accounting Pronouncements: In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” creating an exception to the recognition and measurement principles in ASC 805. The amendment requires that entities apply ASC 606, “Revenue from Contracts with Customers,” rather than using fair value, to recognize and measure contracts assets and contract liabilities from contracts with customers acquired in a business combination. The ASU is effective for fiscal years beginning after December 15, 2022, and interim periods therein. Early adoption is permitted, including adoption in an interim period, regardless of whether a business combination occurs in that period. The guidance should be applied prospectively; however, an entity that elects to early adopt in an interim period should apply the amendments to all business combinations that occurred during the fiscal year that includes that interim period. There has not been a material impact on the Company’s consolidated financial statements and related disclosures as a result of its adoption of the guidance on July 1, 2023.

Note 3 - Segment Reporting Info

Note 3 - Segment Reporting Information	9 Months Ended
	Mar. 31, 2024
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. The Company’s two The Lighting Segment includes non-residential outdoor and indoor lighting fixtures utilizing LED light sources that have been fabricated and assembled for the Company’s markets, primarily the refueling and convenience store markets, parking lot and garage markets, quick-service restaurant market, retail and grocery store markets, the automotive market, the warehouse market, and the sports court and field market. The Company also services lighting product customers through the commercial and industrial project, stock and flow, and renovation channels. In addition to the manufacture and sale of lighting fixtures, the Company offers a variety of lighting controls to complement its lighting fixtures which include sensors, photocontrols, dimmers, motion detection and Bluetooth systems. The Lighting Segment also includes the design, engineering and manufacturing of electronic circuit boards, assemblies and sub-assemblies which are sold directly to customers. The Display Solutions Segment manufactures, sells and installs exterior and interior visual image and display elements, including printed graphics, structural graphics, digital signage, menu board systems, display fixtures, refrigerated displays, and custom display elements. These products are used in visual image programs in several markets including the refueling and convenience store markets, parking lot and garage markets, quick-service restaurant market, retail and grocery store markets, the automotive market, the warehouse market, and the sports court and field market. The Display Solutions Segment also provides a variety of project management services to complement our display elements, such as installation management, site surveys, permitting, and content management which are offered to our customers to support our digital signage. 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, equity compensation expense for various equity awards 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 were no no Summarized financial information for the Company’s operating segments is provided for the indicated periods and as of March 31, 2024, and March 31, 2023: Three Months Ended Nine Months Ended (In thousands) March 31 March 31 2024 2023 2024 2023 Net Sales: Lighting Segment $ 64,882 $ 66,707 $ 197,318 $ 201,074 Display Solutions Segment 43,304 50,763 143,314 172,269 $ 108,186 $ 117,470 $ 340,632 $ 373,343 Operating Income (Loss): Lighting Segment $ 7,268 $ 6,529 $ 24,877 $ 22,441 Display Solutions Segment 4,064 5,501 14,585 19,759 Corporate and Eliminations (3,672 ) (4,298 ) (12,955 ) (15,409 ) $ 7,660 $ 7,732 $ 26,507 $ 26,791 Capital Expenditures: Lighting Segment $ 999 $ 401 $ 3,012 $ 725 Display Solutions Segment 167 338 1,215 1,038 Corporate and Eliminations 111 19 399 (9 ) $ 1,277 $ 758 $ 4,626 $ 1,754 Depreciation and Amortization: Lighting Segment $ 2,635 $ 1,344 $ 3,944 $ 4,113 Display Solutions Segment 1,970 1,044 2,946 2,993 Corporate and Eliminations 75 67 253 189 $ 4,680 $ 2,455 $ 7,143 $ 7,295 March 31, June 30, Total Assets: Lighting Segment $ 135,569 $ 142,941 Display Solutions Segment 138,449 145,307 Corporate and Eliminations 13,951 7,901 $ 287,969 $ 296,149 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. The Company records a 10% mark-up on intersegment revenues. Any intersegment profit in inventory is eliminated in consolidation. Intersegment revenues were eliminated in consolidation as follows: Inter-segment sales Three Months Ended Nine Months Ended (In thousands) March 31 March 31 2024 2023 2024 2023 Lighting Segment inter-segment net sales $ 6,318 $ 5,101 $ 18,468 $ 16,312 Display Solutions Segment inter-segment net sales $ 96 $ 175 $ 536 $ 139 The Company’s operations are located solely within North America. As a result, the geographic distribution of the Company’s net sales and long-lived assets originate within North America.

Note 4 - Earnings Per Common Sh

Note 4 - Earnings Per Common Share	9 Months Ended
	Mar. 31, 2024
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 Nine Months Ended March 31 March 31 2024 2023 2024 2023 BASIC EARNINGS PER SHARE Net income $ 5,375 $ 4,669 $ 19,309 $ 17,347 Weighted average shares outstanding during the period, net of treasury shares 28,084 27,376 27,933 27,050 Weighted average vested restricted stock units outstanding 75 52 78 70 Weighted average shares outstanding in the Deferred Compensation Plan during the period 1,004 878 970 892 Weighted average shares outstanding 29,163 28,306 28,981 28,012 Basic earnings per common share $ 0.18 $ 0.16 $ 0.67 $ 0.62 DILUTED EARNINGS PER SHARE Net income $ 5,375 $ 4,669 $ 19,309 $ 17,347 Weighted average shares outstanding: Basic 29,163 28,306 28,981 28,012 Effect of dilutive securities (a): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 959 1,305 1,024 1,043 Weighted average shares outstanding 30,122 29,611 30,005 29,055 Diluted earnings per common share $ 0.18 $ 0.16 $ 0.64 $ 0.60 Anti-dilutive securities (b) 3 - 10 181 (a) 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. (b) Anti-dilutive securities were excluded from the computation of diluted net income per share for the three months ended March 31, 2024, and March 31, 2023, because the exercise price was greater than the average fair market price of the common shares or because the assumed proceeds from the award’s exercise or vesting was greater than the average fair market price of the common shares.

Note 5 - Inventories

Note 5 - Inventories	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 INVENTORIES The following information is provided as of the dates indicated: March 31, June 30, (In thousands) 2024 2023 Inventories: Raw materials $ 44,051 $ 47,689 Work-in-progress 3,790 3,373 Finished goods 12,490 12,656 Total Inventories $ 60,331 $ 63,718

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	9 Months Ended
	Mar. 31, 2024
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: March 31, June 30, (In thousands) 2024 2023 Accrued Expenses: Customer prepayments $ 4,575 $ 5,425 Compensation and benefits 10,016 13,116 Accrued warranty 6,009 6,501 Operating lease liabilities 3,557 3,566 Accrued sales commissions 4,185 5,082 Accrued Freight 2,898 3,821 Accrued FICA 543 546 Finance lease liabilities 317 284 Other accrued expenses 4,476 5,444 Total Accrued Expenses $ 36,576 $ 43,785

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 7 - GOODWILL AND OTHER INTANGIBLE ASSETS The carrying values of goodwill and other intangible assets with indefinite lives are reviewed at least annually for possible impairment. The Company may first assess qualitative factors in order to determine if goodwill and indefinite-lived intangible assets are impaired. If through the qualitative assessment it is determined that it is more likely than not that goodwill and indefinite-lived assets are not impaired, no further testing is required. If it is determined more likely than not that goodwill and indefinite-lived assets are impaired, or if the Company elects not to first assess qualitative factors, the Company’s impairment testing continues with the estimation of the fair value of the reporting unit 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 unit 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 the 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 have become impaired between annual impairment tests. Indicators such as adverse business conditions, economic factors and technological change or competitive activities may signal that an asset has become impaired. The Company identified its reporting units in conjunction with its annual goodwill impairment testing. The Company has a total of three One two The following table presents information about the Company's goodwill on the dates or for the periods indicated: Goodwill Display (In thousands) Lighting Solutions Segment Segment Total Balance as of March 31, 2024 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of March 31, 2024 $ 9,208 $ 35,822 $ 45,030 Balance as of June 30, 2023 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of June 30, 2023 $ 9,208 $ 35,822 $ 45,030 The gross carrying amount and accumulated amortization by each major intangible asset class is as follows: Other Intangible Assets March 31, 2024 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 20,379 $ 41,704 Patents 268 268 - LED technology firmware, software 20,966 16,670 4,296 Trade name 2,658 1,238 1,420 Non-compete 260 149 111 Total Amortized Intangible Assets 86,235 38,704 47,531 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 38,704 $ 59,633 Other Intangible Assets June 30, 2023 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 17,817 $ 44,266 Patents 268 268 - LED technology firmware, software 20,966 15,783 5,183 Trade name 2,658 1,156 1,502 Non-compete 260 110 150 Total Amortized Intangible Assets 86,235 35,134 51,101 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 35,134 $ 63,203 Three Months Ended Nine Months Ended March 31 March 31 (In thousands) 2024 2023 2024 2023 Amortization Expense of Other Intangible Assets $ 1,190 $ 1,190 $ 3,570 $ 3,570 The Company expects to record annual amortization expense as follows: (In thousands) 2024 $ 4,760 2025 $ 4,760 2026 $ 4,760 2027 $ 4,754 2028 $ 4,708 After 2028 $ 27,359

Note 8 - Debt

Note 8 - Debt	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - DEBT The Company’s long-term debt as of March 31, 2024, and June 30, 2023, consisted of the following: March 31, June 30, (In thousands) 2024 2023 Secured line of credit $ - $ 18,729 Term loan, net of debt issuance costs of $20 and $30, respectively 16,353 16,471 Total debt $ 16,353 $ 35,200 Less: amounts due within one year 3,571 3,571 Total amounts due after one year, net $ 12,782 $ 31,629 In September 2021, the Company amended its existing $100 million secured line of credit, to a $25 million term loan and $75 million remaining as a secured revolving line of credit. Both facilities expire in the third quarter of fiscal 2026. The principal of the term loan is repaid annually in the amount of $3.6 million over a five The Company is in compliance with all of its loan covenants as of March 31, 2024.

Note 9 - Cash Dividends

Note 9 - Cash Dividends	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 9 - CASH DIVIDENDS The Company paid cash dividends of $4.3 million and $4.1 million for the nine months ended March 31, 2024, and March 31, 2023, respectively. In April 2024, the Board of Directors declared a regular quarterly cash dividend of $0.05 per share payable May 14, 2024 May 6, 2024

Note 10 - Equity Compensation

Note 10 - Equity Compensation	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 10 EQUITY COMPENSATION The 2019 Omnibus Award Plan (“2019 Omnibus Plan”) authorizes for issuance up to 2,350,000 shares. The purpose of the 2019 Omnibus Plan is to provide a means to attract and retain key personnel and to align the interests of the directors, officers, and employees with the Company’s shareholders. The plan also provides a vehicle whereby directors and officers may acquire shares in order to meet the ownership requirements under the Company’s Stock Ownership Policy. The 2019 Omnibus Plan allows for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”), performance stock units (“PSUs”) and other awards. While RSU grants are time-based, PSU grants offer participants the opportunity to acquire shares over a three-year In the first nine months of fiscal 2024, the Company granted 175,251 PSUs and 116,834 RSUs, both with a weighted average market value of $12.76. Stock compensation expense was $0.9 million and $0.9 million for the three months ended March 31, 2024, and 2023, respectively, and $2.9 million and $2.3 million in the nine months ended March 31, 2024, and 2023, respectively. In the third quarter of fiscal 2024, the Company granted 30,000 inducement stock options, with a weighted average fair market value of $14.41. Stock compensation expense was $0.1 million for the three and nine months ended March 31, 2024, respectively. In November of 2021, our board of directors approved the LSI Employee Stock Purchase Plan (“ESPP”). A total of 270,000 shares of common stock were provided for issuance under the ESPP. Employees may participate at their discretion and are able to purchase, through payroll deduction, common stock at a 10% discount on a quarterly basis. Employees may end their participation at any time during the offering period, and participation ends automatically upon termination of employment with the company. During the first nine months of fiscal year 2024, employees purchased 11,000 shares. At March 31, 2024, 245,000 shares remained available for purchase under the ESPP.

Note 11 - Supplemental Cash Flo

Note 11 - Supplemental Cash Flow Information	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 11 - SUPPLEMENTAL CASH FLOW INFORMATION Nine Months Ended (In thousands) March 31 2024 2023 Cash Payments: Interest $ 1,122 $ 2,325 Income taxes $ 6,317 $ 7,808 Non-cash investing and financing activities Issuance of common shares as compensation $ 338 $ 270 Issuance of common shares to fund deferred compensation plan $ 1,374 $ 1,530 Issuance of common shares to fund ESPP plan $ 145 $ 97

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 - 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. Because it is not possible to predict with certainty the outcome or costs of these matters, the Company does not disclose a range of potential losses. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s financial position, results of operations, cash flows or liquidity. The Company may occasionally issue a standby letter of credit in favor of third parties. As of March 31, 2024, there were no

Note 13 - Leases

Note 13 - Leases	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Lessee, Leases [Text Block]	NOTE 13 - LEASES The Company leases certain manufacturing facilities along with a small office space, several forklifts, several small tooling items, and various items of office equipment. The Company also has one sublease. All but two of the Company’s leases are operating leases. Leases have a remaining term of one seven The Company has periodically entered into short-term operating leases with an initial term of twelve months or less. The Company elected not to record these leases on the balance sheet. For the three and nine months ended March 31, 2024, and 2023, the rent expense for these leases is immaterial. The Company has certain leases that contain lease and non-lease components and has elected to utilize the practical expedient to account for these components together as a single lease component. Lease expense is recognized on a straight-line basis over the lease term. The Company used its incremental borrowing rate when determining the present value of lease payments. Three Months Ended Nine Months Ended March 31 March 31 (In thousands) 2024 2023 2024 2023 Operating lease cost $ 993 $ 884 $ 2,893 $ 2,661 Financing lease cost: Amortization of right of use assets 73 74 219 221 Interest on lease liabilities 13 16 41 51 Variable lease cost 22 22 65 65 Sublease income (116 ) (116 ) (348 ) (348 ) Total lease cost $ 985 $ 880 $ 2,870 $ 2,650 Supplemental Cash Flow Information: Nine Months Ended March 31 (In thousands) 2024 2023 Cash flows from operating leases Fixed payments - operating cash flows $ 2,806 $ 2,754 Liability reduction - operating cash flows $ 2,421 $ 2,451 Cash flows from finance leases Interest - operating cash flows $ 41 $ 51 Repayments of principal portion - financing cash flows $ 241 $ 192 Operating Leases: March 31, June 30, 2024 2023 Total operating right-of-use assets $ 9,063 $ 8,921 Accrued expenses (Current liabilities) $ 3,557 $ 3,566 Long-term operating lease liability 6,222 5,954 Total operating lease liabilities $ 9,779 $ 9,520 Weighted Average remaining Lease Term (in years) 3.77 3.31 Weighted Average Discount Rate 5.35 % 5.44 % Finance Leases: March 31, June 30, 2024 2023 Buildings under finance leases $ 2,033 $ 2,033 Equipment under finance leases 41 34 Accumulated depreciation (1,159 ) (929 ) Total finance lease assets, net $ 915 $ 1,138 Accrued expenses (Current liabilities) $ 317 $ 284 Long-term finance lease liability 719 960 Total finance lease liabilities $ 1,036 $ 1,244 Weighted Average remaining Lease Term (in years) 3.08 3.83 Weighted Average Discount Rate 4.86 % 4.86 % Maturities of Lease Liability: Operating Lease Liabilities Finance Lease Liabilities Operating Subleases Net Lease Commitments 2024 $ 3,577 $ 317 $ (94 ) $ 3,800 2025 2,675 362 (31 ) 3,006 2026 1,824 362 - 2,186 2027 1,360 114 - 1,474 2028 496 - - 496 Thereafter 1,049 - - 1,049 Total lease payments $ 10,981 $ 1,155 $ (125 ) $ 12,011 Less: Interest (1,202 ) (119 ) (1,321 ) Present Value of Lease Liabilities $ 9,779 $ 1,036 $ 10,690

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 14 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. Three Months Ended Nine Months Ended March 31 March 31 2024 2023 2024 2023 Reconciliation of effective tax rate: Provision for income taxes at the anticipated annual tax rate 25.3 % 30.5 % 26.0 % 25.9 % Uncertain tax positions 2.6 1.2 0.3 0.3 Other - 0.7 - 0.2 Share-based compensation - 0.2 (2.9 ) 0.6 Effective tax rate 27.9 % 32.6 % 23.4 % 27.0 %

Note 15 - Subsequent Events

Note 15 - Subsequent Events	9 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 15 SUBSEQUENT EVENTS On April 18, 2024, the Company announced the acquisition of privately held EMI Industries (“EMI”) for an all-cash purchase price of $50 million. LSI funded the acquisition with cash and availability under its existing credit facility. Florida-based EMI is a metal and millwork manufacturer of standard and customized fixtures, displays, and food equipment for the convenience store, grocery, and restaurant industries. EMI designs and manufactures products from five

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5. OTHER INFORMATION None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation: A summary of the Company’s significant accounting policies is included in Note 1 to the audited consolidated financial statements of the Company’s fiscal 2023 Annual Report on Form 10-K.
Revenue [Policy Text Block]	Revenue Recognition: The Company recognizes revenue when it satisfies the performance obligation in its customer contracts or purchase orders. Most of the Company’s products have a single performance obligation which is satisfied at a point in time when control is transferred to the customer. Control is generally transferred at time of shipment when title and risk of ownership passes to the customer. For customer contracts with multiple performance obligations, the Company allocates the transaction price and any discounts to each performance obligation based on relative standalone selling prices. Payment terms are typically within 30 to 90 days from the shipping date, depending on the terms with the customer. The Company offers standard warranties that do not represent separate performance obligations. Installation is a separate performance obligation, except for the Company’s digital signage products. For digital signage products, installation is not a separate performance obligation as the product and installation is the combined item promised in digital signage contracts. The Company is not always responsible for installation of products it sells and has no post-installation responsibilities other than standard warranties. A number of the Company's display solutions and select lighting products are customized for specific customers. As a result, these customized products do not have an alternative use. For these products, the Company has a legal right to payment for performance to date and generally does not accept returns on these items. The measurement of performance is based upon cost plus a reasonable profit margin for work completed. Because there is no alternative use and there is a legal right to payment, the Company transfers control of the item as the item is being produced and therefore, recognizes revenue over time. The customized product types are as follows: ● Customer specific branded print graphics ● Electrical components based on customer specifications ● Digital signage and related media content The Company also offers installation services for its display solutions elements and select lighting products. Installation revenue is recognized over time as the customer simultaneously receives and consumes the benefits provided through the installation process. For these customized products and installation services, revenue is recognized using a cost-based input method: recognizing revenue and gross profit as work is performed based on the relationship between the actual cost incurred and the total estimated cost for the performance obligation. On occasion, the Company enters into bill-and-hold arrangements on a limited basis. Each bill-and-hold arrangement is reviewed and revenue is recognized only when certain criteria have been met: (1) the customer has requested delayed delivery and storage of the products by the Company because the customer wants to secure a supply of the products but lacks storage space; (ii) the risk of ownership has passed to the customer; (iii) the products are segregated from the Company’s other inventory items held for sale; (iv) the products are ready for shipment to the customer; and (v) the Company does not have the ability to use the products or direct them to another customer. Disaggregation of Revenue The Company disaggregates the revenue from contracts with customers by the timing of revenue recognition because the Company believes it best depicts the nature, amount, and timing of its revenue and cash flows. The table below presents a reconciliation of the disaggregation by reportable segments: Three Months Ended (In thousands) March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 53,619 $ 30,304 $ 57,249 $ 42,378 Products and services transferred over time 11,263 13,000 9,458 8,385 $ 64,882 $ 43,304 $ 66,707 $ 50,763 Nine Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 165,890 $ 99,560 $ 173,917 $ 136,894 Products and services transferred over time 31,428 43,754 27,157 35,375 $ 197,318 $ 143,314 $ 201,074 $ 172,269 Three Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 53,917 $ 8,321 $ 55,894 $ 4,907 Poles, other display solution elements 10,181 26,628 9,920 37,019 Project management, installation services, shipping and handling 784 8,355 893 8,837 $ 64,882 $ 43,304 $ 66,707 $ 50,763 Nine Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 162,524 $ 26,045 $ 165,839 $ 17,883 Poles, other display solution elements 32,532 86,326 32,681 120,173 Project management, installation services, shipping and handling 2,262 30,943 2,554 34,213 $ 197,318 $ 143,314 $ 201,074 $ 172,269 Practical Expedients and Exemptions ● The Company’s contracts with customers have an expected duration of one year or less, as such, the Company applies the practical expedient to expense sales commissions as incurred and has omitted disclosures on the amount of remaining performance obligations. ● Shipping costs that are not material in context of the delivery of products are expensed as incurred. ● The Company’s accounts receivable balance represents the Company’s unconditional right to receive payment from its customers with contracts. Payments are generally due within 30 to 90 days of completion of the performance obligation and invoicing; therefore, payments do not contain significant financing components. ● The Company collects sales tax and other taxes concurrent with revenue-producing activities which are excluded from revenue. Shipping and handling costs are treated as fulfillment activities and included in cost of products and services sold on the Consolidated Statements of Operations.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements: In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” creating an exception to the recognition and measurement principles in ASC 805. The amendment requires that entities apply ASC 606, “Revenue from Contracts with Customers,” rather than using fair value, to recognize and measure contracts assets and contract liabilities from contracts with customers acquired in a business combination. The ASU is effective for fiscal years beginning after December 15, 2022, and interim periods therein. Early adoption is permitted, including adoption in an interim period, regardless of whether a business combination occurs in that period. The guidance should be applied prospectively; however, an entity that elects to early adopt in an interim period should apply the amendments to all business combinations that occurred during the fiscal year that includes that interim period. There has not been a material impact on the Company’s consolidated financial statements and related disclosures as a result of its adoption of the guidance on July 1, 2023.

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended (In thousands) March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 53,619 $ 30,304 $ 57,249 $ 42,378 Products and services transferred over time 11,263 13,000 9,458 8,385 $ 64,882 $ 43,304 $ 66,707 $ 50,763 Nine Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Timing of revenue recognition Products and services transferred at a point in time $ 165,890 $ 99,560 $ 173,917 $ 136,894 Products and services transferred over time 31,428 43,754 27,157 35,375 $ 197,318 $ 143,314 $ 201,074 $ 172,269 Three Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 53,917 $ 8,321 $ 55,894 $ 4,907 Poles, other display solution elements 10,181 26,628 9,920 37,019 Project management, installation services, shipping and handling 784 8,355 893 8,837 $ 64,882 $ 43,304 $ 66,707 $ 50,763 Nine Months Ended March 31, 2024 March 31, 2023 Lighting Segment Display Solutions Segment Lighting Segment Display Solutions Segment Type of Product and Services LED lighting, digital signage solutions, electronic circuit boards $ 162,524 $ 26,045 $ 165,839 $ 17,883 Poles, other display solution elements 32,532 86,326 32,681 120,173 Project management, installation services, shipping and handling 2,262 30,943 2,554 34,213 $ 197,318 $ 143,314 $ 201,074 $ 172,269

Note 3 - Segment Reporting In_2

Note 3 - Segment Reporting Information (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Nine Months Ended (In thousands) March 31 March 31 2024 2023 2024 2023 Net Sales: Lighting Segment $ 64,882 $ 66,707 $ 197,318 $ 201,074 Display Solutions Segment 43,304 50,763 143,314 172,269 $ 108,186 $ 117,470 $ 340,632 $ 373,343 Operating Income (Loss): Lighting Segment $ 7,268 $ 6,529 $ 24,877 $ 22,441 Display Solutions Segment 4,064 5,501 14,585 19,759 Corporate and Eliminations (3,672 ) (4,298 ) (12,955 ) (15,409 ) $ 7,660 $ 7,732 $ 26,507 $ 26,791 Capital Expenditures: Lighting Segment $ 999 $ 401 $ 3,012 $ 725 Display Solutions Segment 167 338 1,215 1,038 Corporate and Eliminations 111 19 399 (9 ) $ 1,277 $ 758 $ 4,626 $ 1,754 Depreciation and Amortization: Lighting Segment $ 2,635 $ 1,344 $ 3,944 $ 4,113 Display Solutions Segment 1,970 1,044 2,946 2,993 Corporate and Eliminations 75 67 253 189 $ 4,680 $ 2,455 $ 7,143 $ 7,295
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, June 30, Total Assets: Lighting Segment $ 135,569 $ 142,941 Display Solutions Segment 138,449 145,307 Corporate and Eliminations 13,951 7,901 $ 287,969 $ 296,149
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Inter-segment sales Three Months Ended Nine Months Ended (In thousands) March 31 March 31 2024 2023 2024 2023 Lighting Segment inter-segment net sales $ 6,318 $ 5,101 $ 18,468 $ 16,312 Display Solutions Segment inter-segment net sales $ 96 $ 175 $ 536 $ 139

Note 4 - Earnings Per Common _2

Note 4 - Earnings Per Common Share (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended March 31 March 31 2024 2023 2024 2023 BASIC EARNINGS PER SHARE Net income $ 5,375 $ 4,669 $ 19,309 $ 17,347 Weighted average shares outstanding during the period, net of treasury shares 28,084 27,376 27,933 27,050 Weighted average vested restricted stock units outstanding 75 52 78 70 Weighted average shares outstanding in the Deferred Compensation Plan during the period 1,004 878 970 892 Weighted average shares outstanding 29,163 28,306 28,981 28,012 Basic earnings per common share $ 0.18 $ 0.16 $ 0.67 $ 0.62 DILUTED EARNINGS PER SHARE Net income $ 5,375 $ 4,669 $ 19,309 $ 17,347 Weighted average shares outstanding: Basic 29,163 28,306 28,981 28,012 Effect of dilutive securities (a): Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any 959 1,305 1,024 1,043 Weighted average shares outstanding 30,122 29,611 30,005 29,055 Diluted earnings per common share $ 0.18 $ 0.16 $ 0.64 $ 0.60 Anti-dilutive securities (b) 3 - 10 181

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, June 30, (In thousands) 2024 2023 Inventories: Raw materials $ 44,051 $ 47,689 Work-in-progress 3,790 3,373 Finished goods 12,490 12,656 Total Inventories $ 60,331 $ 63,718

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, June 30, (In thousands) 2024 2023 Accrued Expenses: Customer prepayments $ 4,575 $ 5,425 Compensation and benefits 10,016 13,116 Accrued warranty 6,009 6,501 Operating lease liabilities 3,557 3,566 Accrued sales commissions 4,185 5,082 Accrued Freight 2,898 3,821 Accrued FICA 543 546 Finance lease liabilities 317 284 Other accrued expenses 4,476 5,444 Total Accrued Expenses $ 36,576 $ 43,785

Note 7 - Goodwill and Other I_2

Note 7 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	Goodwill Display (In thousands) Lighting Solutions Segment Segment Total Balance as of March 31, 2024 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of March 31, 2024 $ 9,208 $ 35,822 $ 45,030 Balance as of June 30, 2023 Goodwill $ 70,971 $ 63,347 $ 134,318 Accumulated impairment losses (61,763 ) (27,525 ) (89,288 ) Goodwill, net as of June 30, 2023 $ 9,208 $ 35,822 $ 45,030
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Assets March 31, 2024 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 20,379 $ 41,704 Patents 268 268 - LED technology firmware, software 20,966 16,670 4,296 Trade name 2,658 1,238 1,420 Non-compete 260 149 111 Total Amortized Intangible Assets 86,235 38,704 47,531 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 38,704 $ 59,633 Other Intangible Assets June 30, 2023 (In thousands) Gross Carrying Accumulated Net Amount Amortization Amount Amortized Intangible Assets Customer relationships $ 62,083 $ 17,817 $ 44,266 Patents 268 268 - LED technology firmware, software 20,966 15,783 5,183 Trade name 2,658 1,156 1,502 Non-compete 260 110 150 Total Amortized Intangible Assets 86,235 35,134 51,101 Indefinite-lived Intangible Assets Trademarks and trade names 12,102 - 12,102 Total indefinite-lived Intangible Assets 12,102 - 12,102 Total Other Intangible Assets $ 98,337 $ 35,134 $ 63,203
Finite-Lived Intangible Assets Amortization Expense [Table Text Block]	Three Months Ended Nine Months Ended March 31 March 31 (In thousands) 2024 2023 2024 2023 Amortization Expense of Other Intangible Assets $ 1,190 $ 1,190 $ 3,570 $ 3,570
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	(In thousands) 2024 $ 4,760 2025 $ 4,760 2026 $ 4,760 2027 $ 4,754 2028 $ 4,708 After 2028 $ 27,359

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Debt [Table Text Block]	March 31, June 30, (In thousands) 2024 2023 Secured line of credit $ - $ 18,729 Term loan, net of debt issuance costs of $20 and $30, respectively 16,353 16,471 Total debt $ 16,353 $ 35,200 Less: amounts due within one year 3,571 3,571 Total amounts due after one year, net $ 12,782 $ 31,629

Note 11 - Supplemental Cash F_2

Note 11 - Supplemental Cash Flow Information (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Nine Months Ended (In thousands) March 31 2024 2023 Cash Payments: Interest $ 1,122 $ 2,325 Income taxes $ 6,317 $ 7,808 Non-cash investing and financing activities Issuance of common shares as compensation $ 338 $ 270 Issuance of common shares to fund deferred compensation plan $ 1,374 $ 1,530 Issuance of common shares to fund ESPP plan $ 145 $ 97

Note 13 - Leases (Tables)

Note 13 - Leases (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended March 31 March 31 (In thousands) 2024 2023 2024 2023 Operating lease cost $ 993 $ 884 $ 2,893 $ 2,661 Financing lease cost: Amortization of right of use assets 73 74 219 221 Interest on lease liabilities 13 16 41 51 Variable lease cost 22 22 65 65 Sublease income (116 ) (116 ) (348 ) (348 ) Total lease cost $ 985 $ 880 $ 2,870 $ 2,650 Supplemental Cash Flow Information: Nine Months Ended March 31 (In thousands) 2024 2023 Cash flows from operating leases Fixed payments - operating cash flows $ 2,806 $ 2,754 Liability reduction - operating cash flows $ 2,421 $ 2,451 Cash flows from finance leases Interest - operating cash flows $ 41 $ 51 Repayments of principal portion - financing cash flows $ 241 $ 192 Operating Leases: March 31, June 30, 2024 2023 Total operating right-of-use assets $ 9,063 $ 8,921 Accrued expenses (Current liabilities) $ 3,557 $ 3,566 Long-term operating lease liability 6,222 5,954 Total operating lease liabilities $ 9,779 $ 9,520 Weighted Average remaining Lease Term (in years) 3.77 3.31 Weighted Average Discount Rate 5.35 % 5.44 % Finance Leases: March 31, June 30, 2024 2023 Buildings under finance leases $ 2,033 $ 2,033 Equipment under finance leases 41 34 Accumulated depreciation (1,159 ) (929 ) Total finance lease assets, net $ 915 $ 1,138 Accrued expenses (Current liabilities) $ 317 $ 284 Long-term finance lease liability 719 960 Total finance lease liabilities $ 1,036 $ 1,244 Weighted Average remaining Lease Term (in years) 3.08 3.83 Weighted Average Discount Rate 4.86 % 4.86 %
Lessee, Leases, Liability, Maturity [Table Text Block]	Maturities of Lease Liability: Operating Lease Liabilities Finance Lease Liabilities Operating Subleases Net Lease Commitments 2024 $ 3,577 $ 317 $ (94 ) $ 3,800 2025 2,675 362 (31 ) 3,006 2026 1,824 362 - 2,186 2027 1,360 114 - 1,474 2028 496 - - 496 Thereafter 1,049 - - 1,049 Total lease payments $ 10,981 $ 1,155 $ (125 ) $ 12,011 Less: Interest (1,202 ) (119 ) (1,321 ) Present Value of Lease Liabilities $ 9,779 $ 1,036 $ 10,690

Note 14 - Income Taxes (Tables)

Note 14 - Income Taxes (Tables)	9 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Three Months Ended Nine Months Ended March 31 March 31 2024 2023 2024 2023 Reconciliation of effective tax rate: Provision for income taxes at the anticipated annual tax rate 25.3 % 30.5 % 26.0 % 25.9 % Uncertain tax positions 2.6 1.2 0.3 0.3 Other - 0.7 - 0.2 Share-based compensation - 0.2 (2.9 ) 0.6 Effective tax rate 27.9 % 32.6 % 23.4 % 27.0 %

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net Sales	$ 108,186	$ 117,470	$ 340,632	$ 373,343
Lighting Segment [Member]
Net Sales	64,882	66,707	197,318	201,074
Lighting Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Net Sales	53,917	55,894	162,524	165,839
Lighting Segment [Member] | Poles, Other Display Solution Elements [Member]
Net Sales	10,181	9,920	32,532	32,681
Lighting Segment [Member] | Project Management, Installation Services, Shipping and Handling [Member]
Net Sales	784	893	2,262	2,554
Display Solutions Segment [Member]
Net Sales	43,304	50,763	143,314	172,269
Display Solutions Segment [Member] | LED Lighting, Digital Signage, Electronic Circuit Boards [Member]
Net Sales	8,321	4,907	26,045	17,883
Display Solutions Segment [Member] | Poles, Other Display Solution Elements [Member]
Net Sales	26,628	37,019	86,326	120,173
Display Solutions Segment [Member] | Project Management, Installation Services, Shipping and Handling [Member]
Net Sales	8,355	8,837	30,943	34,213
Transferred at Point in Time [Member] | Lighting Segment [Member]
Net Sales	53,619	57,249	165,890	173,917
Transferred at Point in Time [Member] | Display Solutions Segment [Member]
Net Sales	30,304	42,378	99,560	136,894
Transferred over Time [Member] | Lighting Segment [Member]
Net Sales	11,263	9,458	31,428	27,157
Transferred over Time [Member] | Display Solutions Segment [Member]
Net Sales	$ 13,000	$ 8,385	$ 43,754	$ 35,375

Note 3 - Segment Reporting In_3

Note 3 - Segment Reporting Information (Details Textual)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Number of Operating Segments			2
Intersegment Revenue Markup Percentage			10%
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers	0	0	0	0
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers			0	0

Note 3 - Segment Reporting In_4

Note 3 - Segment Reporting Information - Summarized Financial Information by Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net Sales	$ 108,186	$ 117,470	$ 340,632	$ 373,343
Operating Income (Loss)	7,660	7,732	26,507	26,791
Capital Expenditures	1,277	758	4,626	1,754
Depreciation and amortization	4,680	2,455	7,143	7,295
Corporate and Eliminations [Member]
Operating Income (Loss)	(3,672)	(4,298)	(12,955)	(15,409)
Capital Expenditures	111	19	399	(9)
Depreciation and amortization	75	67	253	189
Lighting Segment [Member]
Net Sales	64,882	66,707	197,318	201,074
Lighting Segment [Member] | Operating Segments [Member]
Operating Income (Loss)	7,268	6,529	24,877	22,441
Capital Expenditures	999	401	3,012	725
Depreciation and amortization	2,635	1,344	3,944	4,113
Display Solutions Segment [Member]
Net Sales	43,304	50,763	143,314	172,269
Display Solutions Segment [Member] | Operating Segments [Member]
Operating Income (Loss)	4,064	5,501	14,585	19,759
Capital Expenditures	167	338	1,215	1,038
Depreciation and amortization	$ 1,970	$ 1,044	$ 2,946	$ 2,993

Note 3 - Segment Reporting In_5

Note 3 - Segment Reporting Information - Identifiable Assets by Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Total Assets	$ 287,969	$ 296,149
Corporate and Eliminations [Member]
Total Assets	13,951	7,901
Lighting Segment [Member] | Operating Segments [Member]
Total Assets	135,569	142,941
Display Solutions Segment [Member] | Operating Segments [Member]
Total Assets	$ 138,449	$ 145,307

Note 3 - Segment Reporting In_6

Note 3 - Segment Reporting Information - Intersegment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 108,186	$ 117,470	$ 340,632	$ 373,343
Lighting Segment [Member]
Net sales	64,882	66,707	197,318	201,074
Display Solutions Segment [Member]
Net sales	43,304	50,763	143,314	172,269
Intersegment Eliminations [Member] | Lighting Segment [Member]
Net sales	6,318	5,101	18,468	16,312
Intersegment Eliminations [Member] | Display Solutions Segment [Member]
Net sales	$ 96	$ 175	$ 536	$ 139

Note 4 - Earnings Per Common _3

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
		Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2024	Mar. 31, 2023
Net Income		$ 5,375	$ 5,906	$ 8,028	$ 4,669	$ 6,417	$ 6,261	$ 19,309	$ 17,347
Weighted average shares outstanding during the period, net of treasury shares (in shares)		28,084			27,376			27,933	27,050
Weighted average vested restricted stock units outstanding (in shares)		1,004			878			970	892
Weighted average shares outstanding (in shares)		29,163			28,306			28,981	28,012
Basic earnings per common share (in dollars per share)		$ 0.18			$ 0.16			$ 0.67	$ 0.62
Basic (in shares)		29,163			28,306			28,981	28,012
Impact of common shares to be issued under stock option plans, and contingently issuable shares, if any (in shares)	[1]	959			1,305			1,024	1,043
Weighted average shares outstanding (in shares)		30,122			29,611			30,005	29,055
Diluted earnings per common share (in dollars per share)		$ 0.18			$ 0.16			$ 0.64	$ 0.6
Anti-dilutive securities (b) (in shares)	[2]	3			0			10	181
Restricted Stock Units (RSUs) [Member]
Weighted average vested restricted stock units outstanding (in shares)		75			52			78	70
[1]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.[2]Anti-dilutive securities were excluded from the computation of diluted net income per share for the three months ended March 31, 2024, and March 31, 2023, because the exercise price was greater than the average fair market price of the common shares or because the assumed proceeds from the award’s exercise or vesting was greater than the average fair market price of the common shares.

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Raw materials	$ 44,051	$ 47,689
Work-in-progress	3,790	3,373
Finished goods	12,490	12,656
Total Inventories	$ 60,331	$ 63,718

Note 6 - Accrued Expenses - Acc

Note 6 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Customer prepayments	$ 4,575	$ 5,425
Compensation and benefits	10,016	13,116
Accrued warranty	6,009	6,501
Operating lease liabilities	3,557	3,566
Accrued sales commissions	4,185	5,082
Accrued Freight	2,898	3,821
Accrued FICA	543	546
Finance lease liabilities	317	284
Other accrued expenses	4,476	5,444
Total Accrued Expenses	$ 36,576	$ 43,785

Note 7 - Goodwill and Other I_3

Note 7 - Goodwill and Other Intangible Assets (Details Textual)	9 Months Ended
	Mar. 31, 2024
Number of Reporting Units	3
Lighting Segment [Member]
Number of Reporting Units	1
Display Solutions Segment [Member]
Number of Reporting Units	2

Note 7 - Goodwill and Other I_4

Note 7 - Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Goodwill	$ 134,318	$ 134,318
Accumulated impairment losses	(89,288)	(89,288)
Goodwill, net	45,030	45,030
Lighting Segment [Member]
Goodwill	70,971	70,971
Accumulated impairment losses	(61,763)	(61,763)
Goodwill, net	9,208	9,208
Display Solutions Segment [Member]
Goodwill	63,347	63,347
Accumulated impairment losses	(27,525)	(27,525)
Goodwill, net	$ 35,822	$ 35,822

Note 7 - Goodwill and Other I_5

Note 7 - Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
finite lived, gross	$ 86,235	$ 86,235
finite lived, accumulated amortization	38,704	35,134
finite lived, net	47,531	51,101
indefinite lived	12,102	12,102
Total Other Intangible Assets	98,337	98,337
Other intangible assets, net	59,633	63,203
Trademarks and Trade Names [Member]
indefinite lived	12,102	12,102
Customer Relationships [Member]
finite lived, gross	62,083	62,083
finite lived, accumulated amortization	20,379	17,817
finite lived, net	41,704	44,266
Patents [Member]
finite lived, gross	268	268
finite lived, accumulated amortization	268	268
finite lived, net	0	0
LED Technology Firmware Software [Member]
finite lived, gross		20,966
finite lived, accumulated amortization		15,783
finite lived, net		5,183
Trade Names [Member]
finite lived, gross	2,658	2,658
finite lived, accumulated amortization	1,238	1,156
finite lived, net	1,420	1,502
Noncompete Agreements [Member]
finite lived, gross	260	260
finite lived, accumulated amortization	149	110
finite lived, net	111	$ 150
Technology-Based Intangible Assets [Member]
finite lived, gross	20,966
finite lived, accumulated amortization	16,670
finite lived, net	$ 4,296

Note 7 - Goodwill and Other I_6

Note 7 - Goodwill and Other Intangible Assets - Amortization Expense of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Amortization Expense of Other Intangible Assets	$ 1,190	$ 1,190	$ 3,570	$ 3,570

Note 7 - Goodwill and Other I_7

Note 7 - Goodwill and Other Intangible Assets - Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2024 USD ($)
2024	$ 4,760
2025	4,760
2026	4,760
2027	4,754
2028	4,708
After 2028	$ 27,359

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2021	Mar. 31, 2024
Line of Credit Facility, Maximum Borrowing Capacity	$ 100
Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.15%
Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
London Interbank Offered Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1%	1%
London Interbank Offered Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1%
London Interbank Offered Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0%
Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 75	$ 75
Debt Instrument, Interest Rate, Effective Percentage		6.60%
Line of Credit Facility, Remaining Borrowing Capacity		$ 75
Term Loan [Member]
Debt Instrument, Face Amount	25
Debt Instrument, Annual Principal Payment	$ 3.6
Debt Instrument, Term	5 years

Note 8 - Debt - Debt (Details)

Note 8 - Debt - Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Secured line of credit	$ 0	$ 18,729
Total debt	16,353	35,200
Less: amounts due within one year	3,571	3,571
Total amounts due after one year, net	12,782	31,629
Term Loan [Member]
Total debt	$ 16,353	$ 16,471

Note 8 - Debt - Debt (Details)

Note 8 - Debt - Debt (Details) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Term Loan [Member]
Debt Issuance Costs, Net	$ 20	$ 30

Note 9 - Cash Dividends (Detail

Note 9 - Cash Dividends (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2024	Mar. 31, 2024	Mar. 31, 2023
Payments of Dividends, Total		$ 4.3	$ 4.1
Annual Indicated per Share Dividend Rate		$ 0.2
Subsequent Event [Member]
Quarterly Indicated Per Share Dividend Rate	$ 0.05
Dividends Payable, Date to be Paid	May 14, 2024
Dividends Payable, Date of Record	May 06, 2024

Note 10 - Equity Compensation (

Note 10 - Equity Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Expense			$ 0.9	$ 0.9	$ 2.9	$ 2.3
LSi Employee Stock Purchase Plan (ESPP) [Member]
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares		270,000	245,000		245,000
Employee Stock Ownership Plan (ESOP), Discount Percentage		10%
Employee Stock Ownership Plan (ESOP), Shares Contributed to ESOP		11,000
Inducement Stock Option [Member]
Share-Based Payment Arrangement, Expense			$ 0.1		$ 0.1
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross			30,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price			$ 14.41
The 2019 Omnibus Award Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares)	2,350,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant			1,944,773		1,944,773
The 2019 Omnibus Award Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period					3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period					116,834
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 12.76
The 2019 Omnibus Award Plan [Member] | Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period					175,251
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 12.76

Note 11 - Supplemental Cash F_3

Note 11 - Supplemental Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest	$ 1,122	$ 2,325
Income taxes	6,317	7,808
Issuance of common shares as compensation	338	270
Issuance of common shares to fund deferred compensation plan	1,374	1,530
Issuance of common shares to fund ESPP plan	$ 145	$ 97

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Details Textual) $ in Thousands	Mar. 31, 2024 USD ($)
Standby Letters of Credit [Member]
Letters of Credit Outstanding, Amount	$ 0

Note 13 - Leases (Details Textu

Note 13 - Leases (Details Textual)	9 Months Ended
	Mar. 31, 2024
Minimum [Member]
Lessee, Leases, Remaining Term	1 year
Maximum [Member]
Lessee, Leases, Remaining Term	7 years

Note 13 - Leases - Operating Le

Note 13 - Leases - Operating Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Operating lease cost	$ 993	$ 884	$ 2,893	$ 2,661
Total operating right-of-use assets	9,063		9,063		$ 8,921
Buildings under finance leases	$ 2,033		2,033		$ 2,033
Fixed payments - operating cash flows			$ 2,806	2,754
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses		Accrued expenses		Accrued expenses
Liability reduction - operating cash flows			$ 2,421	2,451
Operating lease liabilities	$ 3,557		3,557		$ 3,566
Accumulated depreciation	(1,159)		(1,159)		(929)
Amortization of right of use assets	73	74	219	221
Interest - operating cash flows			41	51
Long-term operating lease liability	6,222		6,222		5,954
Total finance lease assets, net	915		915		1,138
Repayments of principal portion - financing cash flows			241	192
Total operating lease liabilities	9,779		9,779		9,520
Accrued expenses (Current liabilities)	317		317		$ 284
Interest on lease liabilities	$ 13	16	$ 41	51
Weighted Average remaining Lease Term (in years) (Year)	3 years 9 months 7 days		3 years 9 months 7 days		3 years 3 months 21 days
Long-term finance lease liability	$ 719		$ 719		$ 960
Weighted Average Discount Rate	5.35%		5.35%		5.44%
Total finance lease liabilities	$ 1,036		$ 1,036		$ 1,244
Variable lease cost	$ 22	22	$ 65	65
Weighted Average remaining Lease Term (in years) (Year)	3 years 29 days		3 years 29 days		3 years 9 months 29 days
Weighted Average Discount Rate	4.86%		4.86%		4.86%
Sublease income	$ (116)	(116)	$ (348)	(348)
Total lease cost	985	$ 880	2,870	$ 2,650
Buildings Under Finance Leases [Member]
Buildings under finance leases	2,033		2,033		$ 2,033
Equipment Under Finance Leases [Member]
Buildings under finance leases	$ 41		$ 41		$ 34

Note 13 - Leases - Maturities o

Note 13 - Leases - Maturities of Lease Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
2024, operating lease	$ 3,577
2024, finance lease	317
2024, operating sublease	(94)
2024, net lease commitments	3,800
2025, operating lease	2,675
2025, finance lease	362
2025, operating sublease	(31)
2025, net lease commitments	3,006
2026, operating lease	1,824
2026, finance lease	362
2026, operating sublease	0
2026, net lease commitments	2,186
2027, operating lease	1,360
2027, finance lease	114
2027, operating sublease	0
2027, net lease commitments	1,474
2028, operating lease	496
2028, finance lease	0
2028, operating subleases	0
2028, net lease commitments	496
Thereafter, operating lease	1,049
Thereafter, finance lease	0
Thereafter, operating subleases	0
Thereafter, net lease commitments	1,049
Total lease payments, operating lease	10,981
Total lease payments, finance lease	1,155
Total lease payments, operating sublease	125
Total lease payments, net lease commitments	12,011
Less: Interest, operating lease	(1,202)
Less: Interest, finance lease	(119)
Less: Interest, net lease commitments	(1,321)
Present Value of Lease Liabilities, operating lease	9,779	$ 9,520
Present Value of Lease Liabilities, finance lease	1,036	$ 1,244
Present Value of Lease Liabilities, net lease commitments	$ 10,690

Note 14 - Income Taxes - Reconc

Note 14 - Income Taxes - Reconciliation of Income Tax Rate (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Provision for income taxes at the anticipated annual tax rate	25.30%	30.50%	26%	25.90%
Uncertain tax positions	2.60%	1.20%	0.30%	0.30%
Other	0%	0.70%	0%	0.20%
Share-based compensation	0%	0.20%	(2.90%)	0.60%
Effective tax rate	27.90%	32.60%	23.40%	27%

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual) $ in Millions		12 Months Ended
	Apr. 18, 2024 USD ($)	Dec. 31, 2023 USD ($)
EMI Industries [Member]
Revenues		$ 87
Subsequent Event [Member] | EMI Industries [Member]
Business Combination, Consideration Transferred	$ 50
Number of Production Facilities	5