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EXHIBIT 11
LSI INDUSTRIES INC.
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
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(IN THOUSANDS, EXCEPT PER SHARE)
Three Months Ended Nine Months Ended
March 31 March 31
----------------------- ---------------------
1995 1994 1995 1994
---- ---- ---- ----
NET INCOME
- ----------
Continuing operations $ 948 $ 749 $5,835 $4,757
Discontinued operations -- -- (1,500) --
------- ------ ------ ------
Net income $ 948 $ 749 $4,335 $4,757
======= ====== ====== ======
AVERAGE SHARES OUTSTANDING
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Weighted average shares
outstanding during the period 8,243 7,618 7,814 7,594
Common Share Equivalents:
Common Shares to be issued
under Stock Option Plan 357 181 374 179
-------- -------- -------- --------
Average Shares Outstanding 8,600 7,799 8,188 7,773
======= ======= ======= =======
NET INCOME PER SHARE
Continuing operations $ .11 $ .10 $ .71 $ .61
Discontinued operations -- -- (.18) --
--------- ----------- -------- ----------
Net income per share $ .11 $ .10 $ .53 $ .61
======= ========= ======= ========
<FN>
Note: Calculated using the "Treasury Stock" method as if options were exercised
and the funds were used to purchase Common Shares at the average market
price during the period.
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