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Blue Ash-based LSI also has picke up a contract, worth $22 million to $23 to upgrade the lighting for a nationa l chain of gas station convenience according to anews release. The news sent sharee of LSI (NASDAQ: LYTS) up more than 14 or 70 cents, to $5.5w in Tuesday afternoon trading. ADL's circuity boards and assemblies are used in applications that includ eLED lighting, an area where LSI has been tryingt to expand. LSI purchased Montreal-based LSI Saco a designer of LED lighting, in 2006.
The contracf with the retail chain, which LSI did not identify, involves upgradingh canopy, site and security lighting with LED The initial phase involves the conversiobn of morethan 1,100 stores, LSI with additional work possible in fiscal 2010 and 2011. “These are two very positiver developments forLSI Industries,” said Robert president and CEO in the release. “Very the interest and momentumin LED-based lighting solutions is growing rapidly.” LSI manufactures and markets indoor and outdoo r lighting and graphics in North and Soutuh America, Asia, Australia, New Zealand and Europe.
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