LSI Industries Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, the company reported net sales were $92,305,000 compared to $85,658,000 a year ago. Operating income was $4,547,000 compared to operating income of $2,818,000 a year ago. Income before income taxes was $4,130,000 compared to income before income taxes $2,838,000 a year ago. Net loss was $1,468,000 compared to net income of $2,006,000 a year ago. Basic and diluted loss per common share was $0.06 compared to basic and diluted income per common share of $0.08 a year ago. Adjusted net income was $3,267,000 compared to $2,477,000 a year ago. Adjusted EPS of $0.12 compared to $0.10 a year ago. Operating income as adjusted was $4,630,000 compared to $3,543,000 a year ago. Capital expenditures were $700,000 in the second quarter.

For the six months, the company reported net sales were $179,771,000 compared to $169,817,000 a year ago. Operating loss was $20,267,000 compared to operating income of $3,884,000 a year ago. Loss before income taxes was $21,087,000 compared to income before income taxes $3,918,000 a year ago. Net loss was $17,097,000 compared to net income of $2,835,000 a year ago. Basic and diluted loss per common share was $0.66 compared to basic and diluted income per common share of $0.11 a year ago. Adjusted net income was $5,001,000 compared to $4,098,000 a year ago. Adjusted EPS of $0.19 compared to $0.16 a year ago. Operating income as adjusted was $7,816,000 compared to $5,810,000 a year ago.

For full year fiscal 2018, the company forecast that the company's blended consolidated effective income tax rate will be approximately 29% before discrete items, as compared to approximately 34% for fiscal 2017. The full year impact of Tax Cut and Jobs Act will be realized in 2019 and effective tax rate is currently estimated at 24%.