LSI Industries Inc. (NASDAQ:LYTS) Q4 2022 Earnings Conference Call August 18, 2022 11:00 AM ET
Company Participants
James Galeese - EVP and CFO
James Clark - President and CEO
Conference Call Participants
Amit Dayal - H.C. Wainwright & Co, LLC
George Gianarikas - Canaccord Genuity
Richard Fearon - Accretive Capital Partners
Operator
Greetings and welcome to LSI Industries' Fiscal Fourth Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Jim Galeese, Chief Financial Officer. Thank you. You may begin.
James Galeese
Good morning, everyone, and thank you for joining. We issued a press release before the market opened this morning, detailing our fiscal 2022 fourth quarter and full year results. In conjunction with this release, we also posted a conference call presentation in the Investor Relations portion of our corporate website at www.lsicorp.com.
Information contained in this presentation will be referenced throughout today's conference call included are certain non-GAAP measures for improved transparency of our operating results. A complete reconciliation of GAAP and non-GAAP results is contained in our press release and 10-K.
Please note that management's commentary and responses to questions on today's conference call may include forward-looking statements about our business outlook. Such statements involve risks and opportunities and actual results could differ materially. I refer you to our Safe Harbor statement, which appears in this morning's press release, as well as our most recent 10-K and 10-Q.
Today's call will begin with remarks summarizing our fiscal fourth quarter and full year results. At the conclusion of these prepared remarks, we will open the line for questions.
With that, I'll turn the call over to LSI President and Chief Executive Officer, Jim Clark.
James Clark
Thank you, Jim, and good morning all. Thank you for joining us today. As you know, we're here discussing our fourth quarter and full year results. The short version of the story is we had a great year. Before we go into the specifics, let me take you back a short three years ago to 2019.
As a management team, we sat down with a commitment to our shareholders in the market that we will be a $500 million company with double-digit EBITDA in 2025. Sales at that time were teetering around $300 million, EBITDA was approximately 3%, and our company's momentum was a bit flat.