2 unchanged sentences
Non-residential lighting consists of high-performance, American-made lighting solutions.
−Removed: The Company’s strength in outdoor lighting applications creates opportunities for it to introduce additional solutions to its valued customers.
+Added: The Company’s strength in indoor and outdoor lighting applications creates opportunities for LSI to introduce additional solutions to its valued customers.
Retail display solutions consist of graphics solutions, digital signage, and technically advanced food display equipment for strategic vertical markets.
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the Lighting Segment, which represented 55% of our fiscal 2023 net sales and the Display Solutions Segment, which represented 45% of our fiscal 2023 net sales.
−Removed: See Note 3 of Notes to Consolidated Financial Statements beginning on page 48 of this Form 10-K for additional information on business segments.
+Added: See Note 2 of Notes to Consolidated Financial Statements beginning on page 44 of this Form 10-K for additional information on business segments.
Net sales by segment are as follows (in thousands):
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Lighting Segment
−Removed: Our Lighting Segment manufactures, markets, and sells outdoor and indoor lighting fixture and controls solutions in the commercial and industrial markets, including the following vertical markets:
+Added: Our Lighting Segment manufactures, markets, and sells outdoor and indoor lighting fixture and controls solutions in the following vertical markets:
refueling and convenience store, parking lot and garage, quick-service restaurant, retail, grocery and pharmacy, automotive dealership, sports court and field, and warehouse.
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Focusing on key vertical applications allows us to deliver unique product solutions, which in turn provide differentiated value to our customers.
−Removed: Our lighting fixtures, poles and brackets are produced in a variety of designs, styles, and finishes.
−Removed: Important functional variations include types of mounting, such as pole, bracket and surface, and the nature of the light requirement, such as but not limited to interior and exterior down-lighting, wall-wash lighting, canopy lighting, flood lighting, emergency exit lighting, area lighting and security lighting.
−Removed: We also offer a variety of lighting controls including sensors, photocontrols, dimmers, motion detection and Bluetooth systems to support our lighting fixtures.
−Removed: Our engineering professionals perform photometric analyses and wind load safety studies for our light fixtures.
−Removed: In addition, our light fixtures are certified to Universal Labs (UL), DesignLights Consortium (DLC), International Dark-Sky Association (IDA, for outdoor lighting) and Institute for Printed Circuits (IPC) standards, to name a few.
−Removed: Our lighting products utilize high efficient LED light sources.
−Removed: All of our products are designed for performance, reliability, ease of installation and service, as well as attractive appearance.
−Removed: In addition, we also focus on designing lighting system solutions and implementing strategies related to energy savings in all markets served.
+Added: Our lighting fixtures, poles and accessories are produced in a variety of design, aesthetics, and finishes. 
+Added: Application of our lighting fixtures vary to include surface, pole, and pendant mounted applications.  
+Added: Functional light distributions from our products varies depending upon application providing application specific photometric outputs including, but not limited to, interior and exterior downlighting, wall-wash lighting, canopy lighting, floodlighting, emergency exit lighting, industrial lighting, area and parking structure lighting and security lighting. 
+Added: To further energy efficiency gains from our luminaires, we offer a suite of lighting control options including sensors, photocontrols, dimming, motion detection and circuit controllers in both analog and wireless technologies to further support the application of our luminaires and provide means to additional energy savings  
+Added: We design and certify to all applicable safety, photometric and performance standards including UL Solutions, Design Lights Consortium, International Dark-Sky Association, Norma Official Mexicana (NOM), and Institute for Printed Circuits (IPC). 
+Added: Utilizing LED light sources, our products are designed for energy efficiency, reliability, performance, ease of installation and service while providing a high degree of overall aesthetic appeal. 
+Added: We focus on providing performance based, energy efficient lighting solutions implemented across all key vertical markets served. 
Display Solutions Segment
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Sales, Customers and Marketing
−Removed: The products and services we offer are sold primarily throughout the United States, but also in Canada, Mexico, Australia, and Latin America (approximately 5% of consolidated net sales are outside the United States).
+Added: The products and services we offer are sold primarily throughout the United States, but also in Canada, Mexico, and Latin America (approximately 4% of consolidated net sales are outside the United States).
Our lighting product sales originate from two primary revenue streams.
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The second revenue stream is from selling standard products to stocking distributors, who subsequently provide products to electrical contractors and end users for a variety of lighting applications.
+Added: Our lighting products are primarily sold through manufacturer’s sales representatives and to a lesser degree directly through our own sales force.
Our display solution elements and related services, which in many instances are program-driven, are sold primarily through our own sales force.
+Added: This revenue stream is from more significant program initiatives that often represent multiple sites over a period of time. These customers are usually established and have a long-term relationship with LSI. These products and services are sold directly to the customer or a brand marketer acting as an intermediary.
Sales are developed through a wide variety of contacts such as, but not limited to, national retail marketers, branded product companies, and franchised and dealer operations.
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Our sales are partially seasonal as installation of our non-residential outdoor lighting and visual display solutions in the northern states decreases during the winter months.
−Removed: The Company markets its products and service capabilities to end users in multiple channels through a broad spectrum of marketing and promotional methods, including direct customer contact, trade shows, on-site and virtual training, print advertising in industry publications, product brochures and other literature, e Learning, the company website, as well social media.
−Removed: We have made investments in our marketing support team to continue to build awareness of LSI’s product and service capabilities.
+Added: The Company markets its products and service capabilities to end users in multiple channels through a broad spectrum of marketing and promotional methods, including direct customer contact, trade shows, on-site and virtual training, print advertising in industry publications, product brochures and other literature, e learning, the company’s website, as well social media.
Our marketing approach and means of distribution vary by product line and by market.
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states and one province in Ontario, Canada.
−Removed: The Company added four manufacturing facilities resulting from the acquisition of JSI Store Fixtures (May 2021), which included manufacturing facilities located in Maine, Utah, and Canada.
We design, engineer and manufacture most of our lighting and visual display products through the utilization of lean manufacturing principles.
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Although an interruption of these supplies and components could disrupt our operations, we believe generally that alternative sources of supply exist and could be readily arranged.
−Removed: As a result of challenges encountered in the supply chain, we have increased our safety stock in certain components in order to mitigate potential disruption to our operations resulting from an anticipated shortage of certain components. We are not dependent on any one supplier for critical component parts.
+Added: When faced with supply chain challenges, we increase our safety stock in certain components in order to mitigate potential disruption to our operations resulting from an anticipated shortage of certain components. We are not dependent on any one supplier for critical component parts.
We strive to reduce price volatility in our purchases of raw materials and components through annual contracts with strategic suppliers.
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in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations."
−Removed: Backlog Orders
−Removed: We had a backlog of orders, which we believe to be firm, of $112.4 million and $89.7 million at June 30, 2022, and 2021, respectively.
−Removed: All orders are expected to be shipped or installed within twelve months.
Environmental Regulations
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The Company offers a nonqualified deferred compensation plan, an equity-based incentive plan and an incentive plan that is based upon the achievement of the Company’s business plan goals, for certain employees.
−Removed: Information Concerning LSI Industries Inc.
+Added: Information Concerning the Company
We file reports with the Securities and Exchange Commission (“SEC”) on Forms 10-K, 10-Q and 8-K.
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.