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    Aaron Spachella

    Senior Research Analyst at Craig Hallum Capital Group

    Aaron Spychalla, CFA, is a Senior Research Analyst at Craig-Hallum Capital Group specializing in coverage of the industrials and clean technologies sectors, where he has played a key role in building out the research practice for nearly 15 years. He actively covers publicly traded companies such as Quest Resource Holding Corp and Orion Group Holdings, regularly issuing investment recommendations and price targets with a track record of actionable calls, including maintaining Buy ratings and monitoring insider activity. Spychalla began his role at Craig-Hallum in April 2011 and has over a decade of experience as a sell-side equity analyst, holding the Chartered Financial Analyst (CFA) designation and other securities industry credentials acquired during his career. His research is informed by strong sector expertise and he is recognized for providing detailed financial assessments for both institutional and retail investors.

    Aaron Spachella's questions to LSI INDUSTRIES (LYTS) leadership

    Aaron Spachella's questions to LSI INDUSTRIES (LYTS) leadership • Q4 2025

    Question

    Aaron Spachella inquired about the scale and growth outlook for the C-store and refueling vertical, the recovery status of the grocery segment, and the progress of cross-selling initiatives and margin expansion at the acquired EMI business.

    Answer

    President and CEO Jim Clark explained that the major C-store project involves thousands of locations and is about halfway complete, with continued activity expected well into fiscal 2026. He characterized the grocery market as stable but not yet fully recovered, with potential upside remaining. Regarding EMI, Clark noted that its margins have improved by over 200 basis points since the acquisition, with a clear plan for further expansion, and highlighted that cross-selling efforts are gaining significant traction.

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