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    Richard Fearon

    Research Analyst at Accretive Capital Partners

    Richard E. Fearon, Jr. is the Managing Partner and Founder of Accretive Capital Partners, specializing in identifying and investing in undervalued small and micro-cap public companies that present potential take-private opportunities. Under his leadership since 2000, Accretive Capital Partners has earned national recognition and accolades from sources such as Morningstar, Barron’s, Bloomberg, and HFM Week Magazine for outstanding long-term performance among U.S. hedge funds under $250 million. Prior to launching Accretive, Fearon served as Principal at Allied Capital Corporation, Managed Partner of Allied Capital Midwest, and held investment banking positions at Morgan Stanley and PaineWebber. He holds an MBA in Finance from the Wharton School of Business and a BA from Williams College, as well as academic experience from the Stockholm School of Economics.

    Richard Fearon's questions to LSI INDUSTRIES (LYTS) leadership

    Richard Fearon's questions to LSI INDUSTRIES (LYTS) leadership • Q1 2025

    Question

    Richard Fearon of Accretive Capital Partners requested more detail on the composition of the 90% increase in grocery orders, specifically the mix between refrigerated and non-refrigerated displays, and inquired about organic growth initiatives accelerated by the strong cash flow.

    Answer

    President and CEO James Clark clarified that non-refrigerated displays were a significant part of the Q1 uptick but expects refrigerated sales to increase, with better visibility after the holiday 'quiet period.' Regarding organic growth, Clark explained they are leveraging internal capabilities, like using JSI's engineering expertise to enhance EMI's products, and strategically shifting focus between vertical markets like parking, which is now showing increased activity.

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