LSI Industries Inc. (NASDAQ:LYTS) Q4 2023 Earnings Call Transcript

But from a commercial standpoint, it tends to create stickiness and a kind of a closer proximity to the customer, you are in contact with them more often, you are seeing things that are happening within their business and you are able to act as a good partner and in many times, offer a solution or assistance. And so we are very focused on expanding our recurring revenue model. The digital menu boards are a good example of it. It’s a good start. And we continue to look for ways that we can make that happen. But no matter what happens there, it’s not going to be something that happens overnight, and it’s not going to be a triple-digit contributor to revenue or income quickly. We are going to have to – it’s going to be pick and shovel work, but we are in the process of doing it.

And we want to make sure that it all fits within our vertical market strategy.

Rick Fearon: That makes. Thanks for the additional color and thanks for all the great work. Good luck this quarter.

Jim Clark: Yes. Thank you.

Operator: There are no further questions in the queue. I would like to hand the call back to management for closing comments.

Jim Clark: Yes. I just want to say thank you again for all of those who take the time to get on the call or follow us after. Our story has consistently been about execution. And what I always refer to as a high say/do ratio. Our plan – our fast forward plan that extends out to 2028 is published on our website. It’s there and available for investors, but it’s also there and available for our suppliers, our employees, our partners and our customers. And I think it’s just a document that tells you – that shows you the roadmap and what we are planning to do. And it just remains consistent and connected with our philosophy around execution and a high say/do ratio. So, with that, I would just say thank you for the continued following of LSI investment and consideration, and we will look forward to talking to you on the next quarter. Take care.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time and have a wonderful day.