SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
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LSI Industries, Inc.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
50216C108
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(CUSIP Number)
December 31, 2002
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 5 Pages
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CUSIP No. 50216C108 13G Page 2 of 5 Pages
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(1) Names of Reporting Persons. I.R.S. Identification Nos. of Above
Persons (entities only)
SKYLINE ASSET MANAGEMENT, L.P.
36-4023693
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(2) Check the Appropriate Box if a Member (a) / /
of a Group (See Instructions) (b) / /
NOT APPLICABLE
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
DELAWARE LIMITED PARTNERSHIP
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Number of Shares (5) Sole Voting Power
Beneficially NONE
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With NONE
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(7) Sole Dispositive Power
NONE
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(8) Shared Dispositive Power
NONE
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
NONE
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
NOT APPLICABLE
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(11) Percent of Class Represented by Amount in Row (9)
0%
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(12) Type of Reporting Person (See Instructions)
IA - INVESTMENT ADVISER
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Page 3 of 5 Pages
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ITEM 1(A). NAME OF ISSUER
LSI Industries, Inc.
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ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
10000 Alliance Road
Cincinnati, Ohio 45242
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ITEM 2(A). NAME OF PERSON(S) FILING
THE SHARES REPORTED HEREIN ARE HELD BY SKYLINE ASSET MANAGEMENT,
L.P. ("SKYLINE") AS INVESTMENT ADVISER TO CERTAIN CLIENT
ACCOUNTS ("ACCOUNTS") OVER WHICH SKYLINE EXERCISES DISCRETION.
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ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
311 SOUTH WACKER DRIVE, SUITE 4500
CHICAGO, IL 60606
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ITEM 2(C). CITIZENSHIP
SKYLINE ASSET MANAGEMENT, L.P. IS A DELAWARE LIMITED PARTNERSHIP.
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ITEM 2(D). TITLE OF CLASS OF SECURITIES
COMMON STOCK
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ITEM 2(E). CUSIP NUMBER
50216C108
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Page 4 of 5 Pages
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b), OR
240.13d-2(b) or (c), CHECK WHETHER THE PERSON FILING IS A
(a) / / Broker or dealer registered under Section 15 of the Act (15
U.S.C. 78o).
(b) / / Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) / / Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) / / Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) /X/ An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) / / An employee benefit plan, or endowment fund; in accordance with
Section 240.13d-1(b)(1)(ii)(F)
(g) / / A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G)
(h) / / A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) / / A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) / / Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)
ITEM 4. OWNERSHIP
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount Beneficially Owned:
NONE
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(b) Percent of Class:
0%
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(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
NONE
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(ii) shared power to vote or to direct the vote
NONE
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(iii) sole power to dispose or to direct the disposition of
NONE
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(iv) shared power to dispose or to direct the disposition of
NONE
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ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following. /X/
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not Applicable
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Page 5 of 5 Pages
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ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
NOT APPLICABLE
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ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
NOT APPLICABLE
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ITEM 9. NOTICE OF DISSOLUTION OF GROUP
NOT APPLICABLE
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose of
or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
2/14/03
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(Date)
/s/ Stephen F. Kendall
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(Signature)
Stephen F. Kendall, Chief Operating Officer
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(Name/Title)