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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G
(Rule 13d-102)

Under the Securities Exchange Act of 1934
(Amendment No. 17)*

LSI Industries Inc.
(Name of Issuer)

Common Stock
(Title of Class of Securities)

502 16C 10 8
(CUSIP Number)

December 31, 2002
(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[_] Rule 13d-1(b)

[_] Rule 13d-1(c)

[X] 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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Page 1 of 4 pages

CUSIP No. 502 16C 10 8 13D Page 2 of 4 Pages

1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only).

Robert J. Ready
                    

2. Check the Appropriate Box If a Member of Group (See Instructions) (a) [_]
(b) [X]

3. SEC Use Only

4. Citizenship or Place of Organization

United States of America                    

Number Of Shares Beneficially Owned By Each Reporting Person With	5.	Sole Voting Power 850,471
	6.	Shared Voting Power 0
	7.	Sole Dispositive Power 850,471
	8.	Shared Dispositive Power 0

9. Aggregate Amount Beneficially Owned by Each Reporting Person

850,471                    

10. Check Box If the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) |_|

11. Percent of Class Represented by Amount in Row (11)

5.36%                    

12. Type of Reporting Person (See Instructions)

IN                     

Page 3 of 4 pages

Item 1(a)          Name of Issuer:    LSI Industries Inc.

Item 1(b)          Address of Issuer's Principal Executive Office:

                          10000 Alliance Road
                          Cincinnati, Ohio 45242

Item 2(a)          Name of Person Filing:    Robert J. Ready

Item 2(b)          Address of Principal Business Office:

                          10000 Alliance Road
                          Cincinnati, Ohio 45242

Item 2(c)          Citizenship:     U.S.A.

Item 2(d)          Title of Class of Securities:    Common Stock, No Par Value

Item 2(e)          CUSIP Number:     502 16C 10 8

Item 3              If this Statement is Filed Pursuant to Rule 13d-1(b), or
                        13d-2(b), check whether the Person Filing is a:    N/A

Item 4             Ownership:

(a)
(b)
(c)    See Item 9 of cover page.
   See Item 11 of cover page.
   See Items 5-8 of cover page.

        The shares in Items 5, 7 and 9 include options for 19,200 shares exercisable within 60 days and 195,732 shares held by Mr. Ready as Trustee of a Voting Trust Agreement for the benefit of his children pursuant to which Mr. Ready has the sole power to vote and direct the disposition of such shares. Mr. Ready disclaims beneficial ownership of these 195,732 shares.

Item 5             Ownership of 5% or Less of Class:     N/A

Item 6             Ownership of More Than 5% on Behalf of Another Person:    N/A

Page 4 of 4 pages

Item 7              Identification and Classification of the Subsidiary which Acquired the Security being
                         Reported on by the Parent Holding Company:     N/A

Item 8              Identification and Classification of Members of the Group:     N/A

Item 9              Notice of Dissolution of Group:    N/A

Item 10              Certification:    N/A

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.

February 10, 2003                              
Date



/s/ Robert J. Ready                            
Signature


Robert J. Ready, President and CEO
Name/Title