Last Fiscal Year - LFY means a 12-month period over which a company determines its financial performance. A fiscal year does not necessarily begin in January and end in December, it may run over any period of 12 months. Using other 12-month accounting period than the calendar year provides companies the advantage to close their books at a time which is most convenient for them.
Additional meaning of Last Fiscal Year - LFY:
The fiscal year is referred to by the date in which it ends, a fiscal year ending October 31, 2010 is called FY 2010.