Monday, July 2, 2012

Acuity Brands’ (NYSE: AYI) Q3 profit up 24%

Acuity Brands’ (NYSE: AYI) Q3 profit up 24%Northern, WI 7/2/12 (streetBeat) -- Acuity Brands Inc. (NYSE: AYI)

The Atlanta-based lighting products company boosted its third-quarter bottom line on higher sales and overcame a $1.9 million charged related to the closure of its Cochran, Ga., facility.

• Net Sales: $487.5 million, up 6.4 percent
• Net Income: $33.6 million, up 24 percent
• Earnings Per Share: 79 cents, up 27.4 percent

Acuity Chairman, President and CEO Vernon J. Nagel:

“We are pleased with our fiscal 2012 third quarter results as we continue to execute our strategies to extend our leadership position in North America, including our record pace for the introduction of more energy-efficient lighting solutions... Our third quarter results also reflected a continuation of an elevated level of spending on future growth initiatives, including new products, expanded market presence, and technology and innovation.”

Acuity owns Acuity Brands Lighting, whose brands include Lithonia Lighting, Holophane, Peerless, Mark Architectural Lighting, Hydrel, American Electric Lighting, Gotham, Carandini, SpecLight, MetalOptics, Antique Street Lamps, RELOC, Lighting Control and Design, SAERIS, ROAM, Synergy Lighting Controls and Winona Lighting Inc.

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