Manufacturers

Acuity Brands reports 4% sales increase for 4Q

Acuity Brands, Inc. today announced fiscal 2012 fourth quarter net sales of $514.3 million, an increase of $18.1 million, or approximately 4%, compared with the year-ago period. Fiscal 2012 fourth quarter net income was $33.3 million compared with $34.2 million for the prior-year period.

For the full year of fiscal 2012, the company reported net sales of $1,933.7 million, an annual increase of approximately 8%.

Vernon J. Nagel, chairman, president and CEO of Acuity Brands, commented, “We were very pleased with our fiscal 2012 fourth quarter and full year results as we continued to execute our strategies to extend our leadership position in North America. Our profitability and cash flow for the quarter and full year were once again strong while we continued to fund areas with significant future growth potential, including the expansion of our industry-leading portfolio of lighting solutions.”

More than two-thirds of the approximate 4% year-over-year increase in fourth quarter net sales was due to higher volume with the balance due primarily to the net favorable change in product prices and the mix of products sold. The increase in volume was fairly broad-based across most product categories. The impact on net sales from acquisitions and foreign currency was not significant. Sales of LED-based products grew by more than two-and-a-half times over the prior-year period and represented approximately 12% of fiscal 2012 fourth quarter net sales.

Fiscal 2012 net sales were $1,933.7 million compared with $1,795.7 million for the prior-year period, an increase of approximately 8%. Operating profit for fiscal 2012 was $208.0 million compared with $188.7 million for the year-ago period. Net income for fiscal 2012 was $116.3 million compared with $105.5 million for fiscal 2011.

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