6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.
Unit volume contributed 5 percent to the year-over-year second quarter growth, with price/mix adding 3 percent and acquisitions adding 2 percent. The increase in unit volume was broad-based across most product categories and key sales channels in North America, partially offset by a decline in Spain.
Net sales for the first six months of fiscal 2012 were $932 million, a year-over-year increase of 11 percent. Profit increased 12 percent to $49.5 million.
"Our performance expectations for fiscal 2012 have not changed materially during the past quarter. Third-party forecasts suggest that the North American lighting market, which includes renovation and relight activity, will increase in the low-to-mid single digits during the remainder of our fiscal 2012," said Vernon J. Nagel, president and CEO. "We believe opportunities continue to exist that will allow us to continue to outperform the markets we serve. … This notwithstanding, we continue to anticipate on-going volatility in both customer demand and commodity costs."