Acuity Brands Sales Up 12% in First Quarter - Modern Distribution Management

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Acuity Brands Sales Up 12% in First Quarter

Profit for the lighting distributor increased 23 percent.
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Acuity Brands, Inc. (NYSE: AYI), Atlanta, GA, reported sales for the first quarter ended Nov. 30, 2011, were $474.3 million, up 12 percent compared with the year-ago period. Profit increased 23 percent to $24.4 million.

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The year-over-year growth in fiscal 2012 first quarter net sales was due to a 7 percent increase in unit volume, 3 percent from acquisitions, and 2 percent from the net impact of improved pricing that was partially offset by an unfavorable mix of products sold.

\”We continue to execute our strategies, including the introduction of new and more energy-efficient lighting solutions, to extend our leadership position in North America,\” said Vernon J. Nagel, president and CEO. \”Contributing to our year-over-year top-line growth was a 150 percent increase in sales of LED products, which now represent more than 5 percent of total net sales.\”

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