Acuity Brands Inc. (NYSE: AYI), Atlanta, GA, reported sales for the year ended August 31 of $2.1 billion, an increase of 8 percent compared to the same period a year ago. Profit increased 9.5 percent to $127.4 million.
For the fourth quarter, sales were $579.8 million, an increase of 13 percent compared to the same period a year ago. The company experienced sales growth across most product categories and in key sales channels, reflecting market share gains and growth in both the non-residential and residential markets, particularly for renovation and retrofit applications. Additionally, robust demand for the company’s LED luminaires continued as sales of these products more than doubled compared with the year-ago period. Profit for the quarter increased 34.8 percent to $44.9 million.
“We believe the lighting and lighting-related industry will experience solid growth over the next decade, particularly as energy and environmental concerns come to the forefront," Vernon J. Nagel, president and CEO, said.