Acuity Brands Sales Up 6.3% in Second Quarter - Modern Distribution Management

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Acuity Brands Sales Up 6.3% in Second Quarter

Profit increased 26.7 percent.

Lighting distributor Acuity Brands Inc. (NYSE: AYI), Atlanta, GA, reported sales for the second quarter ended Feb 28, 2013, of $486.7 million, a 6.3 percent increase compared to the same period a year earlier. Profit increased 26.7 percent to $24.7 million.

For the first six months, sales were $967.8 million, an increase of 3.8 percent compared to the prior-year period. Profit increased 2.6 percent to $50.8 million.

“Third-party forecasts and leading indicators suggest that the North American lighting market, which includes renovation and relight activity, will increase in the mid-single digits during the remainder of our fiscal 2013. While we expect to see some volatility in demand among certain sales channels and geographies, our expectation for the second half of fiscal 2013 is that overall demand in our end markets will continue to improve and be more consistent and broad-based,” Vernon J. Nagel, chairman, president and CEO, said.

“The favorable trend in our March order rates reflects this improvement. We believe opportunities continue to exist that will allow us to continue to outperform the markets we serve. These opportunities include benefits from growing renovation and tenant improvement projects, further expansion in underpenetrated geographies and channels, and growth from the introduction of new products and lighting solutions,” Nagel said.

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