The 2020 Mid-Year Economic Update_long

Acuity Brands Sales Down 2% in Fiscal 2010

Fourth quarter sales for the lighting distributor increased 5 percent.

Acuity Brands, Inc. (NYSE: AYI), Atlanta, GA, reported sales for the fiscal year ended Aug. 31, 2010, were $1.63 billion, down 2 percent from fiscal 2009. Profit declined 6.2 percent to $79.6 million.

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Fourth-quarter sales for the distributor of lighting fixtures and related products were $444.1 million, an increase of 5 percent over the same period a year ago. Profit decreased 6.5 percent to $27.2 million.

\”We achieved unit volume growth while non-residential construction continued to decline. I believe this is strong evidence that the execution of our strategies to extend our leadership position in North America is succeeding,\” said Vernon Nagel, president and CEO. \”These strategies include continued introduction of new, more energy-efficient lighting products and solutions, expansion in key geographies and important channels, and further gains in productivity.\”

The year-over-year growth in fiscal fourth quarter net sales was due primarily to a 6 percent increase in unit volume, partially offset by unfavorable changes in both selling prices in certain channels and geographies and the mix of products sold.

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