Lighting distributor Acuity Brands, Inc. (NYSE: AYI), Atlanta, GA, reported sales for the fourth quarter ended August 31, 2012, of $514.3 million, an increase of 3.6 percent year-over-year.
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Sales of LED-based products grew by more than two-and-a-half times over the prior-year period and represented 12 percent of quarterly sales. Profit fell 2.6 percent to $33.3 million.
For the full year, sales were $1.9 billion, an 8 percent improvement over the prior year. Profit increased 10 percent to $116.3 million.
“Third-party forecasts for the U.S. non-residential construction market, a key market for the company, remain favorable though estimates for growth vary significantly,” said Vernon Nagel, chairman, president and CEO. “The current consensus estimate is that non-residential construction will grow modestly through our fiscal 2013 while the growth rate for the North American lighting market will be higher, suggesting growth in the mid-single digit range for fiscal 2013.”