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.

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.