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Acuity Brands Inc. Reports Operating Results (10-Q)

July 02, 2012 | About:
10qk

10qk

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Acuity Brands Inc. (AYI) filed Quarterly Report for the period ended 2012-05-31.

Acuity Brands, Inc. has a market cap of $2.16 billion; its shares were traded at around $50.9 with a P/E ratio of 18.72 and P/S ratio of 1.2. The dividend yield of Acuity Brands, Inc. stocks is 1.02%. Acuity Brands, Inc. had an annual average earning growth of 5.8% over the past 10 years.

Highlight of Business Operations:

Net sales were $487.5 for the three months ended May 31, 2012, compared with $458.3 reported for the three months ended May 31, 2011, an increase of $29.2, or 6.4%. For the three months ended May 31, 2012, the Company reported net income of $33.6, an increase of $6.5, or 24.0%, compared with $27.1 for the three months ended May 31, 2011. For the third quarter of fiscal 2012, diluted earnings per share increased to $0.79 compared with $0.62 reported in the year-ago period.

Adjusted net income (excluding the impact of the special charge) for the third quarter of fiscal 2012 was $34.8 compared with $27.1 of net income (with no corresponding special charge) in the prior-year period, which represented an increase of $7.7, or approximately 28%. Adjusted diluted earnings per share (excluding the impact of the special charge) for the three months ended May 31, 2012 increased $0.20, or slightly more than 32%, to $0.82 compared with diluted earnings per share (with no corresponding special charge) of $0.62 for the prior-year period.

For the nine months ended May 31, 2012, net sales increased $120.0, or 9.2%, to $1,419.5 compared with $1,299.5 reported for the prior-year period. For the nine months ended May 31, 2012, net income increased $11.8, or 16.5%, to $83.1 compared with $71.3 for the prior-year period. For the first nine months of fiscal 2012, diluted earnings per share increased 19.6% to $1.95 from $1.63 for the prior-year period.

For the first nine months of fiscal 2012, operating profit was $146.9 compared with $132.9 for the prior-year period, an increase of $14.0, or 10.5%. The period-over-period increase was due primarily to higher net sales and benefits of productivity improvements, including $2.0 of benefits from streamlining efforts taken primarily in the first quarter of fiscal 2012, partially offset by increases in material and component costs, the special charge, SD&A expenses as discussed above, and unfavorable results in Spain due to difficult economic conditions. Operating profit margin increased by 10 basis points to 10.3% for the first nine months of fiscal 2012 compared with 10.2% in the prior-year period.

For the first nine months of fiscal 2012, adjusted net income (excluding the impact of the special charge) was $90.6 compared with $71.3 of net income (with no corresponding special charge) in the year-ago period, an increase of $19.3, or approximately 27%. For the nine months ended May 31, 2012, adjusted diluted earnings per share (excluding the impact of the special charge) was $2.13 compared with diluted earnings per share (with no corresponding special charge) of $1.63 for the prior-year period, an increase of $0.50, or approximately 31%.

Read the The complete Report

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