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April 2, 2014
09:21 EDTAYIAcuity Brands reports Q2 EPS ex-items 75c, consensus 83c
Reports Q2 revenue $546.2M, consensus $553.95M. The 12% year-over-year growth Q2 net sales was due primarily to a 13% increase in sales volume, which was partially offset by a net unfavorable change in foreign currency rates, primarily because of a weaker Canadian Dollar. The impact from changes in the price and mix of products sold and recent acquisitions was benign. The increase in sales volume was broad-based across most product categories and key sales channels in North America. Q2 gross profit margin was 39.4% compared with prior year's adjusted gross profit margin of 39.6%, which excludes the impact of temporary manufacturing inefficiencies directly attributable to the closing of a production facility in FY13. Q2 gross profit margin was negatively impacted by approximately 100 basis points due to a combination of higher warranty-related costs associated with a specific non-LED product, the impact of a net unfavorable change in foreign currency rates, and to a lesser degree, higher freight costs for expediting various components due primarily to service greater than expected customer demand for certain products. The total impact of these items reduced diluted EPS by approximately 9c. Management believes inclement winter weather reduced net sales by as much as 3% which also impacted margins and profitability.
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October 1, 2014
09:07 EDTAYIAcuity Brands 'very bullish' about prospects for future profitable growth
Acuity Brands CEO Acuity Brands stated, "We remain very bullish about our prospects for future profitable growth. Third-party forecasts as well as key leading indicators suggest that the growth rate for the North American lighting market, which includes renovation and retrofit activity, will be in the mid-to-upper single digit range for FY15 with expectations that overall demand in our end markets will continue to experience solid growth over the next several years. Our order rates through the month of September reflect this favorable trend. Further, we expect to continue to outperform the growth rates of the markets we serve due to 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. In FY15, we intend to invest in capital expenditures totaling approximately two percent of net sales, and we estimate our annual tax rate to be approximately 35.5% before any discrete items, assuming the tax rates in our taxing jurisdictions remain generally consistent throughout year." Nagel concluded, "We believe the lighting and lighting-related industry will experience solid growth over the next decade, particularly as energy and environmental concerns come to the forefront along with emerging opportunities for digital lighting to play a key role in the Internet of Things. We believe we are well positioned to fully participate in this exciting industry."
09:05 EDTAYIAcuity Brands reports Q4 EPS $1.26, consensus $1.22
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September 30, 2014
15:05 EDTAYINotable companies reporting before tomorrow's open
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14:26 EDTAYIAcuity Brands technical comments ahead of earnings
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September 29, 2014
09:51 EDTAYIAcuity Brands management to meet with Oppenheimer
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September 22, 2014
07:04 EDTAYIAcuity Brands volume growth accerated in Q4, says RW Baird
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