New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
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.
News For AYI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 20, 2015
16:09 EDTAYICree says LED lighting market still in early stages
Cree (CREE) CEO Chuck Swoboda said in the company's earnings release, "We made solid progress in Q2 with operating margin higher than targeted due to an improvement in gross margins in our lighting business. The market for LED lighting is still in the early stages, our new product pipeline is strong, sales momentum is building and our brand is growing in the market. As evidenced by our significant share repurchases in Q2, we believe we are on the right track to continue to grow the company and increase profits over the next several years." Cree peers include SemiLEDs (LEDS) and Acuity Brands (AYI). Cree shares are up 6% in after-hours trading to $34.40 after reporting better than expected Q2 results.
January 12, 2015
08:17 EDTAYIAcuity Brands price target raised to $171 from $155 at Cowen
Cowen raised its price target on Acuity Brands to $171 from $155 following its record quarterly results. The firm sees continued margin expansion and higher attach rates. Cowen reiterated its Outperform rating on Acuity Brands shares.
07:53 EDTAYIAcuity Brands price target raised to $187 from $166 at Canaccord
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use