Lighting distributor Acuity Brands, Inc. (NYSE: AYI), Atlanta, GA, reported sales for the fourth quarter ended Aug. 31, 2011, were $496.2 million, up 12 percent compared with the year-ago period. Profit increased 26 percent to $34.2 million.
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The year-over-year growth in fourth quarter sales was due to a 5 percent increase in unit volume, 4 percent from acquisitions, and 2 percent from pricing, partially offset by a less favorable mix of products sold, and 1 percent from favorable foreign currency translation on international sales.
Fiscal 2011 sales were $1.8 billion, an increase of 12 percent over fiscal 2010. Profit increased 33 percent to $105.5 million.
\”We remain very positive about the future prospects for our company and our ability to outperform the markets we serve, particularly as we become more diversified and less reliant on new building construction for growth,\” said Vernon J. Nagel, president and CEO. \”We have experienced growth for six consecutive quarters in spite of weak new construction, supporting our diversification strategy.\”