Originally published at www.seclive.com
Acuity Brands, Inc. (NYSE:AYI) announced its fourth quarter financial results for the fiscal year 2013, with earnings results better than expected. The light fixture maker reported sales increased 13% to $579.8M while its gross margin remained unchanged at 40.9%. Acuity earned a profit of $44.9M, or $1.03 per share, a substantial 33% increase from last year this quarter of $33.3M and $0.78 earnings per share. These results beat analyst expectations all-around, which were expecting earnings per share of $1.01 with $569M in revenues. CEO Vernon Nagel commented that the company is expecting continued growth as the U.S. housing market slowly recovers but it is also diversifying its offerings to enable continued profitability.
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