Boston, MA 04/04/2013 (wallstreetpr) – Acuity Brands (NASDAQ:AYI), the parent company of Acuity Brands Lightning and numerous subsidiaries, has begun to deliver profits. It is a global provider of outdoor and indoor lighting applications. This includes numerous devices for commercial, residential, infrastructure, industrial, and institutional purposes. Acuity Brands products such as power supplies, luminaries, LED lamps, prismatic skylines, and various integrated systems are high in demand.
Principal North American customers include electric utilities and distributors, home improvements, lighting solutions, and municipalities. LED lights form the bulk of sales for Acuity Brands, which is 15% of the total sales of various company products. There is a steady demand for this lighting system among the consumers and the sales presently have doubled from what they were in the previous years.
The current revenue beat for Acuity Brands is much higher than the general expectation. Shareholders naturally are upbeat with this evidence of a company’s growth. Current revenue stands at $ 487 million, which shows an increase of 6.34%. On Wednesday, AYI closed the stock market at $71.84, up by 5.26% over its previous close at $68.25. Acuity Brands is happy with the results for the second quarter of fiscal 2013. They plan to extend leaderships through the introduction of lighting solutions with a higher degree of energy efficiency, in coming times.
For Acuity Brands, the earnings per share (EPS) currently are $0.62. This is an 8.77% increase from $0.57 in the earlier quarter. Therefore, things surely are looking up presently. Net sales of the company show a sequential increase and thus reflect a favorable trend. When compared to other companies of its ilk the market cap of Acuity Brands is higher presently. For investors the market cap is something to monitor. It provides the true value of the company’s stock presented by the stock markets. The market cap for Acuity Brands is $3B, which is higher than that of other companies of the same niche.
The first quarter growth showed a negative trend for Acuity Brands and was a cause for worry. However, the second quarter results can help bring the confidence back among shareholders. Budgetary and political uncertainties stalled various up and coming projects in the previous quarters and this led to the dismal performance. With the release of pending programs and new ones in the offing, the future certainly looks bright for the company.