Revenue 6 billion 250 million yuan! Us lighting company Acuity Brands announces 2018 Q3 earnings

Yesterday, the US lighting company Acuity Brands announced its third quarter financial report in fiscal 2018.

In the third quarter of fiscal year 2018, Acuity Brands's net sales amounted to US $944 million (about 6 billion 250 million yuan), a 5.9% increase over the same period last year of US $891 million 600 thousand (about 5 billion 900 million yuan). Operating profit was 105 million 900 thousand US dollars (about 700 million yuan), a decrease of 25 million 600 thousand US dollars compared with the same period last year, or a decrease of 19.5%. Net income was US $73 million (about 480 million yuan), a decrease of 9 million 200 thousand US dollars compared with the same period last year, or a decrease of 11.2%. Diluted earnings per share ("RPS") were 1.80 US dollars (about 11.9 yuan), down 0.10 US dollars or 5.3% compared to the same period last year, which was 1.90 US dollars in the same period last year.

"Our third quarter performance is steady, especially in the challenging lighting market," said Vernon J. Nagel, chairman, chief executive officer and chief executive officer of Acuity Brands. Our net sales increased by nearly 6% in the third quarter, mainly due to the increase in shipments of Atrius lamps and the increase in shipments of infrastructure and utility projects, partly offset the decline in net sales of large commercial projects.

"The third quarter profitability measures are adversely affected by the adverse changes in product prices and product mix, and the negative impact of increased sales, distribution and management costs. This quarter, we have taken a series of measures to improve our profitability, including reintroducing our Contractor Select product portfolio at competitive prices to compete in this market. In addition, we have taken actions to strengthen some facilities. Finally, we are pleased to welcome the recent acquisition of IOTA engineering staff, whose leading technology and its excellent customer service will further enhance Acuity's market position in emergency lighting and equipment. "

For the next year, CEO Vernon J. Nagel expects the lighting market in North America to improve.

In a press statement, Nagel said, "the third party forecasts and leading indicators show that the demand for the North American lighting market will be moderately improved in the second half of 2018."

After the announcement of the earnings report, the stock of Acuity Brands rose by more than 10%. (Editor: LED net James)

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