Acuity Brands (AYI) Tops Q2 EPS by 3c

Acuity Brands (NYSE: AYI) reported Q2 EPS of $1.08, $0.03 better than the analyst estimate of $1.05. Revenue for the quarter came in at $616.1 million versus the consensus estimate of $627.95 million.

Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, "We were extremely pleased with our record fiscal 2015 second quarter results. Gross profit margin of 41.5 percent increased 210 basis points over prior year's second quarter, while adjusted operating profit margin also increased 210 basis points year-over-year to 12.8 percent. Our variable contribution margin, that is the incremental adjusted operating profit as a percentage of the increase in net sales, was over 29 percent. We believe our record second quarter results reflect the on-going recovery in new construction and our ability to provide customers truly differentiated value from our industry-leading portfolio of innovative lighting and control solutions along with superior service."

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