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Acuity Brands Inc (AYI) SEC Filing 10-K Annual report for the fiscal year ending Friday, August 31, 2018

Acuity Brands Inc

CIK: 1144215 Ticker: AYI

News Release

Exhibit 99.1
Company Contact:
Dan Smith
Acuity Brands, Inc.
(404) 853-1423


Acuity Brands Reports Record Quarterly and Full-Year Results
Quarterly Net Sales Exceed $1 Billion For First Time
ATLANTA, October 3, 2018 -
Acuity Brands, Inc. (NYSE: AYI) (the “Company”) today announced record fourth quarter and full-year results for net sales, net income, and diluted earnings per share (“EPS”). Fiscal 2018 fourth quarter net sales of $1.06 billion increased approximately $104 million, or 11 percent, compared with the year-ago period. Operating profit for the fourth quarter of fiscal 2018 was $142 million compared with $153 million in the year-ago period. Net income for the fourth quarter of fiscal 2018 was $108 million, an increase of approximately 20 percent compared with the prior-year period. Fiscal 2018 fourth quarter diluted EPS of $2.70 increased approximately 26 percent compared with the year-ago period.
Adjusted diluted EPS for the fourth quarter of fiscal 2018 increased 5 percent to $2.68 compared with the year-ago period. Adjusted operating profit for the fourth quarter of fiscal 2018 was $154 million compared with $176 million in the year-ago period, and adjusted operating profit margin decreased 390 basis points over the prior-year period to 14.5 percent. Adjusted results exclude the impact of amortization expense for acquired intangible assets, share-based payment expense, acquisition-related items (including acquired profit in inventory and professional fees), special charge/credit for planned streamlining activities, gain associated with the sale of the Company’s Spanish lighting business, and an income tax net benefit for discrete items associated with the Tax Cuts and Jobs Act of 2017 (“TCJA”). Management believes these items impacted the comparability of the Company's results and that adjusted financial measures enhance the reader’s overall understanding of the Company's current financial performance by making results comparable between periods. A reconciliation of adjusted financial measures to the most directly comparable U.S. GAAP measure is provided in the tables at the end of this release.
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, “Our fourth quarter performance was solid, particularly against the backdrop of a challenging lighting market where larger commercial projects remained soft and input costs rose significantly. Net sales growth of 11 percent was robust and was driven primarily by volume growth in our Contractor Select portfolio, Atrius-enabled luminaires, and Holophane solutions. Overall, we experienced solid growth in net sales in most channels and

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The following information was filed by Acuity Brands Inc (AYI) on Wednesday, October 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Acquisitions And Investments
Acquisitions And Investments - Fiscal 2016 Acquisitions (Details)
Acquisitions And Investments - Fiscal 2018 Acquisitions (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Common Stock And Related Matters
Common Stock And Related Matters (Details)
Common Stock And Related Matters (Tables)
Common Stock And Related Matters - Earnings Per Share (Details)
Debt And Lines Of Credit
Debt And Lines Of Credit (Tables)
Debt And Lines Of Credit - Debt (Details)
Debt And Lines Of Credit - Lines Of Credit (Details)
Description Of Business And Basis Of Presentation
Description Of Business And Basis Of Presentation (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Income Taxes - Provision For Income Taxes (Details)
Income Taxes - Reconciliation Of Change In Unrecognized Income Tax Benefit (Details)
New Accounting Pronouncements
New Accounting Pronouncements - Narrative (Details)
Pension And Defined Contribution Plans
Pension And Defined Contribution Plans (Details)
Pension And Defined Contribution Plans (Tables)
Pension And Defined Contribution Plans - Fair Value Measurements And Benefit Payments (Details)
Pension And Defined Contribution Plans - Net Periodic Pension Cost And Pension Plan Asset Allocation (Details)
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited) (Details)
Quarterly Financial Data (Unaudited) (Tables)
Share-Based Payments
Share-Based Payments (Details)
Share-Based Payments (Tables)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Significant Accounting Policies - Assets Held For Sale (Details)
Significant Accounting Policies - Changes Of Accumulated Other Comprehensive Income Loss Items, Net Of Tax (Details)
Significant Accounting Policies - Components Of Other Comprehensive Income Loss (Details)
Significant Accounting Policies - Concentrations Of Credit Risk (Details)
Significant Accounting Policies - Depreciation (Details)
Significant Accounting Policies - Goodwill And Other Intangibles (Details)
Significant Accounting Policies - Interest Expense (Details)
Significant Accounting Policies - Inventories (Details)
Significant Accounting Policies - Miscellaneous Income, Net (Details)
Significant Accounting Policies - Other Long-Term Assets And Liabilities (Details)
Significant Accounting Policies - Revenue Recognition (Details)
Significant Accounting Policies - Selling, Distribution And Administrative Expenses (Details)
Special Charge
Special Charge (Details)
Special Charge Special Charge (Tables)
Supplemental Disaggregated Information
Supplemental Disaggregated Information (Details)
Supplemental Disaggregated Information (Tables)
Supplemental Guarantor Condensed Consolidating Financial Statements
Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)
Supplemental Guarantor Condensed Consolidating Financial Statements - Balance Sheets (Details)
Supplemental Guarantor Condensed Consolidating Financial Statements - Cash Flows (Details)
Supplemental Guarantor Condensed Consolidating Financial Statements - Income Statement (Details)
Ticker: AYI
CIK: 1144215
Form Type: 10-K Annual Report
Accession Number: 0001144215-18-000110
Submitted to the SEC: Thu Oct 25 2018 12:31:34 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Friday, August 31, 2018
Industry: Electric Lighting And Wiring Equipment

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