Upbeat Quarterly Results Sends Acuity Brands Shares Higher In Pre-market

(RTTNews) - Shares of industrial technology company Acuity Brands, Inc. (AYI) are up more than 5% in pre-market on Tuesday after reporting better-than-expected fourth-quarter results.

The company said its net income in the fourth quarter increased 17.6% to $115.4 million, on strong demand. EPS increased 27.9% to $3.48.

Excluding one-time items, earnings were $3.95, that beat the average estimate of analysts polled by Thomson-Reuters of $3.59 per share.

Sales for the quarter increased 11.8% year-over-year to $1.11 billion. The consensus estimate was for $1.08 billion.

AYI closed at $159.65, up 1.38% on Monday. It has traded in the range of $142.71-$224.59 in the last 52 weeks.