EX-99.1 2 dex991.htm CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) OF ACUITY BRANDS, INC. Consolidated Statements of Operations (Unaudited) of Acuity Brands, Inc.

EXHIBIT 99.1

ACUITY BRANDS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except per-share data)

 

      Three Months Ended     Year Ended
August 31,
2007
 
     November 30,
2006
   February 28,
2007
    May 31,
2007
    August 31,
2007
   

Net Sales

   $ 477,617    $ 444,334     $ 502,429     $ 540,401     $ 1,964,781  

Cost of Products Sold

     297,167      279,273       313,780       330,246       1,220,466  
                                       

Gross Profit

     180,450      165,061       188,649       210,155       744,315  

Selling, Distribution, and Administrative Expenses

     126,938      125,375       128,965       140,614       521,892  
                                       

Operating Profit

     53,512      39,686       59,684       69,541       222,423  

Other Expense (Income):

           

Interest expense, net

     8,067      7,783       7,284       6,717       29,851  

Miscellaneous expense (income), net

     257      (59 )     (277 )     (1,535 )     (1,614 )
                                       

Total Other Expense

     8,324      7,724       7,007       5,182       28,237  
                                       

Income from continuing operations before Provision for Income Taxes

     45,188      31,962       52,677       64,359       194,186  

Provision for Income Taxes

     15,685      9,959       18,363       21,492       65,499  
                                       

Income from Continuing Operations

     29,503      22,003       34,314       42,867       128,687  

Discontinued Operations

     4,064      2,355       4,362       8,586       19,367  
                                       

Net Income

   $ 33,567    $ 24,358     $ 38,676     $ 51,453     $ 148,054  
                                       

Earnings Per Share:

           

Basic Earnings per Share from Continuing Operations

   $ 0.70    $ 0.52     $ 0.80     $ 1.00     $ 3.02  
                                       

Basic Earnings per Share from Discontinued Operations

   $ 0.10    $ 0.05     $ 0.10     $ 0.20     $ 0.45  
                                       

Basic Weighted Average Number of Shares Outstanding

     42,204      42,544       42,861       42,907       42,585  
                                       

Diluted Earnings per Share from Continuing Operations

   $ 0.68    $ 0.50     $ 0.78     $ 0.97     $ 2.93  
                                       

Diluted Earnings per Share from Discontinued Operations

   $ 0.09    $ 0.05     $ 0.10     $ 0.19     $ 0.44  
                                       

Diluted Weighted Average Number of Shares Outstanding

     43,732      43,911       44,118       44,168       43,897