ATLANTA (AP) -- Acuity Brands' fiscal fourth-quarter net income climbed 35 percent, helped by lower charges and continued strong demand for its LED products. The results topped analysts' estimates.
The stock rose to a fresh all-time in Tuesday morning trading.
For the three months ended Aug. 31, the lighting maker — whose brands include Holophane, Gotham and Tersen — earned $44.9 million, or $1.03 per share. That compares with $33.3 million, or 78 cents per share, a year earlier.
Analysts, on average, expected earnings of $1.02 per share, according to a FactSet survey.
Shares of Acuity Brands added $3.98, or 4.3 percent, to $96. The stock reached a new all-time high of $97.98 earlier in the session.
The latest quarter included a restructuring charge of $300,000, while the year-ago period included a restructuring charge and related expenses of $6.5 million.
Revenue rose 13 percent to $579.8 million from $514.3 million. Wall Street forecast $569.3 million in revenue.
Acuity Brands Inc., which is based in Atlanta, said that sales of LED products more than doubled from the prior-year period.
Full-year net income climbed 10 percent to $127.4 million, or $2.95 per share, from $116.3 million, or $2.72 per share, in the previous year.
Adjusted earnings were $3.31 per share compared with $3 per share a year earlier.
Annual revenue increased 8 percent to $2.09 billion from $1.93 billion.
