January 08, 2013 at 10:59 AM EST
Lighting Maker Acuity Q1 Darkened By Building Lull
Acuity Brands (AYI) said customers took a "wait and see" approach on orders, in the face of the fiscal cliff and uncertain non-residential building environment in the U.S. and elsewhere. But the lighting systems maker said orders should stabilize and pick up in the second half 2013. Acuity reported adjusted fiscal Q1 earnings of 69 cents in the Nov. 30-ended quarter, down almost 7% from a year earlier, and missing analysts' consensus estimates of
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