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 | |
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