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Earnings Analysis: 
Acuity Brands Reverses to Profit
Author: Ivaylo Dagnev
123jump.com
Last Update: 9:29 AM EDT April 05 2006



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Acuity Brands, Inc, lighting equipment producer, reported Q2 net income of 32 cents per share, up from a net loss of 20 cents per share in the year-ago period. The results for Q2 included an additional pretax expense of approximately 5 cents per share, for certain share-based incentive plans.

 
Acuity Brands, Inc., (AYI: chart), said that the share-based incentive plans were impacted by the 27% appreciation in the Company’s stock price in Q2 and the adoption of SFAS123®, an accounting standard related to share-based payments. The year-ago period incorporated a charge of 26 cents per share related to efforts to streamline the organization. Net sales for the first half of fiscal 2006 came to $1,115.4 million compared with $1,030.3 million in 2005, a rise of 8.3%.

Pathmark Stores, Inc., (PTMK: chart), grocery stores operator, reported Q4 net loss of 28 cents per share, up from a net loss of $10.03 cents per share in the prior year''s period. The results for Q4 of fiscal 2005 and fiscal 2004 included certain adjustments. Excluding these adjustments, Q4 net loss would have been 17 cents per share. Sales for Q4 were $993.3 million, a decline of 0.4% from $996.8 million in the prior year''s period. Same-store sales declined 0.8% in Q4.

Greenbrier Cos., (GBX: chart), railcar manufacturer, reported that Q2 earnings advanced 78% to 54 cents per share, up from 31 cents per share despite a 7% decline in revenue, as better margins drove results. The company took a charge during Q2 that cut its earnings by 2 cents per share. Excluding the charge, Greenbrier matched analysts’ expectations of 56 cents per share.

Monsanto Co., (MON: chart), seed company, reported Q2 net income of $1.60 a share, up from $1.37 a share in the year-ago period. The company said sales in Q2 advanced to $2.2 billion from $1.91 billion on a boost from corn seeds and traits. Monsanto beat analysts’ expectations for earnings of $1.52 a share. Monsanto reaffirmed a 2006 earnings outlook toward the upper end of its previously announced range of $2.35 to $2.50 a share.
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