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Acuity Brands beats Street 1Q forecasts

Acuity Brands on Friday reported fiscal first-quarter net income climbed by 16 percent to $51.1 million.

On a per-share basis, the Atlanta-based company said it had profit of $1.17. Earnings, adjusted for non-recurring costs, were $1.32 per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The lighting maker posted revenue of $647.4 million in the period, also topping Street forecasts. Analysts expected $635.6 million, according to Zacks.

Acuity Brands shares have increased slightly more than 1 percent since the beginning of the year. The stock has increased 29 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. AYI stock research report from Zacks.