UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 11, 2017 (May 10, 2017)
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ACUITY BRANDS, INC.
(Exact name of registrant as specified in its charter)
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Delaware | 001-16583 | 58-2632672 | ||
(State or other jurisdiction of Company or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
1170 Peachtree St., N.E., Suite 2300, Atlanta, GA | 30309 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant's telephone number, including area code: 404-853-1400
None
(Former Name or Former Address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events.
On May 10, 2017, Acuity Brands, Inc. (the “Company”) announced the completion of the buyback of 2 million shares of the Company's common stock under the stock repurchase program previously authorized by the Board of Directors. A copy of the related press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
(d) | Exhibits |
99.1 | Press Release dated May 10, 2017 | |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 11, 2017
ACUITY BRANDS, INC. | ||
By: | /s/ Richard K. Reece | |
Richard K. Reece | ||
Executive Vice President and Chief Financial Officer | ||
EXHIBIT INDEX | ||
99.1 | Press Release dated May 10, 2017 | (Filed with the Commission as part of this Form 8-K). |
News Release | ||
Exhibit 99.1
Company Contact:
Dan Smith
Acuity Brands, Inc.
(404) 853-1423
Acuity Brands Completes Stock Repurchase Program
Buys Back 2 Million Shares
ATLANTA, May 10, 2017 - Acuity Brands, Inc. (NYSE: AYI) (“Company”) today announced it has completed the buyback of 2 million shares of the Company’s common stock under its previously authorized stock repurchase program. The repurchases represent a reduction of approximately 5 percent of the 44.1 million shares outstanding on March 30, 2017, as reported in the Company’s most recently filed Form 10-Q.
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, “The recent buyback of shares reflects our confidence in the Company’s future and its ability to continue to generate strong cash flow from operations. We believe that the repurchase of shares supports Acuity Brands’ objective to maximize long-term shareholder value, while continuing to fund investments to better serve our customers and grow our business, both organically and through acquisitions.”
About Acuity Brands
Acuity Brands, Inc. (NYSE: AYI) is the North American market leader and one of the world’s leading providers of lighting and building management solutions. With fiscal year 2016 net sales of $3.3 billion, Acuity Brands currently employs approximately 12,000 associates and is headquartered in Atlanta, Georgia with operations throughout North America, and in Europe and Asia. The Company’s products and solutions are sold under various brands, including Lithonia Lighting®, Holophane®, Peerless®, Gotham®, Mark Architectural Lighting™, Winona® Lighting, Juno®, Indy™, Aculux®, Healthcare Lighting®, Hydrel®, American Electric Lighting®, Carandini®, Antique Street Lamps™, Sunoptics®, Distech Controls®, Acuity Controls™, nLight®, ROAM® and Sensor Switch®. Visit us www.acuitybrands.com.
Forward Looking Information
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that may be considered forward-looking include statements incorporating terms such as "expects," "believes," "intends," “estimates”, “forecasts,” and similar terms that relate to future events, performance, or results of the Company and specifically include statements made in this press release regarding the
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News Release | ||
Company’s ability to continue to generate strong cash flows from operations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the historical experience of Acuity Brands and management's present expectations or projections. Management believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events.
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