Second we had a very successful year in LED lighting. Our business grew at 150% during the year, and we were pleased to see that the adoption rate of LED surpassed 10% of our lighting sales, a great indication of Hubbell’s leadership in this new and exciting technology that offers our customers the opportunity to save money.Third, our strong financial performance this year has further strengthened our balance sheet, and has allowed us to deploy our cash in several ways. During 2011, we increased the dividend and repurchased over 2 million shares. In addition we closed on two small acquisitions during the fourth quarter. The acquisition pipeline is quite active, and our strong cash position will enable us to continue to pursue additional deals in 2012.
Hubbell CEO Discusses Q4 2011 Results - Earnings Call Transcript
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