Fiscal 2012 third quarter results included $2.7 million of net miscellaneous income compared with $0.9 million of net miscellaneous expense in the prior-year period. Net miscellaneous income/expense consists primarily of gains and losses resulting from the impact of exchange rates changes on foreign currency exposures, particularly those associated with the Mexican Peso.The effective tax rate for the third quarter of fiscal 2012 was 35.8 percent compared with 35.2 percent for the prior-year period. The increase in the effective tax rate was due primarily to higher taxable income, nondeductible losses in Spain, and the expiration of the research and development tax credit which occurred at the end of calendar year 2011. The Company’s effective tax rate for fiscal 2012 is forecasted to be approximately 35 percent.
Acuity Brands Reports Fiscal 2012 Third Quarter Results
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