Acuity Brands (AYI) Unveils Smart Home Automation Juno AI
Zacks Investment Research | Nov 19, 2019 08:32PM ET
Acuity Brands, Inc. (NYSE:AYI) has recently unveiled the innovative portfolio of Juno AI intelligent LED Downlights, featuring built-in Alexa and integrated JBL speakers, to enhance smart home automation.
The simple and innovative downlights can be easily connected with other smart home devices, which will deliver voice-service through an ecosystem located out of sight.
The Juno AI portfolio comprises the Juno AI Speaker Light with Alexa built in, the Juno AI Speaker Light and the Juno AI LED Downlight that offers controllable, high-quality LED lighting.
Innovation to Boost Profitability
Acuity Brands is focused on innovating new lightening solutions. The company boasts a diversified portfolio of innovative lighting control solutions and energy-efficient luminaries. In response to the rapidly changing market trends, Acuity Brands is consistently expanding its portfolio of innovative lighting control solutions and energy-efficient luminaries. Also, it has been working on smart business strategies to achieve continued growth.
In fiscal 2019, Acuity Brands introduced almost 100 new product families to its industry-leading portfolio. This enabled the company to gain market share in product categories and sales channels. Its integrated, tiered solutions strategy is driving the company’s performance, leveraging its unique technology driven solutions portfolio to capture market share in the rapidly growing market. Its tier 3 (the new system-based solutions) and Tier 4 solutions (platform services that essentially run analytics on the mountains of data being pulled off the Tier 3 products) grew approximately 15% and contributed nearly 20% to net sales in fiscal 2019.
However, in the fourth quarter fiscal 2019, its net sales declined 11.6% from prior-year quarter’s level. The downtick was caused by 16% decline in volume. Decline in volume stemmed from shift in sales among key customers in the year-ago quarter within the retail channel along with elimination of certain products from the portfolio and soft market conditions.
The company is confident of the lighting and lighting-related industry as well as building automation systems that have the potential to experience solid growth over the next decade.. Also, the company is cautious about fiscal 2020, thanks to the U.S.-China trade tensions and tariffs.
Shares of Acuity Brands have underperformed its Zacks Investment Research
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