Acuity Profit Hit By Material Costs As Backlog Falls

Acuity Brands' (AYI) Q2 earnings missed forecasts as price hikes on its lighting fixtures failed to offset all its higher material costs. Profit rose 27% to 57 cents a share, 5 cents below analysts' estimates. Sales climbed 10% to $457.7 million, just above views of $455.4 million. In an SEC filing, the company also said its backlog is about 12% smaller from a year ago. In intraday trading, shares were sinking 10%. Rival fixture makers Cooper