GLYT Genlyte Grp. (MM)

LOUISVILLE, Ky., Aug. 22 /PRNewswire-FirstCall/ -- The Genlyte Group Incorporated (NASDAQ:GLYT) today announced that the company's Board of Directors has authorized the repurchase of up to 5% or approximately 1,450,000 shares of the Company's outstanding common stock. Under the share repurchase program, the company expects to acquire shares primarily through open market transactions, subject to market conditions and other factors. The company may enter into Rule 10b5-1 plans to facilitate open market repurchases under the program at times when it might otherwise be prevented from doing so under certain securities laws, provided the plan is adopted when the Company is not in possession of material non-public information. Larry Powers, Chairman, President, and Chief Executive Officer of Genlyte Group, said, "The share repurchase program reflects our confidence in Genlyte's financial and operating performance strength. We completed four acquisitions during the past 18 months and we look forward to additional investments to optimize shareholder value in the future. The stock repurchase program will not impair our ability to take advantage of good acquisition and capital investment opportunities." Genlyte's sales for the year ended December 31, 2006 were $1,484.8 million with net income of $154.5 million and EBITDA of $240.3 million. As of the second quarter ended June 30, 2007 the Company had cash balances of $64.9 million and debt totaling $143.2 million. The Genlyte Group Incorporated (NASDAQ:GLYT) is a leading manufacturer of lighting fixtures, controls, and related products for the commercial, industrial and residential markets. Genlyte sells lighting and lighting accessory products under the major brand names of Alkco, Allscape, Ardee, Canlyte, Capri/Omega, Carsonite, Chloride Systems, Crescent, D'ac, Day-Brite, Gardco, Guth, Hadco, Hanover Lantern, High-Lites, Hoffmeister, Lam, Ledalite, Lightolier, Lightolier Controls, Lumec, Morlite, Nessen, Quality, Shakespeare Composite Structures, Specialty, Stonco, Strand, Thomas Lighting, Thomas Lighting Canada, Vari-Lite, Vista, and Wide-Lite. For additional information about Genlyte please refer to the Company's web site at: http://www.genlyte.com/ . DATASOURCE: The Genlyte Group Incorporated CONTACT: William G. Ferko, CFO, The Genlyte Group Incorporated, +1-502-420-9502 Web site: http://www.genlyte.com/

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