logo
Share SHARE
FONT-SIZE Plus   Neg

Apogee Enterprises Turns To Profit In Q4 - Quick Facts

Apogee Enterprises Inc. (POG) reported that its fourth-quarter net income was $2.96 million or $0.11 per share, compared to a net loss of $4.41 million or $0.16 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter rose to $168.71 million from $147.90 million in the prior year quarter. Three analysts had consensus revenue estimate of $166.51 million for the quarter.

"Our year-over-year improvement was particularly strong in the architectural segment. However, our large-scale optical picture framing glass business continued to deliver solid results," said Joseph Puishys, Apogee chief executive officer.

The company expects continued revenue and earnings growth in fiscal 2013, as its architectural business continues to gain market share.

The company expects mid-single digit revenue growth for fiscal 2013, in part coming from continued U.S. geographic expansion in our installation and storefront businesses.

Looking ahead for fiscal 2013, the company anticipates earnings per share to be in the range of $0.40 to $0.50, as it expect to benefit from a full year of improved architectural glass pricing, higher installation margins in the second half and the ongoing strong performance of its picture framing glass business.

Analysts expect the company to report earnings of $0.59 per share on revenues of $719.13 million for fiscal 2013.

The company said that its second half should be better than the first half of fiscal 2013 due to an expected first-quarter gap in project flow and improvement in commercial construction market conditions occurring in the second half.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Philips Electronics NV were gaining around 4 percent in the early morning trading in Amsterdam after the Dutch consumer electronics giant reported Monday that its second-quarter net income from continuing operations increased with higher sales and orders. Net income, meanwhile, declined with lower income from discontinued operations. Embark Veterinary Inc., a startup that makes dog DNA-testing kits for pet owners, vets and breeders, said it has raised $4.5 million in funding from investors and relocated its headquarters to Boston. The company intends to use the new funding to expand its canine genetic testing suite for pet owners, breeders, and veterinarians. Intel Corp. has completely shut down its wearables division about two weeks ago, CNBC reported, citing a person familiar with the matter. The company reportedly intends to focus on augmented reality. According to the CNBC report, Intel laid off about 80 percent of the team that made the Basis fitness watch in November 2016 and has now eliminated the division entirely.
comments powered by Disqus
Follow RTT