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
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
RELATED NEWS
Trade APOG now with 
Follow RTT