Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Register
To receive FREE breaking news email alerts for Apogee Enterprises Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
German unemployment reached the lowest in more than two decades in November, boosting confidence among businesses and households. The seasonally adjusted jobless rate for November was 6.6 percent, unchanged from October's figure that was downwardly revised, data from the Federal Labor Agency showed Thursday. Eurozone money supply supply growth remained steady in October, while lending to the private sector continued to fall, despite the stimulus efforts from the European Central Bank. The annual growth of broad money, or M3, was 2.5 percent in October, unchanged from September, the ECB said on Thursday.... Australia's international cricketer Phillip Hughes, who sustained critical injury after being hit on the head by a ball during a domestic match Tuesday, has died. The 25 year-old promising player had been fighting for his life for two days at St Vincent's Hospital in Sydney, in induced coma. Australian cricket team's doctor Peter Brukner said at a news conference Thursday that Hughes died as a
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.