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

Editors Pick
Google is planning to significantly expand a carpool service on its navigational app Waze, according to a report in the Wall Street Journal. The move indicates the company is edging closer to a potential clash with ride-hailing service Uber Technologies Inc. Private equity firm Sycamore Partners has won the bankruptcy auction for the e-commerce business and intellectual property of U.S. women's apparel retailer The Limited with a bid of $26.8 million, Reuters reported, citing people familiar with the matter. A U.S. bankruptcy court judge must now approve the sale to Sycamore Partners. French telecommunications operator Orange SA reported Thursday higher net profit in its fiscal year 2016 mainly on income from discontinued operations. Operating income, meanwhile, declined, despite increased revenues. For fiscal 2017, the company projects higher adjusted EBITDA, a key earnings metric.
comments powered by Disqus
Follow RTT