AZZ Inc. (AZZ) a provider of electrical equipments and galvinizing services, Monday reported higher profit for the fourth quarter, owing mainly to a revenue increase across the segments. The company further revised up full-year 2014 expectations to reflect the acquisition of Aquilex SRO during the last eleven months of fiscal 2014.
For the reporting period the firm posted net income of $13.23 million or $0.52 per share, up from net income of $11.64 million or $0.46 per share last year. The company further reported earnings per share without recurring items of $0.50.
On average, five analysts polled by Thomson Reuters estimated earnings per share of $0.48 for the quarter. Analysts estimates typically exclude one-time items.
Revenue for the three months was $140.39 million, up from $123.62 million posted a year earlier. Analysts were looking for revenue of $142.69 million for the period.
Looking forward, the firm said it now expects revenue for fiscal 2014 in the range of $825 to $900 million versus the prior view of between $625 and $660 million and earnings per share of between $2.65 and $2.95 compared to previous outlook in a range of $2.50 to $2.75.
Analysts are currently looking for revenue of $880.05 million and earnings per share of $2.96 for the full-year.
The company has further announced a dividend of $0.14 per share, payable on May 3, to shareholders of record on April 19.
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