Apogee Enterprises, Inc. (APOG) reported that its third-quarter net earnings increased to $8.05 million or $0.28 per share, from $5.54 million or $0.20 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $190.42 million from $174.85 million in the prior year quarter. Three analysts had consensus revenue estimate of $182.45 million for the quarter.
The company raised its fiscal 2013 earnings from continuing operations outlook to a range of $0.62 to $0.67 per share, from the prior outlook of $0.56 to $0.64 per share, as it benefits from improving margins resulting from better mix and good operational performance.
The company expects revenues for the full year will grow 5 to 6 percent as it continues to outperform its end markets.
For the full year, the company expect positive free cash flow, net of spending approximately $30 million of capital for investments to improve productivity, increase capacity and introduce new products, as well as for maintenance requirements.
Analysts expect the company to report earnings of $0.65 per share on revenues of $687.02 million for fiscal 2013.
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