Apogee Backs Its 2006 Earnings Guidance

Specialty glass maker Apogee Enterprises Inc. backed its fiscal-year 2006 guidance on Wednesday, and said it expects "strong" earnings growth in 2007.

For the fiscal year 2006, which ends Feb. 25, the company hopes earnings will be in the "top half" of its projected range of 81 cents to 87 cents per share.Excluding a one-time tax benefit of 7 cents per share, earnings are expected to be 74 cents to 81 cents per share.

Looking to 2007, the company projects earnings of 88 cents to 94 cents per share. Excluding stock option expenses of 5 cents per share, earnings for 2007 are expected to be 93 cents to 99 cents per share. Revenue for the year is expected to grow by 5 to 9 percent.

"Our architectural markets continue to improve, and we expect to gain further share through strong sales of our value-added products and services, including energy-efficient, and hurricane and blast resistant products and systems," Russell Huffer, Apogee chairman and chief executive said in a prepared statement.

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