Apogee Enterprises 3rd-quarter earnings rise

Apogee Enterprises Inc., a maker of glass products for the building and auto industries, on Wednesday posted higher third-quarter earnings and affirmed its outlook for the current and next fiscal years.

For the quarter ended Dec. 1, earnings were $5.8 million, or 20 cents per diluted share, compared with $3.0 million, or 11 cents per share, earned in the same period of the prior year.Revenues for the third quarter totaled $200.3 million, up from revenues of $197.3 million a year earlier.Apogee said it maintained its forecast of earnings per share between 85 cents and 90 cents for the fiscal year ending March 2, 2002, although fourth-quarter revenues are expected to decrease slightly.Debt is anticipated to decline to about $75 million by the end of the year.

Apogee expects earnings per share of $1.00 for fiscal 2003, on revenue growth in the low single digits.

600450 Apogee Enterprises 3rd-quarter earnings rise glassonweb.com
Date: 21 December 2001
Source: Yahoo

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