Apogee provides distinctive value-added glass solutions for the architectural and picture framing industries.
"We are honored to have the opportunity to participate in the opening bell ceremony, at the NASDAQ MarketSite, located at 4 Times Square," said Russell Huffer, Apogee chairman and chief executive officer. "4 Times Square, as well as countless other buildings in New York City and across the nation, are benefiting from energy-efficient architectural glass fabricated by Apogee.
"The growing green building trend is contributing to Apogee's strong performance, despite concerns about a slowdown in the commercial construction industry," said Huffer. "We have the wide variety of aesthetic architectural glass products architects want, with the best energy-efficiency properties available in our markets, making buildings with our glass more valuable."
Apogee achieved record earnings of $1.49 per share in fiscal 2008 and expects to earn from $1.82 to $1.94 per share on revenue growth of 12 to 15 percent in fiscal 2009, which started in March.
"Our architectural segment, approximately 90 percent of our revenues, has been operating well in markets that are using more and more value-added design and energy-efficient products," said Huffer. "We are positioned for continued strong growth for our architectural segment in fiscal 2009. We started the new fiscal year with our highest architectural backlog ever - $510.9 million. We have strong visibility for fiscal 2009 and into fiscal 2010 due to our backlog, project commitments, strong bidding activity, and the construction levels and green building trends in markets we serve."
A live webcast of the NASDAQ opening bell ceremony, which will include remarks from Huffer, will be available at approximately 8:20 a.m. central time at: http://www.nasdaq.com/about/marketsitetowervideo.asx
Apogee Enterprises, Inc., headquartered in Minneapolis, is a leader in technologies involving the design and development of value-added glass products and services. The company is organized in two segments:
-- Architectural products and services companies design, engineer, fabricate, install, maintain and renovate the walls of glass and windows, and storefronts and entrances comprising the outside skin of commercial and institutional buildings.
-- Large-scale optical segment consists of a value-added glass and acrylic manufacturer for the custom framing market and commercial optics.
CONTACT: Apogee Enterprises, Inc.
Mary Ann Jackson, 952-487-7538