Apogee Reports Improved Third-Quarter Results

Apogee Enterprises, Inc. (Nasdaq:APOG) today announced fiscal 2014 third-quarter results. Apogee provides distinctive solutions for enclosing commercial buildings and framing art.     FY14 THIRD QUARTER VS.


  • Revenues of $199.4 million were up 5 percent.
  • Operating income of $12.7 million was up 11 percent.
  • Earnings per share of $0.33 were up 18 percent.
  • Consolidated backlog was $299.9 million, compared to $302.9 million.
  • Free cash flow tripled to approximately $21 million.
  • Cash and short-term investments were $22.5 million, compared to $75.0 million.
    • Acquired Alumicor Limited, a Canadian non-residential window, storefront, entrance and curtainwall company, for approximately $52 million in cash.


“Apogee recorded another solid quarter, with growth in revenues and earnings per share, and positive free cash flow,” said

Joseph F. Puishys , Apogee chief executive officer. “At the same time, we used cash to acquire a leader in the Canadian storefront and entrance market with approximately C$60 million in annual revenues, supporting our growth strategies that include a focus on new international geographies and new product introductions.

“Revenues were up 5 percent in the quarter, and all segments have grown year to date,” he said. “We’ve maintained our backlog level, and more importantly, are seeing growth in our pipeline of project commitments and awards, as well as continued strong bidding activity as our markets begin to improve.

“Our operating income growth of 11 percent was driven by improved mix and productivity in the Architectural Glass segment, and increasing margins and ood

project execution in the Architectural Services segment, which returned to profitability,” said Puishys. “In addition, the Architectural Framing Systems segment earnings increased slightly as it absorbed acquisition integration costs. In the Large-Scale Optical segment, a good mix was offset by promotional activities and some increased manufacturing costs.”

Read more here.

600450 Apogee Reports Improved Third-Quarter Results glassonweb.com
Date: 20 December 2013
Source: Apogee Enterprises, Inc.

See more news about:

See more from these topics:

Others also read

The new $80 million, 221-foot-tall, torch-shaped tower has improved safety, security and design standards, and has obtained LEED® Gold status.
Apogee Enterprises, Inc.'s Building Retrofit Strategy Team has hired Mike Sheppy as certified energy manager engineer.
Mary (Olivier) Avery has been promoted to vice president of marketing at Tubelite Inc. Avery reports directly to company president Amy Cole, and is a part of the Tubelite Management Team.
Tubelite Inc. announces the addition of Archon Fenestration Technologies, LLC (Archon Fen-Tech) as an independent manufacturer's representative serving select clients in Kansas, Missouri and Nebraska.
Tubelite Inc. has hired W. Jeff Tate as a client development manager serving south Georgia, eastern South Carolina and the Florida panhandle. He reports to Tubelite's Southeast regional sales manager, Pat Daniels.
High light transmission, outstanding solar control and superior aesthetics all in one coating   

Add new comment