Apogee Enterprises 3rd Quarter EPS Increases; Apogee Increases Guidance for Fiscal 2006 to Reflect One-Time Item

Date: 16 December 2005
Source: Businesswire.com

Date: 16 December 2005

Apogee Enterprises, Inc. (Nasdaq:APOG) today announced fiscal 2006 third quarter earnings. Apogee develops and delivers value-added glass products and services for the architectural, large-scale optical and automotive industries.

THIRD QUARTER HIGHLIGHTS

-- Earnings from continuing operations were $0.32 per share, versus $0.20 per share a year earlier.

-- Current-quarter earnings include a $0.07 per share net tax benefit resulting from the resolution of certain tax matters.

-- Excluding the tax benefit, earnings were $0.25 per share, up 25 percent from the prior-year period earnings of $0.20 per share.

-- Operating margin was 5.3 percent, relatively flat compared to 5.4 percent in the prior-year period.

-- Revenues from continuing operations of $177.4 million were up 13 percent versus the prior-year period.

-- Architectural segment revenues were up 13 percent, and operating income increased 11 percent versus the prior-year period.

-- Architectural backlog grew 49 percent to $316.6 million, compared to the prior-year period.

-- Large-scale optical segment revenues increased 15 percent, while operating income increased 10 percent versus the prior-year period.

-- Increased full-year guidance from $0.74 to $0.80 per share, to $0.81 to $0.87 per share to reflect the net tax benefit of $0.07 per share in the current quarter.
600450 Apogee Enterprises 3rd Quarter EPS Increases; Apogee Increases Guidance for Fiscal 2006 to Reflect One-Time Item glassonweb.com

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