Apogee Reports 11 Percent Increase in Architectural Glass Revenues

Apogee Enterprises Inc.
September 20, 2013
COMMERCIAL, RETAIL, FABRICATION : FINANCE

Apogee Enterprises Inc. reported improved second quarter results in a Sept. 18 press release, with architectural glass segment revenues of $70 million up by 11 percent year-over-year. The segment's operating income of $800,000 improved from a $2 million operating loss in 2012, and its operating margin increased by 1.1 percent, compared to a decrease of 3.2 percent in 2012.

“The biggest contributor to our strong operating income growth was our architectural glass segment, which benefited from improved mix, pricing and productivity,” said Joseph F. Puishys, Apogee chief executive officer, in the release. “We are maintaining our outlook for fiscal 2014 revenue growth in the high single digits,” Puishys said. “We are experiencing strong bidding activity for future architectural work; our pipeline for new project awards is positive; we anticipate backlog growth in the third quarter; and margins on new orders continue to be better than prior-year margins."

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