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Apogee Reports Increased Revenue, Appoints New Director

Post Time:Jun 26,2013Classify:Industry NewsView:68

Apogee Enterprises Inc. reported revenues of $179.3 million for the first quarter, up 16 percent from the previous year. The report indicated strong growth and improved operating income in the architectural glass and services segments.Architectural glass saw revenues of $74.8 million in the quarter, up 27 percent from the previous year. Operating income was $1.4 million, compared to an operating loss of $2.4 million last year.

Architectural services revenues of $46.5 million were up 19 percent on volume growth and the timing of project cost flow. Operating loss was $1.0 million, improved from last year's first quarter operating loss of $2.6 million.

Architectural framing systems revenues of $44.4 million were up 5 percent for the quarter, compared to the previous year. Operating income was $2.1 million, compared to $3.1 million.

Apogee also announced the election of a new director, Donald A. Nolan, president of the Avery Dennison Corp. Materials Group. Serving on Apogee's audit committee, Nolan is the 10th member of Apogee's board of directors.Nolan has been with Avery Dennison since 2008. Previously, he served as senior vice president of global packaging and automotive coatings for Valspar Corp., in addition to working at Loctite Corp., Ashland Chemical Co. and General Electric Co.

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Source: http://www.glassmagazine.com/news-item/commercial/apogee-reports-increased-revenue-appoints-new-director-1311311Author:

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