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Apogee Revenues for FY2013 Up 6 Percent Over 2012

Post Time:Apr 10,2013Classify:Industry NewsView:47

Apogee Enterprises,parent company of Viracon, Harmon, Wausau Window and Wall Systems, Linetec, and Tubelite, announced that fiscal 2013 full-year revenues of $700.2 million were up 6 percent over FY2012. During fiscal 2013, architectural segment revenues grew 6 percent, led by the installation, storefront and window businesses, and operating income improved by more than $20 million, driven by improved architectural glass pricing and product mix, good operational performance across the segment, and earnings on revenue growth, according to an April 10 release.

“I am very pleased with our fiscal 2013 results ...," said Joseph Puishys, CEO, in a release.“Our architectural backlog is up 25 percent from the previous year end... . At the same time, we made considerable progress on our growth strategies, ranging from success in our new Texas installation and storefront markets, to new products in our businesses,” he said.

“In addition, in our architectural glass business, we made significant productivity improvements as we managed capacity and upgraded operations, and are investing in new capabilities and efficiencies in our largest facility via a new state-of-the-art coater. “

“We expect to drive strong top- and bottom-line improvement in fiscal 2014 as we continue to implement growth and productivity initiatives,” Puishys continued. “Revenue growth should largely come from domestic geographic growth and new products, and our earnings should benefit from strong architectural glass pricing and mix, and improving installation margins, as both businesses execute more complex, private projects."

“We are experiencing stronger bidding activity for future work, and margins on new orders are improving,” Puishys said. “The outlook for U.S. commercial construction markets in fiscal 2014, based on Apogee’s lag to McGraw-Hill forecasts for the segments we serve, is for low single-digit market growth. We again expect to outperform market growth by several percentage points."

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Source: http://www.glassmagazine.com/news-item/commercial/apogee-revenues-fy2013-6-percent-over-2012-1311026Author:

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