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Apogee reports 13 percent architectural backlog increase

Post Time:Jun 25,2012Classify:Industry NewsView:79

Apogee Enterprises, Inc., parent company of Viracon, Harmon, Wausau Window and Wall Systems, Linetec, and Tubelite,announced that revenues of $154.1 million were up 1 percent in the FY2013 first quarter compared to the same period one year ago.

In the architectural products and services segment, strong growth from share gains in the storefront and installation businesses was offset by the expected first-quarter gap in architectural glass project timing, according to a June 20 release. Operating loss was $1.9 million, compared to a loss of $7.1 million in the FY2012 first quarter. Results improved from the prior-year period, with higher architectural glass pricing and the impact from storefront volume growth partially offset by lower margin work in the installation business. Backlog was $267.3 million, compared to $237.0 million in the fiscal 2012 fourth quarter and $237.1 million in the prior-year period.

“Our anticipated revenue growth for fiscal 2013 will come in part from continued U.S. geographic expansion in our installation and storefront businesses, while earnings for the year are expected to benefit from improved architectural glass pricing, higher project margins in the second half and the ongoing strong performance of our picture framing glass and acrylic business," said Joseph Puishys, CEO, in the release.

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Source: http://www.glassmagazine.com/news-item/commercial/apogee-reports-13-percent-architectural-backlog-increase-129843Author:

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