US manufacturer of glass products for the building and auto industries Apogee Enterprises, Inc. said in mid-September that its quarterly earnings fell 17% on tough auto and architectural markets.
Apo…
US manufacturer of glass products for the building and auto industries Apogee Enterprises, Inc. said in mid-September that its quarterly earnings fell 17% on tough auto and architectural markets. Apogee, of Minneapolis, reported net income of US$ 8.6 million, or 30 cents a share, compared with US$ 10.3 million, or 36 cents in the same period of 2001. Revenues slipped 5%, to US$ 200.3 million from US$ 210.2 million. The company forecast fiscal 2003 earnings of US$ 1 a share, compared with 91 cents a year ago, and said it was disappointed with a slower-than-expected rebound in the commercial construction industry. It said it was committed to its long-term earnings growth plan of 10% to 15% a year, and revenue growth of 7% to 10%.