US-based speciality glass producer Apogee Enterprises Inc. reported fiscal second-quarter earnings that were below last year“s results but ahead of analysts“ estimates.
At the same time, Apogee sai…
US-based speciality glass producer Apogee Enterprises Inc. reported fiscal second-quarter earnings that were below last year“s results but ahead of analysts“ estimates. At the same time, Apogee said it raised its earnings expectations for the current 2001 fiscal year, which ends March 3, 2001. The company said its second-quarter earnings from continuing operations was US$ 4.2 million, or 15 cents a diluted share, on sales of US$ 236.4 million, compared with earnings of US$ 5.3 million, or 19 cents a share, on sales of US$ 217.0 million in the year-ago quarter. Wall Street analysts had expected the company to earn 6 cents a share, according First Call/Thomson Financial, which tracks such earnings data. Apogee said it had earned from discontinued operations an additional US$ 8.7 million, or 31 cents a diluted share, last year. The fiscal 2001 second quarter results, for the three months ended September 2, did not include any discontinued operations. The company also increased its expectations for full year fiscal 2001 to a range of 37 to 41 cents a diluted share. Its previous estimate was a range of 25 to 30 cents.