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Apogee: weak commercial contruction hits 3Q 2003 net profit

Architectural, optical and auto glass manufacturer Apogee Enterprises Inc. posted a sharp fall in quarterly net profit due mainly to weak commercial construction markets.
In a statement on 17 Decembe…

Architectural, optical and auto glass manufacturer Apogee Enterprises Inc. posted a sharp fall in quarterly net profit due mainly to weak commercial construction markets. In a statement on 17 December 2003 the Minneapolis-based company said that it earned a net profit of USD 2.5 million, or USD 0.09 per share, in the fiscal 3Q ended 29 November 2003, compared to USD 7.6 million, or USD 0.27 a share, a year earlier. Quarterly earnings reflected a loss of USD 0.11 a share from discontinued operations in the quarter, versus a loss of USD 0.08 a share for the same quarter of 2002. Earnings from continuing operations were USD 5.5 million, or USD 0.20 a share, compared with USD 9.9 million, or USD 0.35 per share in the fiscal 3Q 2002.

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