Apogee Enterprises Profit Misses Estimate, Revenue Beats

(RTTNews) - Apogee Enterprises Inc (APOG) Wednesday reported third-quarter net earnings of $13.7 million or $0.47 per share compared with $9.7 million or $0.33 per share last year.

Revenues for the quarter were up 23% at $244.4 million compared with $199.4 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.48 per share on revenues of $238.9 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company now expects earnings of $1.64 to $1.72 per share, from prior guidance of $1.62 to $1.72 per share; and continues to expect revenue growth of at least 20 percent.

Analysts expect earnings of $1.68 per share on revenue growth of 19.9% for the year.

"Our strategies to grow through new geographies, new products and new markets along with our focus on productivity and operational improvements are delivering results," the company said. "We have extended our long-term outlook to fiscal 2018 expectations for revenues of $1.3 billion at 12 percent operating margin."

Apogee Enterprises develops glass solutions for enclosing commercial buildings and framing art.