Apogee Enterprises Posts Strong Q3, Raises Guidance

Apogee Enterprises Inc APOG announced fiscal 2015 third-quarter results on Wednesday.

Revenues came in at $244.4 million, above estimates of $238.94 million and up 23 percent from the prior year period.

Operating income was $20.6 million, up 62 percent from the year-ago period.

Earnings per share were $0.47, $.01 below estimates and up 42 percent from the prior year period.

The company reported backlog of $493.9 million, up 65 percent, or $194 million. Cash and short-term investments were $34.3 million at the end of the quarter.

“I am pleased that Apogee again achieved another quarter of outstanding revenue and earnings growth,” said Joseph F. Puishys, Apogee chief executive officer. “In our third quarter, all four segments had double-digit revenue growth, while all but one segment had strong earnings growth.”

“We are confident about the fourth quarter and have raised our outlook for the full year to earnings of $1.64 to $1.72 per share, from $1.62 to $1.72 per share,” said Puishys. “We continue to expect revenue growth of at least 20 percent for fiscal 2015.” Analyst estimates have current year EPS at $1.68.

Apogee Enterprises Inc traded at $44.04 in the aftermarket, up 0.01 percent.