Apogee Enterprises, Inc. (Nasdaq:APOG) today announced fiscal 2011 full-year and fourth-quarter results. Apogee provides distinctive value-added glass solutions for the architectural and picture framing industries.
FY11 FULL YEAR VS. PRIOR-YEAR PERIOD
* Revenues of $582.8 million were down 16 percent.
* Operating loss was $21.0 million, compared to earnings of $45.4 million.
* Per share loss from continuing operations was $0.51, versus earnings of $1.13.
* Architectural segment revenues declined 19 percent, while there was an operating loss of $37.7 million compared to earnings of $31.6 million.
* Large-scale optical segment revenues increased 7 percent, and operating income was $20.5 million.
* Net loss was $0.37 per share, compared to net earnings of $1.15 per share. o Discontinued operations provided net earnings from resolution of outstanding exposures related to foreign operations discontinued in 1998.
* Cash and short-term investments totaled $60.6 million, compared to $46.4 million at the end of the third quarter, and $102.6 million at the end of fiscal 2010. o Brazilian architectural glass fabricator was acquired for approximately $21 million in cash in the third quarter.
FY11 FULL YEAR VS. PRIOR-YEAR PERIOD
* Revenues of $582.8 million were down 16 percent.
* Operating loss was $21.0 million, compared to earnings of $45.4 million.
* Per share loss from continuing operations was $0.51, versus earnings of $1.13.
* Architectural segment revenues declined 19 percent, while there was an operating loss of $37.7 million compared to earnings of $31.6 million.
* Large-scale optical segment revenues increased 7 percent, and operating income was $20.5 million.
* Net loss was $0.37 per share, compared to net earnings of $1.15 per share. o Discontinued operations provided net earnings from resolution of outstanding exposures related to foreign operations discontinued in 1998.
* Cash and short-term investments totaled $60.6 million, compared to $46.4 million at the end of the third quarter, and $102.6 million at the end of fiscal 2010. o Brazilian architectural glass fabricator was acquired for approximately $21 million in cash in the third quarter.
