Apogee Reports Improved Third-Quarter Results

FY14 THIRD QUARTER VS. PRIOR-YEAR PERIOD

COMMENTARY Apogee recorded another solid quarter, with growth in revenues and earnings per share, and positive free cash flow, said Joseph F. Puishys, Apogee chief executive officer. At the same time, we used cash to acquire a leader in the Canadian storefront and entrance market with approximately C$60 million in annual revenues, supporting our growth strategies that include a focus on new international geographies and new product introductions.

Revenues were up 5 percent in the quarter, and all segments have grown year to date, he said. Weve maintained our backlog level, and more importantly, are seeing growth in our pipeline of project commitments and awards, as well as continued strong bidding activity as our markets begin to improve.

Our operating income growth of 11 percent was driven by improved mix and productivity in the Architectural Glass segment, and increasing margins and good project execution in the Architectural Services segment, which returned to profitability, said Puishys. In addition, the Architectural Framing Systems segment earnings increased slightly as it absorbed acquisition integration costs. In the Large-Scale Optical segment, a good mix was offset by promotional activities and some increased manufacturing costs.

FY14 THIRD-QUARTER SEGMENT AND OPERATING RESULTS VS. PRIOR-YEAR PERIOD Architectural Glass

Architectural Services

Architectural Framing Systems

Large-Scale Optical Technologies

Consolidated Backlog

Financial Condition

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Apogee Reports Improved Third-Quarter Results