Apogee full-year earnings from continuing operations increase

Apogee Enterprises Inc., Minneapolis, announced fiscal 2009 fourth quarter and full-year earnings April 6. Apogee provides distinctive value-added glass solutions for the architectural and picture framing industries.

FY09 full year highlights 

• Revenues were a record $925.5 million, an increase of 5 percent compared to the prior year.
• Earnings from continuing operations were a record $1.82 per share, up 22 percent from earnings of $1.49 per share a year ago.
  • Operating margin was 8.4 percent, compared to 7.5 percent the prior year.
• Architectural segment revenues were up 7 percent, and operating income grew 21 percent compared to the prior year.
  • Operating margin was 7.6 percent, up from 6.7 percent the prior year.
• Large-scale optical segment revenues declined 14 percent, while operating income increased 10 percent versus the prior year.
• Net earnings were $1.81 per share, compared to $1.67 per share last year.
  • Fiscal 2008 earnings from discontinued operations of $0.18 per share were related to Apogee's exit from the auto glass segment.

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