Apogee reports revenue growth, says its seeing "good bidding activity at improved margins"
Apogee Enterprises--parent company of Viracon, Harmon, Wausau Window & Wall Systems, Linetec and Tubelite--saw double-digit revenue growth for the 2012 fiscal year, largely due to gains in its architectural segment.
"I was most pleased with the increase in our architectural segment backlog to $242 million, giving us a strong position as we enter fiscal 2013,” said Joseph Puishys, Apogee CEO, in a release.
In the FY12 fourth quarter, architectural products and services revenues of $147.4 million were up 15 percent. Growth resulted from improved architectural glass pricing and project mix, and market share gains in the window and storefront businesses, according to Apogee officials.
“We expect continued revenue and earnings growth for Apogee in fiscal 2013, as our architectural business continues to gain market share,” Puishys said, in the release. “We are anticipating mid-single-digit revenue growth for fiscal 2013, in part coming from continued U.S. geographic expansion in our installation and storefront businesses,” he said.
“We have a solid architectural backlog starting the year and are experiencing good bidding activity at improved margins,” he added. ”Also, our second half should be better than the first half of fiscal 2013 due to an expected first-quarter gap in project flow and improvement in commercial construction market conditions occurring in the second half.“