Volume 50, Issue 8 - August 2015

IndustryNews

people news
NFRC CEO Jim Benney
is Latest Departure
from Organization


Jim Benney, who served as CEO of the National Fenestration Rating Council (NFRC) since 2003, has left the organization, according to a statement from the NFRC’s board of directors. He’s the third veteran staffer to leave NFRC in recent months.

Chief operating officer Deb Callahan will serve as interim CEO while the board searches for Benney’s replacement. Callahan has been with NFRC since 2005, originally serving as deputy executive director before assuming her current role as COO in 2010.

“We wish Jim the very best in the future and thank him for his service to the organization,” said NFRC board chairman Jeff Baker. “We are confident that Deb will provide excellent leadership to NFRC during this time of transition.”

Benney’s exit comes on the heels of two recent departures of veteran NFRC staffers.

In May, Ray McGowan, who had served as senior program manager with the organization since 2004, joined the National Environmental Balancing Bureau (NEBB) as director of certification.

In June, Cheryl Gendron, the NFRC’s longtime meetings manager and outreach associate, also joined NEBB. She’ll serve as director of communications and events for NEBB, which is described on its website as “the premier international certification association for firms that deliver high performance building systems.” The NEBB was founded in 1971 and is headquartered in Gaithersburg, Md. It has 27 chapters in the U.S., Canada and Australia.


financial news
Apogee Off to “Strong Start” in Fiscal Year

Apogee Enterprises reported its first-quarter revenues were $240 million this year, up 14 percent from the same period last year. Operating income, according to the company, was $18.2 million (up 133 percent), and its backlog of $470.8 million was up 22 percent.

The company’s architectural glass segment, consisting of Viracon, pulled in revenues of $101.2 million, up 27 percent, “on strong volume with increased pricing and improved mix,” according to Apogee. Operating income grew to $8.3 million, compared to $2.8 million, and operating margin expanded 470 basis points to 8.2 percent, compared to 3.5 percent the year before.

“The segment benefitted from operating leverage on volume growth, improved pricing and productivity in the United States, and successfully ramping up the Utah facility,” reads the release.
Revenues in the architectural services segment, consisting of Harmon Inc., were $55.7 million, up 8 percent. Operating income was $0.9 million, compared to $0.2 million.

Apogee’s architectural framing systems segment saw revenues of $71.9 million (up 12 percent), with growth across all U.S. businesses. The segment includes Wausau Window and Wall Systems, Tubelite, Alumicor and Linetec. Operating income grew to $5.3 million, compared to $1.9 million.

“Our backlog has declined slightly from year end as we added capacity and improved productivity in architectural glass to drive shorter lead times for customers, which has resulted in a faster backlog turn in that segment,” says Joseph F. Puishys, Apogee CEO. “Backlog did grow sequentially in the other three segments, and our backlog, visibility from commitments and strong end markets position us to deliver on our growth outlook for this year and beyond.”

He adds, “We expect to surpass $1 billion in revenues in fiscal 2016 and to achieve a trailing 12-month operating margin of 10 percent midway through fiscal 2017. Longer term, our outlook is for
revenues of $1.3 billion at 12 percent operating margin in fiscal 2018.”

Apogee’s Business Segments Information, FY2016 Q1Report
(Unaudited) (in millions)
  13 Weeks Ended
May 30, ’15
13 weeks ended
May 31, ’14
% Change
Sales
Architectural Glass $101.175 $79.634 27%
Architectural Services 55.652 51.616 8%
Architectural Framing Systems 71.900 64.222 12%
Large-Scale Optical 20.219 20.061 1%
Operating Income
Architectural Glass $8.283 $2.800 196%
Architectural Services 942 184 412%
Architectural Framing Systems 5.261 1.931 172%
Architectural Framing Systems 4.870 3.964 23%

company news
Anaheim Glass Shop
Credits Relationships for
70 Years in Business

A third-generation Southern California glass shop celebrated its 70th anniversary last month.

Entrepreneur Nick Wingert opened Anaheim Glass on July 5, 1945. The company, which sells a range of glass and glass-related products and services for the commercial, residential and automotive sectors, has remained at its original location in the heart of the Anaheim Colony Historic District.

“I’ve seen a lot of changes in Downtown Anaheim over the years. More recently, the renovation of the Packing House down the street and even some new condos being built next door,” says Jim Wingert, son of Nick Wingert. “It’s humbling to know that in this historical district, my father, my son and I have created a history of our own, in a place we call home.”

Owner Greg Wingert, grandson of first owner Nick Wingert, thanks the “devoted clientele for Anaheim Glass’ continued success,” and says he believes relationships are of utmost importance to the company.

During the Great Recession, for example, Anaheim Glass pushed through by merging operations with Brundige Glass, a 45-year-old family-owned business in Orange County.

“We’re going to continue to focus on relationships. It’s what made us successful from day one,” says Greg Wingert. “Grandpa Nick used to drive up and down Anaheim Boulevard with a pot of coffee for his clients trying to generate more business for the auto glass and parts that were being sold at that time. Even today, people come in saying ‘I used to buy glass for my ‘55 Ford here from your grandfather back in the late ‘60s.’ It is a great feeling. It’s relationships. That’s what Anaheim Glass is all about, the people in this community who have kept us alive for 70 years now.”

USG
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