FinancialFlash  
Apogee Records Revenue  
of Nearly $1 Billion iennues a2t 100perc1ent6operating margin,says Joseph F. Puishys,  
pogee Enterprises Inc. reported $981.2 million in rev-  
enue for fiscal year 2016, capped off by a strong fourth Apogee CEO.  
A
quarter of $262.1 million.Revenues for the quarter were  
Here’s the revenue breakdown for glass industry segments:  
Architectural Glass (Viracon): Revenues of $98.6 mil-  
lion were up 7 percent due to U.S. volume growth and im-  
We did what we said we would do three years ago, essen- proved pricing, according to the company. In constant  
up 6 percent, with a 5-percent increase for the year, while the  
company’s backlog of $508.0 million was up 4 percent.  
tially delivering on our fiscal 2016 goals of $1 billion in rev- currency, revenues were up 10 percent. Operating income  
Apogee Business Segments Information (unaudited; dollar amount in thousands)  
1
3 Weeks  
13 Weeks  
52 Weeks  
52 Weeks  
Ended  
Ended  
% Change  
Ended  
Ended  
% Change  
2
/27/16  
2/28/15  
2/27/16  
2/28/15  
Sales  
Architectural Glass  
$98,644  
$76,842  
$79,603  
$92,333  
$63,504  
$77,026  
7%  
21%  
3%  
$377,713  
$245,935  
$308,593  
$346,471  
$230,650  
$298,395  
9%  
7%  
3%  
Architectural Services  
Architectural Framing Systems  
Operating Income (loss)  
Architectural Glass  
$12,099  
$5,624  
$7,714  
$4,496  
$5,163  
$4,834  
169%  
9%  
$35,504  
$11,687  
$31,911  
$16,431  
$7,442  
116%  
57%  
Architectural Services  
Architectural Framing Systems  
$60%  
$21,808  
46%  
irPst-qPuaGrter’s201G6 gllaasssssegmSenat nleet ssaleDs foor PwPG nIn- Sculriregnchy ttralnyslatiionn, aFndilorwsertsaQlesusteamrmitngefrrom the  
dustries were $261 million, down $6 million, or 2 per- sale of a flat glass manufacturing facility, partially offset by  
cent, versus the prior-year period. Company-wide, net improved selling prices. Flat glass industry demand re-  
F
sales were $3.7 billion, consistent with the prior year.  
mained solid, but PPG sales volumes declined primarily due  
According to the company, the decrease in glass segment to a scheduled facility outage.”  
sales was due to “lower sales volumes, unfavorable foreign  
Overall, the company’s first quarter 2016 saw net income  
PPG Consolidat(eundaBuduitseidn; e$sinsmSielligonms)ent Information  
of $347 million. Adjusted net income was $351 million,  
which excludes after-tax charges totaling $4 million for  
transaction-related costs and a non-recurring charge. The  
adjusted effective tax rate for the quarter was 25 percent.  
First quarter 2015 reported net income was $321 mil-  
lion. Adjusted net income from continuing operations was  
3
Months Ended March 31  
2016  
2015  
Net sales  
Performance Coatings  
Glass  
$2,039  
$261  
$2,055  
$267  
$
327 million, including an after-tax charge for transaction-  
related costs of $6 million.  
Segment income  
Performance Coatings  
Glass  
PPG’s performance coatings segment first-quarter net  
sales were $2.04 billion, down $16 million, or less than one  
percent, versus the prior-year period.  
$279  
$28  
$262  
$30  
24  
USGlass, Metal & Glazing | June 2016  
www.usglassmag.com  
Raybar  
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grew to $12.1 million,up 169 percent from $4.5 million.Op-  
erating margin expanded 740 basis points to 12.3 percent,  
compared to 4.9 percent.  
to come  
Architectural Services (Harmon Inc.): Revenues of $76.8  
million were up 21 percent, due to what Apogee says was  
strong project activity during the quarter.Operating income  
grew to $5.6 million, up 9 percent from $5.2 million. Oper-  
ating margin was 7.3 percent, compared to 8.1 percent.  
Architectural Framing Systems (Wausau Window and Wall  
Systems, Tubelite,Alumicor, Linetec): Revenues of $79.6 mil-  
lion were up 3 percent on U.S. volume growth and improved  
mix,according to the company.In constant currency,revenues  
were up 5 percent.Operating income grew to $7.7 million,up  
6
basis points to 9.7 percent, compared to 6.3 percent. s  
0 percent from $4.8 million.Operating margin expanded 340  
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June 2016 | USGlass, Metal & Glazing  
25