Apogee Revenue Increases in Second
Quarter, Operating Income Down
pogee Enterprises Inc.’s 2018 have grown consistently and operating
Segment backlog grew $240 million
second-quarter results in- margins have been the strongest among to $495.9 million from the 2018 ﬁrst
cluded a 24-percent increase in our architectural segments. In the sec- quarter backlog level, including $216
revenues to $343.9 million compared ond quarter,this segment drove our rev- million from the acquisition of EFCO.
to the prior year period. Its operating enue growth and more importantly, our
income of $27.8 million was down 16 existing framing systems businesses . . . ArchitecturAl glAss
percent before adjustments versus the excluding our two recent acquisitions
Revenues of $97.4 million were
. . . delivered double-digit top- and bot- down 2 percent, as “double-digit mid-
size project growth was somewhat
offset by the timing of larger projects,”
according to the report. Operating in-
same time a year ago.
Adjusted operating income of $34.1 tom-line growth in the quarter.
million was up 3 percent versus the pri-
or-year period, according to the report. ArchitecturAl FrAming
Operating margin was 8.1 percent, or
Revenues of $189.0 million were up come was $10.3 million, up 7 percent.
percent in the previous-year period.Net Sotawall and EFCO,revenues increased ArchitecturAl services
interest expense increased $1.6 million 17 percent. Operating income grew to
.9 percent adjusted, compared to 11.9 105 percent; excluding the addition of
Revenues of $46.8 million were down
versus the same time a year ago, as debt $16.5 million, up 27 percent; adjusted 40 percent, compared to the strong pri-
was incurred for acquisitions.
operating income of $19.2 million was or-year period. Operating income was
“Our architectural framing systems up 47 percent. Operating margin was $0.8 million, down 88 percent. Operat-
segment, now our largest segment at 8.7 percent, or 10.1 percent adjusted, ing margin was 1.7 percent, compared
more than 50 percent of revenues, is compared to 14.1 percent. Operating to 8 percent,due to“lower volume lever-
central to our strategy to deliver more margins for existing businesses were age on project management, engineer-
stable future revenue streams and up substantially, offset by a lower oper- ing and manufacturing capacity,” the
earnings,” says Joseph F. Puishys,chief ating margin at EFCO and a signiﬁcant report reads.Segment backlog grew $30
executive ofﬁcer.“During this cycle, ar- foreign exchange loss at the Canadian million to $323 million from the ﬁscal
chitectural framing systems revenues curtainwall business.
2018 ﬁrst-quarter backlog level. n
Business Segment Information
(Unaudited) (In Thousands)
September 2, Change
September 2, Change
Operating income (loss)
USGlass, Metal & Glazing | November 2017