FinancialFlash  
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  
A
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.  
9
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)  
Thirteen  
Weeks Ended  
August 27,  
Thirteen  
Weeks Ended  
September 2, Change  
2017  
Twenty-six  
Twenty-six  
Weeks Ended  
September 2, Change  
2017  
%
Weeks Ended  
August 27,  
2016  
%
2016  
Sales  
Architectural  
Framing Systems  
$92,229  
$189,023  
105%  
$173,362  
$299,515  
73%  
Architectural Glass  
99,205  
77,734  
97,351  
46,829  
(2)%  
192,565  
140,554  
195,086  
96,979  
1%  
Architectural Services  
Operating income (loss)  
(40)%  
(31)%  
Architectural  
Framing Systems  
$13,001  
$16,542  
27%  
$23,232  
$28,506  
23%  
Architectural Glass  
9,616  
6,236  
10,258  
774  
7%  
19,147  
9,418  
19,581  
1,555  
2%  
Architectural Services  
(88)%  
(83)%  
26  
USGlass, Metal & Glazing | November 2017  
www.usglassmag.com  

USGlass
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