Apogee Enterprises, Inc.: Quarterly report
Apogee Enterprises reported revenue and operating income growth in the second quarter, supported by pricing, mix, and the Kalwall acquisition.
Positive for the companyWhat the numbers say
Revenue rose 9.2% to $391.1M versus the same quarter last year (14% up on the previous quarter); operating margin widened from 7.5% to 8.6%; diluted EPS $1.07 versus $1.10; cash rose by $10.1M to $36.5M while debt rose by $98.1M; diluted share count down 3.2% (buybacks).
What happened
- Consolidated net sales grew 9.2% to $391.1 million in the second quarter, aided by a $16.4 million sales contribution from the newly acquired Kalwall business.
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