Apogee Q2 Results Top Estimates; Boosts FY15 Outlook

(RTTNews) - Apogee Enterprises, Inc. (APOG) reported net income for the second quarter of $16.8 million or $0.57 per share, compared to $6.1 million or $0.21 per share for the year-ago quarter.

Excluding a $0.22 per share tax credit, adjusted earnings per share for the latest quarter were $0.35.

Net sales for the second quarter rose 30% to $231.95 million from $178.29 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.34 per share on revenue of $217.88 million for the second quarter. Analysts' estimates typically exclude special items.

For fiscal 2015, the company raised its outlook for revenue growth to about 20%, from 15% to 20%, and raised its earnings per share outlook to $1.62 to $1.72 to reflect the $0.22 tax credit it earned in the second quarter. Analysts currently expect the company to earn $1.44 per share on revenue growth of 16.90%.