AZZ Declares Dividend; Issues FY15 Forecast - Quick Facts

(RTTNews) - AZZ incorporated (AZZ), a provider of electrical products and services, and galvanizing services, announced Friday that its Board of Directors, at its regularly scheduled meeting, has declared a quarterly cash dividend of 14 cents per share, payable on February 14 to shareholders of record on January 31.

The company also issued its forecast for the year ending February 28, 2015, expecting earnings within the range of $2.40 and $2.80 per share, and revenues within the range of $850 to $900 million.

On average, four analysts polled by Thomson Reuters expect earnings of $2.71 per share on revenues of $828.49 million for the year. Analysts' estimates typically exclude special items.

AZZ President and Chief Executive Officer Tom Ferguson stated that the company expects revenues for the Electrical and Industrial Products and Services Segment to increase as a result of organic growth and the full year impact of WSI operating results. For the year, margins in that segment should be in the range of 11 to 13 percent.

The Galvanizing Services Segment revenues are projected to be up due primarily to market share improvement, while margins are expected to remain strong, and be in the range of 26 to 28 percent.

The company expects that 41 percent of revenues will be derived from the Galvanizing Services Segment and 59 percent from the Electrical and Industrial Products and Services Segment.

Ferguson said, "We are continuing our efforts to seek out growth and expansion opportunities for both electrical and galvanizing segments. The strength of our balance sheet and cash position fully supports this strategy. The Company is well positioned to capitalize on improving market conditions, in both segments."