AZZ Inc. Q2 Net Income Increases; Reaffirms FY16 Guidance - Quick Facts

(RTTNews) - AZZ Inc. (AZZ) reported second-quarter net income of $17.2 million, or $0.67 per share, compared to $13.8 million, or $0.53 per share, last year. In the second quarter of fiscal 2016 AZZ recorded $0.4 million in net realignment charges compared to operational charges of $5.2 million for certain cost overruns and $2.8 million of realignment charges in the second quarter of prior year.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.68 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $214.2 million compared to $193.4 million, last year, an increase of 10.8%. Analysts expected revenue of $217.86 million for the quarter.

The company maintained its guidance for fiscal 2016 EPS in the range of $2.85 to $3.30 and revenues in the range of $900 million to $940 million. Analysts expect the company to report earnings per share of $3.06 on revenue of $916.18 million.

AZZ also announced that its Board has authorized a quarterly cash dividend in the amount of $0.15 per share on the company's outstanding shares of common stock. The dividend is payable on October 26, 2015, to shareholders of record as of the close of business on October 12, 2015.