AZZ Profit Rises On Higher Revenue, Favorable Tax Rate

(RTTNews) - Electrical equipment maker and engineering services provider AZZ Inc (AZZ) on Wednesday reported fourth-quarter net earnings of $16.3 million or $0.63 per share compared with $10.2 million or $0.40 per share last year.

Revenues for the quarter were marginally higher at $182.3 million compared with $181 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.59 per share on revenues of $190.2 million for the quarter. Analysts' estimates typically exclude special items.

The company said earnings were helped by a favorable effective tax rate of 14.5% compared with 39% in the the prior year.