08.01.2014 11:13:43
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AZZ Q3 Profit Rises - Quick Facts
(RTTNews) - AZZ inc. (AZZ), a global provider of electrical products and services and a provider of galvanizing services, reported that net income for the third quarter was $18.4 million, or $0.72 per share, up from $15.4 million, or $0.60 per share, in last year's third fiscal quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items.
But, Adjusted earnings for the quarter declined to $15.23 million or $0.59 per share from $16.28 million or $0.64 per share in the same quarter last year.
Revenues for the third quarter were $197.8 million compared to $149.7 million for the same quarter last year, an increase of 32.1 percent. Three analysts estimated revenues of $218.63 million for the quarter.
Tom Ferguson, president and chief executive officer of AZZ said, "While we are not satisfied with our third quarter fiscal 2014 performance, we continue to see progress in our assimilation efforts at WSI and NLI, and believe that fiscal 2015 offers numerous opportunities for growth in these businesses....... While we expect our markets to remain sluggish during the fourth quarter of fiscal 2014, we are confident of our opportunities in fiscal 2015 and beyond."
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