FY13 SECOND-QUARTER SEGMENT AND OPERATING RESULTS VS. PRIOR-YEAR PERIOD
Architectural Products and Services
- Revenues of $156.4 million were up 5 percent, as a result of share gains in the installation and storefront businesses.
Operating income was $3.0 million, compared to a loss of $5.1 million.
- Results improved from the prior-year period, with higher architectural glass pricing and the impact from storefront and installation volume growth and good operational performance throughout the segment.
Backlog was $299.0 million, compared to $267.3 million in the first
quarter and $227.0 million in the prior-year period.
- Approximately $166 million, or 56 percent, of the backlog is expected to be delivered in fiscal 2013, and approximately $133 million, or 44 percent, in fiscal 2014.
Large-Scale Optical Technologies
- Revenues of $19.6 million were up 19 percent.
Operating income was $5.2 million, compared to $3.5 million.
- Operating margin was 26.5 percent, compared to 21.4 percent.
- Significant improvement in revenues and operating income resulted from a better mix of higher value-added glass and acrylic across all picture framing sectors.
Long-term debt was $30.8 million, compared to $20.9 million at the end
of fiscal 2012.
- Long-term debt includes $30.4 million in long-term, low-interest industrial revenue and recovery zone facility bonds.
- Cash and short-term investments totaled $68.3 million, compared to $79.3 million at the end of fiscal 2012 and $45.3 million in the prior-year period.
- Non-cash working capital was $57.4 million, compared to $44.4 million at the end of fiscal 2012 and $68.2 million in the prior-year period.
- Capital expenditures year to date were $15.7 million for productivity and growth investments. This compares to $3.6 million in the prior-year period.
- Depreciation and amortization year to date was $13.1 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV