Apogee Enterprises (APOG) was falling Thursday after fiscal fourth-quarter earnings failed to meet expectations.
The company, which specializes in architectural glass and metal products, posted adjusted earnings per share of 85 cents. That's below the 96 cents in earnings for the same period the year prior and forecasts such as Zacks Consensus Estimate of 91 cents.
The news sent the Nasdaq-listed company down nearly 9% to $35.35.
Revenue for the quarter lagged as well at $346.3 million - compared to $353.5 million for the same quarter in fiscal 2018 - but for the year it was up by 5.8% to $1.40 billion. Full-year adjusted earnings per share hit $2.96, down from $3.23 in fiscal 2018.
"Unfortunately, our fourth-quarter results were negatively impacted by unusually severe winter weather, which caused disruptions at some of our manufacturing locations," said Joseph F. Puishys, chief executive, in a statement.
Some of the problems were also blamed on "legacy" projects left over from the company's 2017 purchase of window company EFCO.
Despite those woes, said Puishys, Apogee saw demand stay strong in U.S. architectural markets, which drove up income for the company's architectural services business. The company makes various products such as aluminum frames for windows, curtainwalls and storefront systems, as well as special glass coatings.
"Overall, we're optimistic about Apogee's outlook," said Puishys. "In fiscal 2020, we expect improved revenue and operating margins in both of our core architectural glass and framing systems segments."
For the next year, Apogee forecast revenue growth of 1% to 3%, and earnings per share of $3 to $3.20.