Apogee (APOG) Tops Q2 EPS View; Expects FY10 Revenues To Be Down
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Apogee (Nasdaq: APOG) reports Q2 EPS of $0.46 adjusted versus the analyst estimate of $0.24. Revenue for the quarter was $187.4 million, which compares to the estimate of $186.29 million.
For FY10, it expects a mid-single digit operating margin on revenues that we anticipate will be down 20 to 25 percent as project timing for new orders has shifted into fiscal 2011. We had previously anticipated fiscal 2010 revenues would decline at least 15 percent." He added that the large-scale optical segment is expected to continue converting customers to higher value-added products.
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