Apogee Enterprises Reports Fiscal 2020 Fourth Quarter and Full-Year Results and Provides Business Update

  • Fourth quarter earnings of $0.45 per diluted share and full-year EPS of $2.32, above prior guidance range
  • Significant backlog growth during the quarter
  • Strong cash flow, with $54 million of cash flow from operations in the quarter
  • Company receives commitment to extend maturity of term loan

Apogee Enterprises, Inc. (Nasdaq: APOG) today announced its fiscal 2020 fourth-quarter and full-year results and provided a business update.

Joseph F. Puishys, Chief Executive Officer said, "We had a strong fourth quarter, ending fiscal 2020 on a positive note, with earnings above our prior guidance range, strong order flow leading to record backlog levels, and cash flow from operations well above the prior year. We also made significant progress on key strategic initiatives, including our procurement savings program and other cost-savings actions, with line of sight to our $30 to $40 million annual savings target when fully implemented. We entered fiscal year 2021 with a solid foundation, good momentum in our business and a path to improved performance."

Mr. Puishys continued, "Even with this solid performance and encouraging momentum in our business, the events surrounding the COVID-19 outbreak that have happened since the quarter-end have become our primary focus. As a company, we are stepping up to this challenge. Our top priority is safeguarding the health and safety of our employees and their families, while we continue to serve our customers and ensure the long-term health of our business. We have a robust action plan in place to reduce the risk of infection in our facilities, minimize disruption to our operations and manage a rapidly changing environment. To this point, all of Apogee’s architectural segments continue to operate, ship product and meet our customer’s requirements, while our Large-Scale Optical segment is seeing a more significant reduction in near-term customer demand. The situation is evolving quickly and we are assessing the potential impact on our business and evaluating actions to react to changing market conditions. In light of this uncertainty, we are not providing annual guidance for fiscal 2021 at this time."

Mr. Puishys concluded, "As all of us come together to fight our way through the COVID-19 situation, we know there will be light ahead. We’re dealing with this period of uncertainty starting from a position of strength and I am confident that we have the resources to navigate through this environment. I am also confident that Apogee will emerge from this situation poised for future success."

Consolidated results

Fourth-quarter revenue was $337.1 million, compared to $346.3 million in the fourth quarter of fiscal year 2019. Earnings per diluted share were $0.45 in the fourth quarter, compared to a net loss of $(0.45) per share in the fourth quarter of fiscal 2019. Earnings in the fourth-quarter and the prior-year quarter included pre-tax charges for acquired project matters of $2.0 million and $42.6 million respectively. The prior-year quarter also included a pre-tax charge of $3.1 million for trade name impairment. Fourth quarter adjusted earnings, excluding the charges, were $0.51 per diluted share, compared to $0.85 in the prior-year period.

Full-year fiscal 2020 revenue was $1.38 billion, compared to $1.40 billion in the prior-year. Full-year earnings were $2.32 per diluted share, compared to $1.63 in fiscal 2019, with full-year adjusted earnings per share of $2.38, compared to $2.96 in fiscal 2019.

Segment Results

Architectural Framing Systems

  • Backlog increases 14 percent to $432 million

As forecasted, Architectural Framing Systems revenue in the fourth quarter declined to $153.2 million, from $170.6 million in the prior year period, primarily due to lower volumes. Operating income was $2.0 million, with operating margin of 1.3 percent, compared to $6.1 million and 3.6 percent respectively in the prior year quarter, reflecting lower revenue and the impact of operational difficulties that were identified in the third quarter, which have been addressed. Operating income in the prior-year quarter included a $3.1 million charge for a trade name impairment. Excluding this charge, adjusted operating income in the prior-year period was $9.5 million. Segment backlog increased by 14 percent to $432 million, compared to $378 million a quarter ago.

Architectural Glass

  • New small projects manufacturing facility fully operational

Architectural Glass revenue in the fourth quarter was $98.3 million, compared to $103.7 million in the prior year quarter, reflecting lower volumes driven by increased competition from foreign competitors leveraging the strength of the U.S. dollar. Operating income was $3.8 million and operating margin was 3.9 percent, in-line with our expectations, but down from $7.3 million and 7.1 percent respectively in last year’s fourth quarter, due to start-up costs related to the new manufacturing facility for the small projects growth initiative, higher insurance costs, and decreased volumes, partially offset by improved factory productivity.

Architectural Services

  • Backlog grows 9 percent in the fourth quarter, to record $660 million

Architectural Services continued to have strong order flow during the quarter, with segment backlog increasing by 9 percent to a record $660 million, from $607 million last quarter. The segment’s revenue grew to $73.4 million in the fourth quarter, up from $66.3 million in the prior-year quarter, on higher volumes driven by favorable project timing. Fourth-quarter operating income was $8.5 million with operating margin of 11.6 percent, compared to the record levels of $9.1 million and 13.7 percent respectively in the prior-year period. Operating income and margins in the prior-year quarter benefited from favorable project maturity as a number of projects came to completion.

Large-Scale Optical

  • Operating margin improves to 33 percent in the quarter

Large-Scale Optical revenue was $21.5 million, compared to $24.0 million in the fourth quarter last year, primarily due to lower U.S. retail sales. Operating income was $7.1 million and operating margin was 33.0 percent, compared to $7.2 million and 29.9 percent respectively in last year’s fourth quarter, reflecting good cost control and higher productivity, which offset the lower revenue.

Financial Condition

Net cash provided by operating activities in fiscal 2020 was $107.3 million, an increase of 11 percent compared to $96.4 million last year. Capital expenditures for the fiscal year were $51.4 million, compared to $60.7 million in fiscal 2019. In the fourth quarter, the company repurchased 155,000 shares of stock for $5.1 million. For the full-year, Apogee returned $43.9 million of cash to shareholders through dividend payments and share repurchases.

During the quarter, the company reduced its total debt by $33 million, to $218 million, compared to $251 million at the end of the third quarter, and down from $246 million at the end of fiscal 2019. Subsequent to the end of the quarter, the company received a commitment from its bank group to extend its $150 million term loan, which will move the maturity to April 2021 and is expected to close later this month.

Conference Call Information

The company will host a conference call today at 8:00 a.m. Central Time to discuss its financial results and provide a business update. This call will be webcast and is available in the Investor Relations section of the company’s website at https://www.apog.com/events-and-presentations. The webcast also will be archived for replay on the company’s website.

About Apogee Enterprises

Apogee Enterprises, Inc. (Nasdaq: APOG) delivers distinctive solutions for enclosing commercial buildings and framing art. Headquartered in Minneapolis, MN, we are a leader in architectural products and services, providing architectural glass, aluminum framing systems and installation services for buildings, as well as value-added glass and acrylic for custom picture framing and displays. For more information, visit www.apog.com.

Use of Non-GAAP Financial Measures

This release and other financial communications may contain the following non-GAAP measures:

  • Adjusted operating income, adjusted operating margin, adjusted net earnings and adjusted earnings per diluted share ("adjusted earnings per share" or "adjusted EPS") are used by the company to provide meaningful supplemental information about its operating performance by excluding amounts that are not considered part of core operating results to enhance comparability of results from period to period. Examples of items excluded to arrive at this adjusted measure include: the impact of acquisition-related costs, amortization of short-lived acquired intangibles associated with backlog, restructuring costs, non-cash goodwill and other intangible impairment costs, and acquired project-related charges.
  • Backlog represents the dollar amount of signed contracts or firm orders, generally as a result of a competitive bidding process, which is expected to be recognized as revenue. Backlog is not a term defined under U.S. GAAP and is not a measure of contract profitability. Backlog should not be used as the sole indicator of future segment revenue because we have a substantial amount of projects with short lead times that book-and-bill within the same reporting period and are not included in backlog. Free cash flow is defined as net cash provided by operating activities, minus capital expenditures. The company considers this measure an indication of its financial strength.
  • Adjusted EBITDA is equal to the sum of adjusted operating income depreciation and amortization expenses. We believe this metric provides useful information to investors and analysts about the Company's performance because it eliminates the effects of period-to-period changes in taxes, interest expense, and costs associated with capital investments and acquired companies.

Management uses these non-GAAP measures to evaluate the company’s historical and prospective financial performance, measure operational profitability on a consistent basis, and provide enhanced transparency to the investment community. These non-GAAP measures should be viewed in addition to, and not as a substitute for, the reported financial results of the company prepared in accordance with GAAP. Other companies may calculate these measures differently, limiting the usefulness of the measures for comparison with other companies.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect Apogee management’s expectations or beliefs as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified by factors that may affect the operating results of the company, including the following: (A) potential negative impact from pandemic health issues, such as the coronavirus / COVID-19, on our future financial results of operations, our future financial condition, and our ability to continue business activities in affected regions; (B) global economic conditions and the cyclical nature of the North American and Latin American commercial construction industries, which impact our three architectural segments, and consumer confidence and the conditions of the U.S. economy, which impact our large-scale optical segment; (C) fluctuations in foreign currency exchange rates; (D) actions of new and existing competitors; (E) ability to effectively utilize and increase production capacity; (F) loss of key personnel and inability to source sufficient labor; (G) product performance, reliability and quality issues; (H) project management and installation issues that could result in losses on individual contracts; (I) changes in consumer and customer preference, or architectural trends and building codes; (J) dependence on a relatively small number of customers in certain business segments; (K) revenue and operating results that could differ from market expectations; (L) self-insurance risk related to a material product liability or other event for which the company is liable; (M) dependence on information technology systems and information security threats; (N) cost of compliance with and changes in environmental regulations; (O) commodity price fluctuations, trade policy impacts, and supply availability; and (P) integration of recent acquisitions and management of acquired contracts. The company cautions investors that actual future results could differ materially from those described in the forward-looking statements, and that other factors may in the future prove to be important in affecting the company’s results of operations. New factors emerge from time to time and it is not possible for management to predict all such factors, nor can it assess the impact of each factor on the business or the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. More information concerning potential factors that could affect future financial results is included in the company’s Annual Report on Form 10-K for the fiscal year ended March 2, 2019 and in subsequent filings with the U.S. Securities and Exchange Commission.

Apogee Enterprises, Inc.

Consolidated Condensed Statements of Income

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen

Thirteen

 

 

Fifty-Two

Fifty-Two

 

 

 

Weeks Ended

Weeks Ended

 

 

Weeks Ended

Weeks Ended

 

In thousands, except per share amounts

 

February 29, 2020

March 2, 2019

% Change

 

February 29, 2020

March 2, 2019

% Change

Net sales

 

$

337,100

 

 

$

346,255

 

 

(3)%

 

$

1,387,439

 

 

$

1,402,637

 

 

(1)%

Cost of sales

 

259,625

 

301,976

 

(14)%

 

1,068,480

 

1,109,072

 

(4)%

Gross profit

 

77,475

 

44,279

 

75%

 

318,959

 

293,565

 

9%

Selling, general and administrative expenses

 

61,837

 

59,057

 

5%

 

231,111

 

226,281

 

2%

Operating income (loss)

 

15,638

 

(14,778

)

 

N/M

 

87,848

 

67,284

 

31%

Interest and other expense, net

 

1,520

 

2,368

 

(36)%

 

8,098

 

8,622

 

(6)%

Earnings (loss) before income taxes

 

14,118

 

(17,146

)

 

N/M

 

79,750

 

58,662

 

36%

Income tax expense (benefit)

 

2,160

 

(5,062

)

 

N/M

 

17,836

 

12,968

 

38%

Net earnings (loss)

 

$

11,958

 

 

$

(12,084

)

 

N/M

 

$

61,914

 

 

$

45,694

 

 

35%

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share - basic

 

$

0.45

 

 

$

(0.45

)

 

N/M

 

$

2.34

 

 

$

1.64

 

 

43%

Average common shares outstanding

 

26,454

 

27,117

 

(2)%

 

26,474

 

27,802

 

(5)%

Earnings (loss) per share - diluted

 

$

0.45

 

 

$

(0.45

)

 

N/M

 

$

2.32

 

 

$

1.63

 

 

42%

Average common and common equivalent shares outstanding

 

26,746

 

27,117

 

(1)%

 

26,729

 

28,082

 

(5)%

Cash dividends per common share

 

$

0.1875

 

 

$

0.1750

 

 

7%

 

$

0.7125

 

 

$

0.6475

 

 

10%

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Segment Information

(Unaudited)

 

 

Thirteen

Thirteen

 

 

Fifty-Two

Fifty-Two

 

 

 

Weeks Ended

Weeks Ended

 

 

Weeks Ended

Weeks Ended

 

In thousands

 

February 29, 2020

March 2, 2019

% Change

 

February 29, 2020

March 2, 2019

% Change

Sales

 

 

 

 

 

 

 

 

 

 

 

 

Architectural Framing Systems

 

$

153,164

 

 

$

170,636

 

 

(10)%

 

$

686,596

 

 

$

720,829

 

 

(5)%

Architectural Glass

 

98,329

 

103,670

 

(5)%

 

387,191

 

367,203

 

5%

Architectural Services

 

73,352

 

66,264

 

11%

 

269,140

 

286,314

 

(6)%

Large-Scale Optical

 

21,461

 

23,971

 

(10)%

 

87,911

 

88,493

 

(1)%

Eliminations

 

(9,206

)

 

(18,286

)

 

(50)%

 

(43,399

)

 

(60,202

)

 

(28)%

Total

 

$

337,100

 

 

$

346,255

 

 

(3)%

 

$

1,387,439

 

 

$

1,402,637

 

 

(1)%

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

Architectural Framing Systems

 

$

1,968

 

 

$

6,107

 

 

(68)%

 

$

36,110

 

 

$

49,660

 

 

(27)%

Architectural Glass

 

3,809

 

7,334

 

(48)%

 

20,760

 

16,503

 

26%

Architectural Services

 

8,500

 

9,074

 

(6)%

 

23,582

 

30,509

 

(23)%

Large-Scale Optical

 

7,081

 

7,158

 

(1)%

 

22,642

 

23,003

 

(2)%

Corporate and other

 

(5,720

)

 

(44,451

)

 

(87)%

 

(15,246

)

 

(52,391

)

 

(71)%

Total

 

$

15,638

 

 

$

(14,778

)

 

N/M

 

$

87,848

 

 

$

67,284

 

 

31%

Apogee Enterprises, Inc.

Consolidated Condensed Balance Sheets

(Unaudited)

In thousands

 

February 29, 2020

 

March 2, 2019

Assets

 

 

 

 

Current assets

 

$

381,910

 

 

$

371,898

 

Net property, plant and equipment

 

324,386

 

 

315,823

 

Other assets

 

422,695

 

 

380,447

 

Total assets

 

$

1,128,991

 

 

$

1,068,168

 

Liabilities and shareholders' equity

 

 

 

 

Current liabilities

 

$

271,457

 

 

$

227,512

 

Current debt

 

155,400

 

 

 

Long-term debt

 

62,500

 

 

245,724

 

Other liabilities

 

122,856

 

 

98,615

 

Shareholders' equity

 

516,778

 

 

496,317

 

Total liabilities and shareholders' equity

 

$

1,128,991

 

 

$

1,068,168

 

Consolidated Statement of Cash Flows

(Unaudited)

 

 

Fifty-Two

 

Fifty-Two

 

 

Weeks Ended

 

Weeks Ended

In thousands

 

February 29, 2020

 

March 2, 2019

Net earnings

 

$

61,914

 

 

$

45,694

 

Depreciation and amortization

 

46,795

 

 

49,798

 

Share-based compensation

 

6,607

 

 

6,286

 

Proceeds from new markets tax credit transaction, net of deferred costs

 

 

 

8,850

 

Other, net

 

8,341

 

 

(7,019

)

Changes in operating assets and liabilities

 

 

 

 

Receivables

 

(4,217

)

 

18,164

 

Inventories

 

7,142

 

 

5,114

 

Costs and earnings on contracts in excess of billings

 

(18,468

)

 

(48,712

)

Accounts payable and accrued expenses

 

(375

)

 

7,600

 

Billings in excess of costs and earnings on uncompleted contracts

 

11,314

 

 

9,026

 

Refundable and accrued income taxes

 

(8,726

)

 

3,680

 

Other, net

 

(3,065

)

 

(2,058

)

Net cash provided by operating activities

 

107,262

 

 

96,423

 

Capital expenditures

 

(51,428

)

 

(60,717

)

Proceeds on sale of property

 

5,307

 

 

12,333

 

Purchases of marketable securities

 

(7,012

)

 

(9,213

)

Sales/maturities of marketable securities

 

7,768

 

 

6,110

 

Other, net

 

(1,673

)

 

(2,209

)

Net cash used by investing activities

 

(47,038

)

 

(53,696

)

Borrowings on line of credit

 

229,000

 

 

363,000

 

Proceeds from issuance of term debt

 

150,000

 

 

 

Payments on line of credit

 

(406,500

)

 

(333,000

)

Repurchase and retirement of common stock

 

(25,140

)

 

(43,326

)

Dividends paid

 

(18,714

)

 

(17,864

)

Other, net

 

(3,160

)

 

(1,136

)

Net cash used by financing activities

 

(74,514

)

 

(32,326

)

(Decrease) increase in cash and cash equivalents

 

(14,290

)

 

10,401

 

Effect of exchange rates on cash

 

1

 

 

(519

)

Cash, cash equivalents and restricted cash at beginning of year

 

29,241

 

 

19,359

 

Cash, cash equivalents and restricted cash at end of year

 

$

14,952

 

 

$

29,241

 

Apogee Enterprises, Inc.

Reconciliation of Non-GAAP Financial Measures

(Unaudited)

Adjusted Net Earnings and Adjusted Earnings per Diluted Common Share

 

 

Thirteen

 

Thirteen

 

Fifty-Two

 

Fifty-Two

 

 

Weeks Ended

 

Weeks Ended

 

Weeks Ended

 

Weeks Ended

In thousands

 

February 29, 2020

 

March 2, 2019

 

February 29, 2020

 

March 2, 2019

Net earnings (loss)

 

$

11,958

 

 

$

(12,084

)

 

$

61,914

 

 

$

45,694

 

Cooperation agreement advisory costs

 

 

 

 

 

2,776

 

 

 

Acquired EFCO project matters

 

2,000

 

 

42,598

 

 

(635

)

 

40,948

 

Amortization of short-lived acquired intangibles

 

 

 

239

 

 

 

 

4,894

 

Impairment charge

 

 

 

3,141

 

 

 

 

3,141

 

Income tax impact on above adjustments

 

(306

)

 

(10,851

)

 

(478

)

 

(11,560

)

Adjusted net earnings

 

$

13,652

 

 

$

23,043

 

 

$

63,577

 

 

$

83,117

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen

 

Thirteen

 

Fifty-Two

 

Fifty-Two

 

 

Weeks Ended

 

Weeks Ended

 

Weeks Ended

 

Weeks Ended

 

 

February 29, 2020

 

March 2, 2019

 

February 29, 2020

 

March 2, 2019

Earnings (loss) per diluted common share

 

$

0.45

 

 

$

(0.45

)

 

$

2.32

 

 

$

1.63

 

Cooperation agreement advisory costs

 

 

 

 

 

0.10

 

 

 

Acquired EFCO project matters

 

0.07

 

 

1.57

 

 

(0.02

)

 

1.46

 

Amortization of short-lived acquired intangibles

 

 

 

0.01

 

 

 

 

0.17

 

Impairment charge

 

 

 

0.12

 

 

 

 

0.11

 

Income tax impact on above adjustments

 

(0.01

)

 

(0.40

)

 

(0.02

)

 

(0.41

)

Adjusted earnings per diluted common share

 

$

0.51

 

 

$

0.85

 

 

$

2.38

 

 

$

2.96

 

Adjusted Operating Income and Adjusted Operating Margin

 

 

 

 

 

Thirteen Weeks Ended February 29, 2020

 

 

Framing Systems Segment

 

Corporate

 

Consolidated

In thousands

 

Operating

income

 

Operating

margin

 

Operating loss

 

Operating

income

 

Operating

margin

Operating income (loss)

 

$

1,968

 

 

1.3

%

 

$

(5,720

)

 

$

15,638

 

 

4.6

%

Acquired EFCO project matters

 

 

 

 

 

2,000

 

 

2,000

 

 

0.6

 

Adjusted operating income (loss)

 

$

1,968

 

 

1.3

%

 

$

(3,720

)

 

$

17,638

 

 

5.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Thirteen Weeks Ended March 2, 2019

 

 

Framing Systems Segment

 

Corporate

 

Consolidated

In thousands

 

Operating

income

 

Operating

margin

 

Operating loss

 

Operating

income

 

Operating

margin

Operating income (loss)

 

$

6,107

 

 

3.6

%

 

$

(44,451

)

 

$

(14,778

)

 

(4.3

)%

Amortization of short-lived acquired intangibles

 

239

 

 

0.1

 

 

 

 

239

 

 

0.1

 

Acquired EFCO project matters

 

 

 

 

 

42,598

 

 

42,598

 

 

12.3

 

Impairment charge

 

3,141

 

 

1.8

 

 

 

 

3,141

 

 

0.9

 

Adjusted operating income (loss)

 

$

9,487

 

 

5.6

%

 

$

(1,853

)

 

$

31,200

 

 

9.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Fifty-two Weeks Ended February 29, 2020

 

 

Framing Systems Segment

 

Corporate

 

Consolidated

In thousands

 

Operating

income

 

Operating

margin

 

Operating loss

 

Operating

income

 

Operating

margin

Operating income (loss)

 

$

36,110

 

 

5.3

%

 

$

(15,246

)

 

$

87,848

 

 

6.3

%

Cooperation agreement advisory costs

 

 

 

 

 

2,776

 

 

2,776

 

 

0.2

 

Acquired EFCO project matters

 

 

 

 

 

(635

)

 

(635

)

 

 

Adjusted operating income (loss)

 

$

36,110

 

 

5.3

%

 

$

(13,105

)

 

$

89,989

 

 

6.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Fifty-two Weeks Ended March 2, 2019

 

 

Framing Systems Segment

 

Corporate

 

Consolidated

In thousands

 

Operating

income

 

Operating

margin

 

Operating loss

 

Operating

income

 

Operating

margin

Operating income (loss)

 

$

49,660

 

 

6.9

%

 

$

(52,391

)

 

$

67,284

 

 

4.8

%

Amortization of short-lived acquired intangibles

 

4,894

 

 

0.7

 

 

 

 

4,894

 

 

0.3

 

Acquired EFCO project matters

 

 

 

 

 

40,948

 

 

40,948

 

 

2.9

 

Impairment charge

 

3,141

 

 

0.4

 

 

 

 

3,141

 

 

0.2

 

Adjusted operating income (loss)

 

$

57,695

 

 

8.0

%

 

$

(11,443

)

 

$

116,267

 

 

8.3

%

EBITDA and Adjusted EBITDA

 

 

Thirteen

 

Thirteen

 

Fifty-Two

 

Fifty-Two

 

 

Weeks Ended

 

Weeks Ended

 

Weeks Ended

 

Weeks Ended

In thousands

 

February 29, 2020

 

March 2, 2019

 

February 29, 2020

 

March 2, 2019

Net earnings (loss)

 

$

11,958

 

 

$

(12,084

)

 

$

61,914

 

 

$

45,694

 

Income tax expense (benefit)

 

2,160

 

 

(5,062

)

 

17,836

 

 

12,968

 

Interest and other expense, net

 

1,520

 

 

2,368

 

 

8,098

 

 

8,622

 

Depreciation and amortization

 

12,114

 

 

11,420

 

 

46,795

 

 

49,798

 

EBITDA

 

$

27,752

 

 

$

(3,358

)

 

$

134,643

 

 

$

117,082

 

Cooperation agreement advisory costs

 

 

 

 

 

2,776

 

 

 

Acquired EFCO project matters

 

2,000

 

 

42,598

 

 

(635

)

 

40,948

 

Impairment charge

 

 

 

3,141

 

 

 

 

3,141

 

Adjusted EBITDA

 

$

29,752

 

 

$

42,381

 

 

$

136,784

 

 

$

161,171

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20200402005086/en/

Contacts

Jeff Huebschen
Vice President, Investor Relations & Communications
952.487.7538
ir@apog.com

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