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Wednesday, December 2, 2020
News AZZ reports 2Q results

AZZ reports 2Q results

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

  A. Lee Graham Reporter   AZZ Inc. of Fort Worth has reported 24-percent higher revenue in second-quarter 2013 compared to the same quarter last year as the electrical products maker declares a quarterly cash dividend of 14 cents per share payable on Oct. 25, 2013 to shareholders of record as of Oct. 11, 2013.   In its newly released quarterly financial performance report, the electrical products maker reported revenues for the quarter at $189.8 million compared to $153.4 million in the same quarter last year.   “Despite the continued sluggish economic conditions in our served markets, combined with significant project delays, we anticipate that the net earnings for fiscal 2014 will reflect an improvement over fiscal 2013,” said president and CEO David H. Dingus, commenting in a news release.   With the acquisitions of WSI and NLI, Dingus said his company will capture benefits from maintenance spending on existing infrastructure required in the power generation, oil and gas, and industrial markets.   “Our businesses are well positioned to capture a meaningful share of this spending, which we expect to occur in fiscal 2015,” Dingus said.   Other second-quarter results saw the company earn net income of $16.4 million, or 64 cents per diluted share, compared to $15.9 million, or 62 cents in the previous year’s second quarter. For the first six months of 2013, the company reported revenues of $373 million compared to $280.5 million compared to the same period last year, representing a 33-percent increase.   AZZ Inc., a specialty electrical equipment manufacturer, also provides galvanizing services to the U.S. steel fabrication market. More information is available at www.azz.com.   lgraham@bizpress.net            



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