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News AZZ reports 4Q

AZZ reports 4Q

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Robert Francis
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 lgraham@bizpress.net   AZZ Inc. of Fort Worth has reported 14-percent higher revenue in fourth-quarter 2013 compared to the same quarter a year earlier as the electrical products maker declares a quarterly cash dividend of 14 cents per share payable on May 3, 2013 to shareholders of record as of April 19, 2013. In its newly released financial performance report, the electrical products maker reported revenues for the quarter at $140.4 million compared to $123.6 million in the same quarter a year earlier. “We are extremely proud of our accomplishments for the year, both strategically and operationally,” said president and CEO David H. Dingus, commenting in a news release. “We believe AZZ is well positioned for the future, with a balanced portfolio of products and services, as well as a strong balance sheet with superior earnings potential,” Dingus said. Other fourth-quarter results saw the company earn net income of $13.2 million, or 52 cents per diluted share, compared to $11.6 million, or 46 cents in the previous year’s fourth quarter. For fiscal year 2013, the company reported revenues of $570.6 million compared to $469.1 million compared to the previous year, representing a 22-percent increase. Net income for fiscal 2013 reached $60.5 million, or $2.37 per diluted share, compared to $40.7 million, or $1.61 per diluted share in the previous year. The figures reflect a pre-tax gain of about $9.1 million related to a partial insurance settlement for assets destroyed in a fire at one of the company’s galvanizing facilities. 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.      

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