FORT WORTH, Texas, Jan. 17, 2014 /PRNewswire/ -- AZZ
incorporated (NYSE: AZZ), a global provider of electrical products
and services and a provider of galvanizing services, today
announced the Board of Directors, at its regularly scheduled
meeting, has declared a quarterly cash dividend of 14 cents per share payable on February 14, 2014 to shareholders of record on
January 31, 2014.
The Company is issuing revenue and earnings guidance for fiscal
year 2015. Fiscal Year 2015 refers to the 12 month period
beginning March 1, 2014 and ending on
February 28, 2015.
Tom E. Ferguson, president and
chief executive officer of AZZ incorporated, stated, "Based upon
the evaluation of information currently available to management, we
are projecting our fiscal 2015 earnings to be within the range of
$2.40 and $2.80 per diluted share, and revenues are
estimated to be within the range of $850 to
$900 million. We continue to build upon the success we have
been able to achieve over the past decade, and continually strive
to further enhance the performance of the Company. Revenues for the
Electrical and Industrial Products and Services Segment are
projected to increase as a result of organic growth and the full
year impact of WSI operating results. Margins in the
Electrical and Industrial Products and Services Segment should be
in the range of 11 to 13 percent. The Galvanizing Services Segment
revenues are projected to be up due primarily to market share
improvement. Margins for the Galvanizing Services Segment
should remain strong, and should be in the range of 26 to 28
percent. It is anticipated that 41 percent of our revenues
will be derived from the Galvanizing Services Segment and 59
percent from the Electrical and Industrial Products and Services
Segment. Further information is provided in our Form 8-K to
be filed on January 17,
2014."
Mr. Ferguson continued, "Our next, regularly scheduled quarterly
conference call will be April 2014,
where we will be reporting the operating results for our fourth
quarter and 2014 fiscal year and a discussion of our fiscal year
2015 guidance. We are continuing our efforts to seek out
growth and expansion opportunities for both electrical and
galvanizing segments. The strength of our balance sheet and
cash position fully supports this strategy. The Company is
well positioned to capitalize on improving market conditions, in
both segments."
AZZ incorporated is a global provider of specialty electrical
equipment and highly engineered services to the power generation,
transmission, distributions, and industrial markets as well as a
leading provider of hot dip galvanizing services to the North
American steel fabrication market.
Certain statements herein about our expectations of
future events or results constitute forward-looking statements for
purposes of the safe harbor provisions of The Private Securities
Litigation Reform Act of 1995. You can identify forward-looking
statements by terminology such as, "may," "should," "expects,"
"plans," "anticipates," "believes," "estimates," "predicts,"
"potential," "continue," or the negative of these terms or other
comparable terminology. Such forward-looking statements are based
on currently available competitive, financial and economic data and
management's views and assumptions regarding future events. Such
forward-looking statements are inherently uncertain, and investors
must recognize that actual results may differ from those expressed
or implied in the forward-looking statements. This release may
contain forward-looking statements that involve risks and
uncertainties including, but not limited to, changes in customer
demand and response to products and services offered by AZZ,
including demand by the power generation markets, electrical
transmission and distribution markets, the industrial markets, and
the hot dip galvanizing markets; prices and raw material cost,
including zinc and natural gas which are used in the hot dip
galvanizing process; changes in the economic conditions of the
various markets that AZZ serves, foreign and domestic, customer
request delays of shipments, acquisition opportunities, currency
exchange rates, adequacy of financing, and availability of
experienced management employees to implement AZZ's growth
strategy. AZZ has provided additional information regarding risks
associated with the business in AZZ's Annual Report on Form 10-K
for the fiscal year ended February 28,
2013 and other filings with the SEC, available for viewing
on AZZ's website at www.azz.com and on the SEC's website at
www.sec.gov. You are urged to consider these factors
carefully in evaluating the forward-looking statements herein and
are cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by this
cautionary statement. These statements are based on information as
of the date hereof and AZZ assumes no obligation to update any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Contact:
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Dana Perry, Senior
Vice President – Finance and CFO
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AZZ incorporated
817-810-0095
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Internet:
www.azz.com
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Lytham Partners
602-889-9700
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Joe Dorame or Robert
Blum
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Internet:
www.lythampartners.com
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SOURCE AZZ incorporated