Volume 35, Number 11, November 2000

FinancialFlash

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Apogee Releases Second Quarter Results; On Track for 2001

Minneapolis-based Apogee Enterprises recently released its second quarter financial results. According to the company, it reported net earnings of $4.2 million for its continuing operations, or 15 cents per diluted share, for the second quarter of the year. In addition, Apogee reported a 9-percent increase in sales to $236.4 million. However, the company’s operating income decreased 11 percent to $10.7 million. “Our second quarter results place Apogee on track for improved results from continuing operations this year,” said Russell Huffer, Apogee’s chairman and chief executive officer. “Looking to the second half of fiscal 2001, which ends March 3, 2001, our businesses are progressing on a positive course.”



Lilly Industries Reports Third Quarter Results

Lilly Indus-tries Inc. of Indianapolis has released its third quarter financial results. The company reported a 1-percent increase in sales compared to last year’s third quarter, with sales at $171.2 million. The company’s net income also increased 5 percent, up to $9.1 million, or 38 cents per diluted share. According to the company, the increases were all due to its pending merger with the Valspar Corp.

In addition, Lilly reported its financial results for the nine months which ended August 31, 2000. The company says it saw a 4 percent increase in sales for the nine months, totaling at $508.6 million. However, Lilly’s net income for the nine month period went down 5 percent from last year, totaling $22.7 million.

USG

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