EX-99.1

EX-99.1 2 d413906dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

Apogee Enterprises, Inc.

Summary of Adjusted Operating Income and Operating Margin

(In thousands, except percentages)

(Unaudited)


	Three Months Ended May 28, 2016
	Framing Systems Segment				Corporate			Consolidated
	Operating income		Operating margin		Operating income (loss)			Operating income		Operating margin

Operating income (loss)⁽¹⁾	$	10,232		12.6%	$	(1,347	)	$	26,249		10.6%

	Three Months Ended August 27, 2016
	Framing Systems Segment				Corporate			Consolidated
	Operating income		Operating margin		Operating income (loss)			Operating income		Operating margin

Operating income (loss)⁽¹⁾	$	13,001		14.1%	$	(856	)	$	33,048		11.9%

	Three Months Ended November 26, 2016
	Framing Systems Segment				Corporate			Consolidated
	Operating income		Operating margin		Operating income (loss)			Operating income		Operating margin

Operating income (loss)⁽¹⁾	$	11,838		13.0%	$	(1,115	)	$	33,259		12.1%

	Three Months Ended March 4, 2017
	Framing Systems Segment				Corporate			Consolidated
	Operating income		Operating margin		Operating income (loss)			Operating income		Operating margin

Operating income (loss)	$	9,697		8.0%	$	(4,843	)	$	29,669		9.4%
Amortization of short-lived acquired intangibles		1,722		1.4%		—			1,722		0.6%
Acquisition-related costs		—		—		531			531		0.2%

Adjusted operating income (loss)	$	11,419		9.4%	$	(4,312	)	$	31,922		10.2%

	Fiscal Year Ended March 4, 2017
	Framing Systems Segment				Corporate			Consolidated
	Operating income		Operating margin		Operating income (loss)			Operating income		Operating margin

Operating income (loss)	$	44,768		11.6%	$	(8,160	)	$	122,225		11.0%
Amortization of short-lived acquired intangibles		1,722		0.4%		—			1,722		0.2%
Acquisition-related costs		—		—		531			531		0.0%

Adjusted operating income (loss)	$	46,490		12.0%	$	(7,629	)	$	124,478		11.2%

⁽¹⁾ Expenses related to amortization of short-lived acquired intangibles and acquisition-related costs are not applicable to the period ended May 28, 2016, August 27, 2016, or November 26, 2016, and therefore no adjustments have been made.

Apogee Enterprises, Inc.

Summary of Adjusted Earnings and Adjusted Earnings per Diluted Share

(In thousands, except per-share data)

(Unaudited)


	Three Months Ended May 28, 2016
	Net Earnings			Earnings per Diluted Share

GAAP Results ⁽¹⁾	$	17,722		$	0.61

	Three Months Ended August 27, 2016
	Net Earnings			Earnings per Diluted Share

GAAP Results ⁽¹⁾	$	22,397		$	0.77

	Three Months Ended November 26, 2016
	Net Earnings			Earnings per Diluted Share

GAAP Results ⁽¹⁾	$	22,552		$	0.78

	Three Months Ended March 4, 2017
	Net Earnings			Earnings per Diluted Share

GAAP Results	$	23,120		$	0.80
Amortization of short-lived acquired intangibles		1,722			0.06
Acquisition-related costs		531			0.02
Income tax impact on above adjustments ⁽²⁾		(493	)		(0.02	)

As Adjusted	$	24,880		$	0.86

	Fiscal Year Ended March 4, 2017
	Net Earnings			Earnings per Diluted Share

As Reported	$	85,790		$	2.97
Amortization of short-lived acquired intangibles		1,722			0.06
Acquisition-related costs		531			0.02
Income tax impact on above adjustments		(493	)		(0.02	)

As Adjusted	$	87,550		$	3.03

⁽²⁾ Income tax impact on adjustments was calculated using the quarterly effective income tax rate of 21.9%.