AZZ announces three and nine-month fiscal results

Electrical products and galvanising services provider AZZ has announced unaudited financial results for the three and nine-month periods ended 30 November 2010, including the acquisition of North American Galvanizing effective from 14 June 2010.

Revenues for the third quarter were $102.9m (£66.4m) up 26 per cent from $81.5m in 2009, while net income for the quarter was $9.7m, or $0.77 per diluted share, compared to net income of $8.7m, or $0.70 per diluted share, in last year’s third fiscal quarter.

For the nine-month period, the company reported revenues of $280m, an increase of three per cent from $272.2m for the comparable period last year, while net income for the nine months was $25.7m, or $2.04 per diluted share, compared to $29.8m, or $2.39 per diluted share in the comparable period of last year.

For the first nine months, expenses related to the acquisition of North American Galvanizing adversely impacted earnings per diluted share by $0.09 per diluted share.