On January 21, AZZ incorporated, a Texas, US based manufacturer of electrical products and a provider of galvanizing services, announced revenue and earnings guidance for the fiscal year ending February 29, 2012.
David H. Dingus, president and chief executive officer of AZZ incorporated, stated, "Based upon the evaluation of information currently available to management, we are projecting our 25th consecutive year of profitability. Our earnings are estimated to be within the range of $2.70 and $3.05 per diluted share, and revenues are estimated to be within the range of $425 to $450 million. Our guidance does include the increased interest expense of $0.34 per diluted share associated with the $125 million of senior private placement notes issued on January 20, 2011. Our funded debt at the end of fiscal year 2011 is expected to be $225 million and our cash on hand is anticipated to be between $140 and $150 million."
The Galvanizing Services Segment revenues are projected to be up due both to organic growth and the full year impact of the North American Galvanizing acquisition, Dingus said, adding that margins for this segment should remain strong, and should be in the range of 25 to 27 percent. It is anticipated that 60 percent of AZZ incorporated's revenues will be derived from the Galvanizing Services Segment and 40 percent from the Electrical and Industrial Products Segment.