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AZZ Q2 revenues $236.2 million

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Christian Fernsby ▼ | December 5, 2019
AZZ announced financial results for the second quarter ended August 31, 2019.
AZZ
AZZ   Net income for the second quarter increased 38.4%
Revenues for the second quarter of fiscal year 2020 were $236.2 million, compared to $222.8 million for the same quarter last year, an increase of 6.0%.

Topics: AZZ

Net income for the second quarter increased 38.4% to $15.6 million, or $0.59 per diluted share, compared to net income of $11.2 million, or $0.43 per diluted share, for the second quarter of fiscal year 2019.

Gross margins for the second quarter of fiscal year 2020 improved to 22.3% compared to 21.1% in the second quarter of last year.

Operating margins increased to 9.4%, compared to 7.7% in the second quarter of fiscal year 2019, as SG&A fell to 12.9% of sales compared to 13.4% of sales in the prior year.

Incoming orders for the quarter were $238.0 million resulting in a book to revenue ratio of 1.01.

In the second quarter of fiscal year 2019 incoming orders were $253.9 million, resulting in a book to revenue ratio of 1.14.

Our Energy segment backlog at the end of the second quarter of fiscal year 2020 was $301.9 million compared to $336.0 million, a decrease of 10.1% for the second quarter of last year.

Approximately 42% of the current backlog is expected to be delivered outside the U.S., compared to 44% in the second quarter of fiscal year 2019.


 

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