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Apogee Closes on $100 Million Revolving Credit Facility



  Apogee Closes on $100 Million Revolving Credit Facility

Business Wire

MINNEAPOLIS -- October 22, 2012

Apogee Enterprises, Inc. (Nasdaq:APOG) today announced that it has amended and
extended its secured revolving credit facility to support the company’s
strategic growth plans with an expanded facility at better terms. The facility
has been extended five years to October 2017 and expanded to $100 million,
from $80 million. It replaces the previous secured revolving credit facility
that was set to expire in January 2014.

“The expanded credit facility, along with Apogee’s strong balance sheet and
expectations of improving free cash flow position us to invest in growing
domestically and internationally. We plan to invest in new capabilities and
new capacities, as well as to fund acquisitions,” said James S. Porter, Apogee
chief financial officer. “In addition, with Apogee’s improving financial
performance and the current attractive financial markets, we were able to
refinance our revolving credit facility at better terms. We are pleased with
the ongoing support we have received from our lenders.”

Wells Fargo Bank, National Association serves as administrative agent,
swingline lender and issuing lender of the new facility, while Comerica Bank
is documentation agent and issuing lender. Additional lenders under the new
facility are BMO Harris Bank N.A. and US Bank, National Association.

About Apogee
Apogee Enterprises, Inc., headquartered in Minneapolis, is a leader in
technologies involving the design and development of value-added glass
products and services. The company is organized in two segments:

  * Architectural products and services companies design, engineer, fabricate,
    install and renovate the walls of glass and windows comprising the outside
    skin of commercial and institutional buildings.
  * Large-scale optical segment consists of a value-added glass and acrylic
    manufacturer for the custom framing market.

Forward-looking statements
The discussion above contains “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
reflect Apogee management’s expectations or beliefs as of the date of this
release. The company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. All forward-looking statements are qualified by factors
that may affect the operating results of the company, including the following:
operational risks within (A) the architectural segment: i) competitive,
price-sensitive and changing market conditions, including unforeseen project
delays and cancellations; ii) economic conditions, material cost increases and
the cyclical nature of the North American and Latin American commercial
construction industries; iii) product performance, reliability, execution or
quality problems that could delay payments, increase costs, impact orders or
lead to litigation; and iv) the segment’s ability to fully and efficiently
utilize production capacity; and (B) the large-scale optical segment: i)
markets that are impacted by consumer confidence and trends; ii) dependence on
a relatively small number of customers; iii) changing market conditions,
including unfavorable shift in product mix and new competition; and iv)
ability to fully and efficiently utilize production capacity. Additional
factors include: i) revenue and operating results that are volatile; ii)
financial market disruption which could impact company, customer and supplier
credit availability; iii) self-insurance risk related to a material product
liability event and to health insurance programs; iv) cost of compliance with
governmental regulations relating to hazardous substances; and v) foreign
currency risk related to certain continuing operations. The company cautions
investors that actual future results could differ materially from those
described in the forward-looking statements, and that other factors may in the
future prove to be important in affecting the company’s results of operations.
New factors emerge from time to time and it is not possible for management to
predict all such factors, nor can it assess the impact of each such factor on
the business or the extent to which any factor, or a combination of factors,
may cause actual results to differ materially from those contained in any
forward-looking statements. For a more detailed explanation of the foregoing
and other risks and uncertainties, see Item 1A of the company’s Annual Report
on Form 10-K for the fiscal year ended March 3, 2012.

Contact:

Apogee Enterprises, Inc.
Mary Ann Jackson, 952-487-7538
Investor Relations
mjackson@apog.com
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