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Press Release
FOR RELEASE: April 8, 2021


APOGEE ENTERPRISES REPORTS FISCAL 2021 FOURTH QUARTER AND FULL YEAR RESULTS

Fourth-quarter revenue declines 8 percent to $309 million, with continued end-market headwinds

Fourth-quarter loss of $(1.65) per diluted share, which includes $70 million of non-cash impairment charges and $5 million of restructuring charges
Fourth quarter adjusted earnings per diluted share grow 26 percent to $0.63

Full-year cash flow from operations increases 32 percent, to record $142 million

Provides guidance for fiscal 2022

MINNEAPOLIS, MN, April 8, 2021 – Apogee Enterprises, Inc. (Nasdaq: APOG) today announced its fiscal 2021 fourth-quarter and full-year results and provided guidance for fiscal 2022. Fourth-quarter revenue was $308.6 million, compared to $337.1 million in the fourth quarter of fiscal year 2020, reflecting market-related volume declines in Architectural Framing Systems and Architectural Glass, partially offset by growth in Architectural Services. The company reported a net loss of $(1.65) per diluted share in the fourth quarter, which included non-cash, pre-tax impairment charges of $70.1 million in the Architectural Framing Systems segment, $4.9 million of restructuring costs, and $0.9 million of costs related to COVID. This compares to earnings of $0.45 per diluted share in the fourth quarter of fiscal 2020. Adjusted earnings, which exclude the impact of these charges, were $0.63 per diluted share, up from $0.50 in the prior-year period1.

Full-year fiscal 2021 revenue was $1.23 billion, compared to $1.39 billion in the prior-year. Full-year earnings were $0.59 per diluted share, compared to $2.32 in fiscal 2020, with full-year adjusted earnings per share of $2.40, compared to $2.38 in fiscal 2020.



1 Adjusted earnings and adjusted earnings per share are non-GAAP financial measures. See Use and Reconciliation of Non-GAAP Financial Measures later in this press release for more information and a reconciliation to the most directly comparable GAAP measures.





Apogee Enterprises, Inc. • 4400 West 78th Street • Minneapolis, MN 55435 • (952) 835-1874 • www.apog.com

The following information was filed by Apogee Enterprises, Inc. (APOG) on Thursday, April 8, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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