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MINNEAPOLIS-Apogee Enterprises, which provides glass for the construction, large-scale optical and automotive industries, says its first quarter fiscal 2002 earnings from operations were $0.20 per share, or $5.6 million, up 186% compared to the year-ago quarter. Revenues for the first quarter were $203.6 million, down 14% from the same period last year–although they are flat after being adjusted for the formation of the PPGAuto Glass, LLC joint venture last July.

Revenues for Apogee’s architectural business, its largest segment, was up 5% to $116.2 million and operating income increased 11% to $7.0 million from the fiscal 2001 first quarter. Strong operating income growth year to year from Viracon, the largest business in the segment, due to improved volume and continuing operating improvements contributed to the segment’s strong performance.

The architectural segment backlog remains at record levels, holding at the fiscal 2001 year-end figure of $190 million and up 13% from the first quarter of the prior year. Apogee is maintaining its outlook for high single-digit growth for this segment as markets continue to shift to the value-added materials and services provided by Apogee’s businesses.

Although industry research forecasts that the construction industry, Apogee’s largest market, will be flat to down this year, Apogee believes its customers willproduce single-digit growth. “Our architectural segment is experiencing some minor delays in projects but continues to have a strong outlook, starting the second quarter with approximately six months backlog,” says Russell Huffer, Apogee chairman, president and chief executive officer.

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