* Sees pricing pressure
* Expects loss in first half of FY11
* Sees full-year profit boosted by optical segment
* Shares down as much as 16 pct
(Adds comments from conference call; updates share movement)
BANGALORE, April 8 Shares of Apogee Enterprises
Inc (APOG.O) fell as much as 16 percent Thursday, a day after
the developer of glass products and services posted
fourth-quarter results below market expectations, and forecast
lower fiscal 2011 revenue.
The company said it expects to be profitable during fiscal
2011 but said revenue is estimated to be down 10 percent to 15
Apogee expects losses in the first half of the year, as
there is a gap between completion of some projects and start of
new work in its architectural segment, the company said on a
"We anticipate that earnings from our large-scale optical
segment will offset losses in our architectural segment, where
we expect the second half will be stronger than the first
half," the company said in a statement late Wednesday.
Apogee expects to have free cash during the year and said
it would be willing to invest in "attractive long-term
opportunities" if the timing is right.
For the fourth quarter, earnings from continuing operations
were $282 million, or 1 cent a share.
Analysts on average were looking for a profit 9 cents a
share, according to Thomson Reuters I/B/E/S.
Revenue fell 26 percent to $148.6 million. Analysts were
expecting $163.8 million.
Shares of the company were down $1.90 at $14.67 in morning
trade on Nasdaq. They touched a low of $14.00 earlier in the
(Reporting by Amulya Nagaraj in Bangalore; Editing by Roshni