September 27, 2012 / 9:46 PM / 5 years ago

Electrical equipment maker AZZ raises full-year forecast again

Sept 27 (Reuters) - Electrical equipment and components maker AZZ Inc reported quarterly results above market expectations, helped by a 50 percent jump in sales in its electrical and industrial products business, and raised its full-year forecast for the second time this year.

AZZ, which competes with General Cable Corp, expects adjusted earnings of $2.25 to $2.40 per share on revenue of $575 million to $600 million in 2013.

It had earlier forecast earnings of $2.05 to $2.15 per share on revenue of $550 to $575 million.

The company said the acquisition of Nuclear Logistics Inc in June contributed to a 73 percent rise in backlog.

Second-quarter profit rose to $15.9 million, or 62 cents per share, from $9.6 million, or 38 cents per share, a year earlier.

Sales rose 33 percent to $153.4 million.

Analysts on average had expected earnings of 52 cents per share on revenue of $146.1 million, according to Thomson Reuters I/B/E/S.

Revenue in the electrical and industrial products business, which makes specialty electrical products and industrial lighting, doubled to $66.5 million.

Revenue in its galvanizing business rose 24 percent to $86.9 million.

AZZ shares rose nearly 10 percent in trading after the bell. They closed at $34.76 on the New York Stock Exchange on Thursday.

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