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Armstrong, Windstream report 2012 results

By - Last modified: February 19, 2013 at 11:07 AM

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Two companies with midstate operations reported financial results this morning for 2012.

Armstrong World Industries Inc. reported net income of $8.4 million, or 14 cents per diluted share, for the fourth quarter, compared with net income of $8.5 million, or 14 cents per diluted share, in the fourth quarter of 2011.

Excluding restructuring charges and other nonrecurring expenses, Armstrong reported earnings of 34 cents per diluted share. Analysts expected earnings of 32 cents per diluted share, according to Yahoo Finance.

For the year, Armstrong reported net income of $131.3 million, or $2.19 per diluted share, compared with net income of $112.4 million, or $1.90 per diluted share, for 2011.

Armstrong said it expects full-year sales for 2013 to be $2.7 billion to $2.8 billion and adjusted earnings per share to be $2.30 to $2.60. It also said it plans to refinance its credit agreement, totaling $1.025 billion.

Armstrong, based in Lancaster County, is a worldwide producer of ceilings, floors and other building products. Its shares trade on the New York Stock Exchange under the ticker symbol AWI.

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Windstream Corp. reported net income of $10.1 million, or 2 cents per diluted share, for the fourth quarter of 2012, compared with a net loss of $34.7 million, or 7 cents per diluted share, in the fourth quarter of 2011.

The results reflect one-time charges totaling 9 cents per share — a noncash charge of 7 cents per share related to Windstream’s pension plan and 2 cents per share in restructuring expenses.

Without them, Windstream said it would have reported net income of 11 cents per diluted share. Analysts expected earnings of 13 cents per diluted share, according to Yahoo Finance.

For the year, Windstream reported net income of $168 million, or 28 cents per diluted share, compared with net income of $169.5 million, or 32 cents per diluted share, for 2011.

Windstream, based in Little Rock, Ark., provides network communications, cloud computing and other IT services. It purchased former Ephrata-based D&E Communications in 2009. Its shares trade on the Nasdaq under the ticker symbol WIN.

 

Write to the Editorial Department at editorial@cpbj.com

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