Apogee Enterprises Inc (NASDAQ: APOG) stock fell approximately 10.4% today (as of  12:39 PM GMT-4; Source: Google finance) in the fourth quarter of FY 18 has reported the adjusted earnings per share of $0.96, beating the analysts’ estimates for the adjusted earnings per share of $0.62. The company had reported the adjusted revenue growth of 13 percent to $353.30 million in the fourth quarter of FY 18, missing the analysts’ estimates for revenue of $363.1 million. The company has posted 7% rise in the adjusted operating income of $34.1 million

Moreover, for the full year 2018, the operating cash flow of $127 million, increased cash dividend by 12.5 percent and had repurchased approximately 700,000 shares.

Architectural Framing Systems has posted 75% growth in the revenue. However, excluding the EFCO and Sotawall acquisitions, revenues were up 9 percent, with growth in all legacy businesses from increased pricing, share gains and geographic growth in North America. Excluding acquisitions, the revenues were down 4 percent in the fourth quarter vs. a strong prior-year period and on project timing.

Architectural Glass business is growing in the mid-size project sector with attractive margins and successfully regaining large-project work, which is expected to begin generating revenue later in FY19 and beyond. Further, Architectural Services segment in the fourth-quarter backlog of $426.3 million, which was up more than $100 million from the FY17 year-end level, not including the transfer from EFCO.

Operating margin was 8.7 percent, vs. 11.6 percent, and adjusted operating margin was 10.3 percent, vs. 12.0 percent, as improved operating margins for legacy businesses were offset by the addition of EFCO, which currently operates at a lower margin.

Significant progress is being made on purchasing and operational synergies with EFCO, and Apogee has the expertise and resources to bring this business to segment levels of performance.

For FY19, the company expects the adjusted earnings per share in the range of $3.43 to $3.63, revenue growth of approximately 10 percent and operating income to increase to a record level.

Going forward to FY 20, Apogee expects to show further revenue and income expansion. The company’s positive outlook is supported by external forecasts for continued solid U.S. commercial construction markets and the internal visibility that includes a healthy backlog and pipeline of projects that the company is bidding. Apogee’s backlog, bidding and pipeline of potential work will lead to a  growth through FY20. Although visibility into FY21 is limited, the company is not seeing any slowdown in commercial construction markets.