APOGEE ENTERPRISES INC
For the period ended Apr 18, 2024. Filed Apr 18, 2024.
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Apr 18, 2024 · Filed Apr 18, 2024
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Contents
EX-99.1 · Financial Condition
Financial Condition
Net cash provided by operating activities in the fourth quarter improved to $74.9 million, compared to $51.6 million in last year’s fourth quarter. For the full year, net cash provided by operating activities increased to a record $204.2 million, compared to $102.7 million in the prior year, primarily driven by favorable working capital changes. Capital expenditures for the fiscal year were $43.2 million, compared to $45.2 million last year.
2 Backlog is a non-GAAP financial measure. See Use of Non-GAAP Financial Measures later in this press release for more information.
During the year, the Company returned $33.0 million of cash to shareholders through share repurchases and dividend payments.
Year-end long-term debt was $62.0 million, compared to $169.8 million at the end of fiscal 2023. The net leverage ratio 3 as of the end of the fiscal year improved to 0.1x compared to 0.9x at the end of fiscal 2023.
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