Worthington Industries Inc. Financial Results for for Q4 FY 2014 and Full-Year FY 2014
07/01/2014 - Worthington Industries, Inc. (Worthington) reported financial results for Q4 FY 2014 and full-year FY 2014 (period ended May 31, 2014).
During the quarter, the Company's net sales were up 26.6% YoY to $891.0 million; while full-year FY 2014 net sales were up 19.7% YoY to $3.1 billion. Quarterly net earnings stood at $33.2 million, or $0.47 per diluted share, compared to $33.5 million, or $0.46 per share, in Q4 FY 2013. Full-year net earnings came in at $151.3 million, or $2.11 per diluted share, compared to $136.4 million, or $1.91 per diluted share, in full-year FY 2013. "We had a great fiscal 2014 with the highest annual earnings per share in our Company's history," said John McConnell, Chairman and CEO of Worthington. "The fourth quarter results showed improvement over the prior year period with Steel Processing leading the way. Our transformation efforts continue to help that business deliver strong results as it nears the peak volumes we saw prior to the downturn."