AZZ is a manufacturer of electrical products for the power generation industry, provider of custom hot dip galvanizing services and processor of oil field tubing. For the three months ended 5/31/97, net sales increased 29% to $18.4 million. Net income rose 75% to $1.6 million. Revenues benefitted from higher volumes which are a result of improved backlogs at each of the electrical companies. Earnings also benefitted from reduced debt and lower interest rates.
AZZ made a new high at 21 7/16 with extremely high volume last Friday. Earning will come out on Sep 18.
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joe |