Reuters: Global Markets: AZZ shares hit life-high as co raises forecast

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AZZ shares hit life-high as co raises forecast Jun 29th 2012, 15:10 Fri Jun 29, 2012 11:10am EDT (Reuters) - Shares of AZZ Inc (AZZ.N) rose 17 percent to a life high after the electrical equipment maker posted better-than-expected quarterly results and raised its outlook for fiscal 2013. The company raised its full-year profit outlook to $4.10 to $4.30 per share, from $3.25 to $3.55 per share. The electrical equipment maker now expects revenue of $550 million to $575 million, up from its previous forecast of $475 million to $510 million. First-quarter revenue at the company's galvanizing service segment rose 25 percent to $82.5 million, while revenue at its electrical and industrial products segment fell 7 percent to $44.7 million. The company also announced a 2 for 1 stock split payable in July. Shares of Fort Worth, Texas-based AZZ were up 14 percent at $58.31 on Friday morning, making them one of the top percentage gainers on the New York Stock Exchange.

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