By Ian Walker
Gibraltar Industries Inc. /zigman2/quotes/204241548/composite ROCK +2.19% on Thursday said it swung to a fourth-quarter profit as it benefited from lower costs, recent tax reforms and margin improvements.
The Buffalo, N.Y., building-supplies manufacturer posted a quarterly profit of $25.2 million, or 78 cents a share, compared with a loss of $7.8 million, or 24 cents a share, for the same period last year.
Excluding items, Gibraltar reported an adjusted profit of 41 cents a share for the quarter. The company had guided for an adjusted profit of 29 cents to 36 cents a share.
Sales rose to $258.1 million from $231.8 million a year earlier, exceeding the company's guidance of $231 million to $236 million.
For the year ahead, Gibraltar expects 2018 revenue to exceed $1 billion and an adjusted profit of $1.96 to $2.08 a share, compared with $1.71 a share for 2017.
For the first quarter, the company expects revenue of $213 million to $220 million as it benefits from growth across all end markets and continued traction from innovative products.
Adjusted profit for the first quarter is expected to be 23 cents to 28 cents a share.
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