AZZ (AZZ) 8-K AZZ First Quarter – Fiscal Year 2012

Exhibit 99.2

Unaudited Financial and Other Statistical Information for the Three Month Period Ended May 31, 2011 and Guidance for Fiscal Year 2012

AZZ incorporated

Consolidated Statements of Income

(unaudited)

	Three Months Ended May 31, 2011
Net Sales	$	114,332,931
Cost of Sales		83,264,145
Selling, General and Administrative		13,049,354
Interest Expense		3,470,539
Net (Gain) Loss on Sale of Property, Plant and Equipment and Insurance Proceeds		231,009
Other (Income) Expense, Net		(647,429	)
		99,367,618
Income Before Income Taxes		14,965,313
Income Tax Expense		5,500,112
Net Income	$	9,465,201
Income Per Share:
Basic	$	.75
Diluted	$	.75

1

Exhibit 99.2

AZZ incorporated

Consolidated Balance Sheet

 (unaudited)

Assets:	Period Ended May 31, 2011
Current assets:
Cash and cash equivalents	$	140,400,271
Accounts receivable		61,313,122
Allowance for doubtful accounts	(800,000		)
Inventories		61,256,909
Costs and estimated earnings in excess of billings on uncompleted contracts		16,940,092
Deferred income taxes		6,750,849
Prepaid expenses and other		3,602,324
Total current assets		289,463,567
Net property, plant, and equipment		124,814,981
Goodwill, less accumulated amortization		113,529,150
Intangibles and Other Assets		42,770,571
	$	570,578,269
Liabilities and Shareholders’ Equity:
Current liabilities:
Accounts payable	$	23,655,683
Accrued liabilities		45,306,168
Total current liabilities		68,961,851
Long-term debt due after one year		210,714,286
Deferred income taxes		27,204,282
Shareholders’ equity		263,697,850
	$	570,578,269

2

Exhibit 99.2

AZZ incorporated

Condensed Consolidated Statement of Cash Flows

 (unaudited)

	Period Ended May 31, 2011
Net cash provide by operating activities	$	9,669,834
Net cash used in investing activities		(4,557,578	)
Net cash provided by (used in) financing activities		(3,096,296	)
Effect of exchange rate changes on cash		(5,526	)
Net (decrease) increase in cash and cash equivalents		2,010,434
Cash and cash equivalents at beginning of period		138,389,837
Cash and cash equivalents at end of period	$	140,400,271

3

Exhibit 99.2

AZZ incorporated

Financial and Other Statistical Information

 (unaudited)

($ in Thousands)

Information regarding operations and assets by segment is as follows:

	Three Months Ended May 31, 2011
Net sales:
Electrical and Industrial Products	$	48,266
Galvanizing Services		66,067
		114,333
Segment operating income (a):
Electrical and Industrial Products		7,414
Galvanizing Services		17,121
		24,535
General corporate expenses (b)		6,233
Interest expense		3,471
Other (income) expense, net (c)		(134	)
		9,570
Income Before Taxes	$	14,965
Total assets:
Electrical and Industrial Products	$	135,797
Galvanizing Services		278,761
Corporate		156,020
	$	570,578

(a) Segment operating income consists of net sales less cost of sales, specifically identifiable general and administrative expenses, specifically identifiable selling expenses and other income and expense items that are specifically identifiable to a segment.

(b) General corporate expense consists of selling, general and administrative expense that are not specifically identifiable to a segment.

(c) Other (income) expense, net includes gains and losses on sale of property, plant and equipment and other (income) expense not specifically identifiable to a segment.

4

Exhibit 99.2

AZZ incorporated

Financial and Other Statistical Information

(unaudited)

($ in Thousands except per share amount)

	Actual Year to Date May 31, 2011			Projected Year Ended February 29, 2012
Net Sales:
Electrical and Industrial Products	$	48,266		$	185,000 to $195,000
Galvanizing Services	$	66,067		$	265,000 to $280,000
Total Sales	$	114,333		$	450,000 to $475,000
Diluted earnings per share	$	.75		$	2.90 to $3.10
Net Sales by Market Segment:
Power Generation					20	%
Transmission and Distribution					26	%
Industrial					54	%
Electrical and Industrial Products
Revenues by Industry:
Power Generation					32	%
Transmission and Distribution					45	%
Industrial					23	%
Galvanizing Services
Revenues by Industry:
Electrical and Telecommunications					30	%
OEM’s					18	%
Industrial					32	%
Bridge and Highway					10	%
Petro Chemical					10	%
Operating Margins:
Electrical and Industrial Products		15.4	%	13% to 15		%
Galvanizing Services		25.9	%	25% to 27		%
Cash Provided By (Used In)Operations	$	9,670		$	50,000
Capital Expenditures	$	4,558		$	23,000
Depreciation and Amortization of Intangible Assets and Debt Issue Cost	$	5,800		$	21,000
Total Bank Debt	$	225,000		$	225,000
Cash Dividend	$	3,136		$	12,700
Percent of Business By Segment:
Electrical and Industrial Products		42	%		41	%
Galvanizing Services		58	%		59	%

5

Exhibit 99.2

AZZ incorporated

Financial and Other Statistical Information

(unaudited)

($ in Millions)

	Period Ended
Backlog	2/28/11	$	108,379
Bookings			120,697
Shipments			114,333
Backlog	5/31/11	$	114,743
Book to Ship Ratio			1.06

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