United States Lime & Minerals Reports Fourth Quarter And Full-Year 2009 Results
DALLAS, Jan. 28 /PRNewswire-FirstCall/ -- United States Lime & Minerals, Inc. (Nasdaq: USLM) today reported fourth quarter and full-year 2009 results: Revenues in the fourth quarter 2009 decreased $743 thousand, or 2.6%, to $28.3 million from $29.0 million in the comparable 2008 quarter. Revenues from the Company's lime and limestone operations in the fourth quarter 2009 increased $821 thousand, or 3.2%, to $26.4 million from $25.6 million in the comparable 2008 quarter, while revenues from its natural gas interests decreased $1.6 million, or 45.3%, to $1.9 million in the fourth quarter 2009 from $3.5 million in the comparable 2008 quarter. For full-year 2009, revenues decreased to $117.3 million from $142.4 million in 2008, a decrease of $25.0 million, or 17.6%. Revenues from the Company's lime and limestone operations in 2009 decreased $15.8 million, or 12.5%, to $110.4 million from $126.2 million in 2008, while revenues from the Company's natural gas interests in 2009 decreased $9.3 million, or 57.2%, to $6.9 million from $16.2 million in 2008.
The fourth quarter 2009 increase in lime and limestone revenues compared to last year's comparable quarter was primarily due to increased steel demand and price increases for the Company's lime and limestone products, largely offset by continuing declines in construction demand. The full-year 2009 decrease in lime and limestone revenues compared to 2008 was driven primarily by decreased lime sales volumes, partially offset by price increases for the Company's lime and limestone products. Steel production, which declined drastically in the fourth quarter 2008, improved somewhat during 2009. However, construction demand declined further throughout 2009.
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