TXI Reports Second Quarter Results

DALLAS, Jan. 6, 2011 (GLOBE NEWSWIRE) -- Texas Industries, Inc. (NYSE:TXI) today reported financial results for the quarter ended November 30, 2010. Results for the quarter were a net loss of $11.2 million or $.40 per share. Results for the quarter ended November 30, 2009 were a net loss of $3.7 million or $.13 per share and included after tax gains from the sale of emission credits of $2.1 million ($.08 per share).

General Comments

"Conditions in our markets remain challenging," stated Mel Brekhus, Chief Executive Officer. "Volumes were up compared to the same period a year ago but it is difficult to determine how much might be attributable to market conditions due to the fact that we experienced abnormally inclement weather in Texas a year ago and more typical weather this year."

"We continue to focus on meeting market demand as cost effectively as possible. As planned, we resumed construction of TXI's central Texas cement plant expansion during the quarter," added Brekhus.

A teleconference will be held tomorrow, January 7, 2011 at 10:00 Central Standard Time to further discuss quarter results. A real-time webcast of the conference is available by logging on to TXI's website at www.txi.com .

The following is a summary of operating results for our business segments and certain other operating information related to our principal products.

Cement Operations

	Three months ended  November 30,		Six months ended  November 30,
In thousands except per unit	2010	2009	2010	2009
Operating Results
Total cement sales	$ 61,599	$ 61,726	$ 129,289	$ 140,186
Total other sales and delivery fees	6,979	6,457	15,671	13,193
Total segment sales	68,578	68,183	144,960	153,379
Cost of products sold	63,121	58,359	133,184	128,218
Gross profit	5,457	9,824	11,776	25,161
Selling, general and administrative	(4,018)	(4,359)	(8,811)	(9,033)
Other income	509	4,670	2,947	6,413
Operating Profit	$ 1,948	$ 10,135	$ 5,912	$ 22,541
Cement
Shipments (tons)	784	738	1,657	1,653
Prices ($/ton)	$78.49	$83.64	$78.02	$84.78
Cost of sales ($/ton)	$73.39	$71.98	$72.25	$70.16

Three months ended November 30, 2010

Cement operating profit for the three-month period ended November 30, 2010 was $1.9 million, a decrease of $8.2 million from the prior year period. Lower sales prices offset in part by higher shipments reduced operating profit approximately $3 million.   In addition, other income decreased $4.2 million from the prior year period.