TXI Reports Third Quarter Results

DALLAS, March 23, 2011 (GLOBE NEWSWIRE) -- Texas Industries, Inc. (NYSE:TXI) today reported financial results for the quarter ended February 28, 2011. Results for the quarter were a net loss of $20.9 million or $.75 per share. Results for the quarter ended February 28, 2010 were a net loss of $27.1 million or $.98 per share.

General Comments

"Shipments were up compared to the same period a year ago," stated Mel Brekhus, Chief Executive Officer. "However, since we had abnormally inclement weather in both periods, we will not know how much of the increase is attributable to improved market conditions until we see the extent of the weather related rebound in our fourth quarter."

"We continue to focus on meeting market demand as cost effectively as possible," added Brekhus. "We resumed construction of TXI's central Texas cement plant expansion last quarter and that project is proceeding as planned."

A teleconference will be held tomorrow, March 24, 2011 at 10:00 Central Daylight 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  February 28,		Nine months ended  February 28,
In thousands except per unit	2011	2010	2011	2010
Operating Results
Total cement sales	$ 54,018	$ 52,322	$ 183,307	$ 192,508
Total other sales and delivery fees	6,144	5,296	21,815	18,489
Total segment sales	60,162	57,618	205,122	210,997
Cost of products sold	70,010	70,616	203,194	198,834
Gross profit (loss)	(9,848)	(12,998)	1,928	12,163
Selling, general and administrative	(3,286)	(3,715)	(12,097)	(12,748)
Other income	696	411	3,643	6,824
Operating Profit (Loss)	$ (12,438)	$ (16,302)	$ (6,526)	$ 6,239
Cement
Shipments (tons)	704	639	2,361	2,292
Prices ($/ton)	$76.75	$81.82	$77.64	$83.96
Cost of sales ($/ton)	$90.43	$101.70	$77.67	$78.96

Three months ended February 28, 2011

Cement operating loss for the three-month periods ended February 28, 2011 and February 28, 2010 was $12.4 million and $16.3 million, respectively. Higher shipments offset in part by lower sales prices increased total sales $2.5 million from the prior year period.