CONSOLIDATED FINANCIAL HIGHLIGHTS
Net sales for the fourth quarter were $374.8 million, an 8.0% increase versus the $346.9 million recorded in the fourth quarter of 2010. Earnings from operations for the fourth quarter of 2011 were $20.8 million compared with $33.2 million in 2010. Net earnings attributable to Martin Marietta Materials were $14.8 million, or $0.32 per diluted share, for the fourth quarter of both 2011 and 2010.
Net sales for full-year 2011 were $1.520 billion compared with $1.476 billion for the prior year. Full-year earnings from operations were $161.0 million versus $198.4 million in 2010. For the year, net earnings attributable to Martin Marietta Materials were $82.4 million, or $1.78 per diluted share, compared with net earnings attributable to Martin Marietta Materials of $97.0 million, or $2.10 per diluted share, in 2010.
BUSINESS FINANCIAL HIGHLIGHTSNet sales for the Aggregates business during the fourth quarter of 2011 were $323.3 million compared with 2010 fourth-quarter sales of $302.4 million. Aggregates pricing at heritage locations was up 6.0%, while volume decreased 1.2%. Earnings from operations for the quarter were $23.1 million in 2011 versus $30.2 million in the prior year. Full-year 2011 net sales for the Aggregates business were $1.319 billion versus $1.299 billion in 2010. Earnings from operations were $127.5 million in 2011 compared with $168.6 million in 2010. For the year, heritage aggregates pricing increased 2.7%, while volume decreased 3.5%. Specialty Products’ fourth-quarter net sales of $51.5 million increased 16% over prior-year net sales of $44.5 million. Earnings from operations for the fourth quarter were $16.3 million compared with $10.5 million in the year-earlier period. For full-year 2011, net sales were $200.6 million and earnings from operations were $66.3 million compared with net sales of $176.3 million and earnings from operations of $50.6 million for full-year 2010. CONFERENCE CALL INFORMATION The Company will host an online web simulcast of its fourth quarter 2011 earnings conference call later today (February 7, 2012). The live broadcast of the Martin Marietta Materials, Inc. conference call will begin at 2 p.m. Eastern Time today. An online replay will be available approximately two hours following the conclusion of the live broadcast. A link to these events will be available at the Corporation’s website.
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