LSB Industries, Inc. (NYSE: LXU) announced today record results for the fourth quarter and year ended December 31, 2011.
Fourth Quarter 2011 Financial Highlights Compared to Fourth Quarter 2010:
- Net sales were $215.4 million, a 25% increase from $172.2 million;
- Operating income was $41.6 million compared to $30.2 million;
- Net income was $28.0 million compared to $18.0 million;
- Net income applicable to common shareholders was $28.0 million compared to $18.0 million;
- Diluted earnings per common share were $1.19 compared to $.79.
Year 2011 Financial Highlights Compared to Year 2010:
- Net sales were $805.3 million, a 32% increase from $609.9 million;
- Operating income was $136.4 million compared to $55.9 million;
- Net income was $83.8 million compared to $29.6 million;
- Net income applicable to common shareholders was $83.5 million compared to $29.3 million;
- Diluted earnings per common share were $3.58 compared to $1.32.
Discussion of Fourth Quarter of 2011:The $43.2 million increase in consolidated sales includes a $44.8 million or 46% increase in Chemical Business sales and a $3.5 million or 5% decrease in Climate Control Business sales. The $11.4 million increase in consolidated operating income includes an increase of $17.9 million by the Chemical Business and a $6.3 million decrease by the Climate Control Business.
- Although the increase in the Chemical Business operating income reflects higher overall selling prices and volumes, the increase was primarily a result of greater sales volumes and margins on urea ammonium nitrate (“UAN”) produced at the Cherokee Nitrogen and Pryor Chemical facilities.
- In addition to lower comparable quarter sales, the decrease in the Climate Control Business operating income was due to higher material costs, change in product mix, an increase in selling expenses and the competitive environment resulting from continued lower construction activity.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV