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U.S. Silica Holdings, Inc. Announces Second Quarter 2012 Results

U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced net income of $19.5 million, or $0.37 per basic share and $0.36 per diluted share for the quarter ended June 30, 2012, compared with net income of $6.4 million, or $0.13 per basic and diluted share for the same period in 2011.

Summary Financial and Operating Data

     
($ in millions except statistics and per share) Three Months Ended June 30,
    2012       2011  
Key Operating Statistics:

Tons Sold: (000s)

Oil & Gas 685.0 535.1
Industrial & Specialty Products   1,098.4     1,105.6  
Total 1,783.4 1,640.7
 
Income:
Revenue $ 104.6 $ 74.1
 
Contribution Margin $ 47.3 $ 31.5
% Margin 45.2 % 42.6 %
 
Adjusted EBITDA (a) $ 37.1 $ 26.4
% Margin 35.5 % 35.7 %
 
Net Income $ 19.5 $ 6.4
 
EPS, Basic $ 0.37 $ 0.13
EPS, Diluted $ 0.36 $ 0.13
 
        (a)   A reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to net income, the most comparable GAAP measure, and other important information appears on page 6.

Bryan Shinn, President and Chief Executive Officer said “I’m pleased that for the second quarter of 2012, U.S. Silica again delivered strong financial results, in line with the high-end of the guidance range provided in our last earnings release. We are very satisfied with these results. Our performance underscores the value of U.S. Silica’s business model – which balances the upside growth potential in unconventional drilling with highly stable industrial markets.”

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