This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TXI Reports First Quarter Results

Total segment sales for the three-month period ended August 31, 2012 were $97.2 million compared to $85.6 million for the prior year period. Cement sales increased $11.3 million from the prior year period. Our Texas market area accounted for approximately 67% of cement sales in each of the three -month periods ended August 31, 2012 and August 31, 2011. Average cement prices increased 3% in our Texas market from the prior year period. Average cement prices decreased 7% due to a change in product mix in our California market from the prior year period. Shipments increased 11% in our Texas market area and 24% in our California market area.

Cost of products sold for the three-month period ended August 31, 2012 increased $7.9 million from the prior year period primarily due to higher shipments. Cement unit cost of sales decreased 4% from prior year period primarily due to lower energy costs.

Selling, general and administrative expense for the three-month period ended August 31, 2012 decreased $0.5 million from the prior year period primarily due to our work force reduction initiatives.

Other income for the three-month period ended August 31, 2012 decreased $2.3 million from the prior year period. The sales of emission credits associated with our Crestmore cement plant in Riverside, California resulted in gain of $2.5 million in the three-month period ended August 31, 2011.

Aggregate Operations

   Three months ended  August 31,
In thousands except per unit  2012  2011
     
Operating Results    
Stone, sand and gravel sales  $ 28,151  $ 22,200
Expanded shale and clay sales and delivery fees   30,523   22,901
Total segment sales  58,674  45,101
Cost of products sold   49,041   38,508
Gross profit 9,633 6,593
Selling, general and administrative (2,330) (2,950)
Other income     1,716     272
Operating Profit  $ 9,019  $ 3,915
     
Stone, sand and gravel    
Shipments (tons) 3,914 3,143
Prices ($/ton)  $7.19  $7.06
Cost of sales ($/ton)  $5.98  $6.22

Aggregate operating profit for the three-month periods ended August 31, 2012 and August 31, 2011 was $9.0 million and $3.9 million, respectively.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs