U.S. Silica Holdings, Inc. (NYSE: SLCA) today announced net income of $18.8 million, or $0.36 per basic and diluted share for the quarter ended September 30, 2012, compared with net income of $10.3 million, or $0.21 per basic and diluted share for the same period in 2011.
Summary Financial and Operating Data
|($ in millions, except statistics and per share)||Three Months Ended September 30,|
|Key Operating Statistics:|
Tons Sold: (000s)
|Oil & Gas||769.0||458.8|
|Industrial & Specialty Products||1,115.1||1,119.5|
|Adjusted EBITDA (a)||$||37.5||$||23.2|
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, “For the third quarter of 2012, U.S. Silica achieved record performance in volume, revenue and Adjusted EBITDA, exceeding the high end of the guidance that we provided in our last earnings release. Our performance demonstrates the power of U.S. Silica’s business model – which balances the upside growth potential in unconventional drilling with stable industrial markets.”