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TXI Reports First Quarter Results

Cement Operations

  Three months ended
  August 31, August 31,
In thousands except per unit 2013 2012
Operating Results    
Cement sales $ 104,426 $ 87,313
Other sales and delivery fees 10,322 9,892
Total segment sales 114,748 97,205
Cost of products sold 97,743 86,119
Gross profit 17,005 11,086
Selling, general and administrative (3,649) (3,544)
Other income, net 637 880
Operating profit $ 13,993 $ 8,422
Shipments (tons) 1,314 1,119
Prices ($/ton) $ 79.43 $ 78.06
Cost of sales ($/ton) $ 67.29 $ 68.55

Three months ended August 31, 2013

Cement operating profit for the three-month periods ended August 31, 2013 and 2012 was $14.0 million and $8.4 million, respectively.

Total segment sales for the three-month period ended August 31, 2013 were $114.7 million compared to $97.2 million for the prior year period. Cement sales increased $17.1 million from the prior year period. Our Texas market area accounted for approximately 70% of cement sales in the current period compared to 67% of cement sales in the prior year period. Average cement prices increased 2% in our Texas market from the prior year period. Average cement prices increased 1% in our California market from the prior year period. Shipments increased 23% in our Texas market area and 8% in our California market area.

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