United States Lime & Minerals, Inc. Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014
January 30, 2015 at 12:18 pm
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United States Lime & Minerals, Inc. announced unaudited consolidated earnings and operating results for the fourth quarter and full year ended December 31, 2014. In the fourth quarter 2014, revenues increased to $35.4 million from $30.1 million in the comparable 2013 quarter. The increase in lime and limestone revenues in the fourth quarter 2014, compared to the comparable 2013 quarter, resulted from increased sales volumes to the Company's construction, industrial and environmental customers, partially offset by a reduction in demand from its oil and gas services customers due to decreasing drilling activities as a result of declining oil and gas prices. The Company reported net income of $3.7 million or $0.67 per share diluted, compared to net income of $2.6 million or $0.47 per share diluted in the fourth quarter 2013. Operating profit was $5.428 million compared to $3.951 million a year ago.
For the full-year 2014, revenues increased to $149.8 million from $133.8 million in 2013. Net income increased by $4.6 million, or 30.9%, to $19.4 million or $3.47 per share diluted, compared to $14.8 million or $2.66 per share diluted in 2013. Operating profit was $27.322 million compared to $21.651 million a year ago.
Production volumes from the Company's natural gas interests in the fourth quarter 2014 totaled 199,000 MCF, sold at an average price of $5.32 per MCF, compared to 233,000 MCF, sold at an average price of $6.20 per MCF, in the comparable 2013 quarter.
Production volumes for the full-year 2014 from natural gas interests totaled 840,000 MCF, sold at an average price of $6.28 per MCF, compared to the 2013 when 983,000 MCF was produced and sold at an average price of $5.86 per MCF.
United States Lime & Minerals, Inc. is engaged in lime and limestone operations. The Company is a manufacturer of lime and limestone products and supplying primarily the construction, including highway, road and building contractors; industrial, including paper and glass manufacturers; metals, including steel producers; environmental, including municipal sanitation and water treatment facilities and flue gas treatment processes; roof shingle manufacturers, agriculture and oil and gas services industries. It extracts limestone from its open-pit quarries and underground mines and then processes it for sale as pulverized limestone, aggregate, quicklime, hydrated lime, and lime slurry. The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Missouri, Oklahoma and Texas through its subsidiaries, Arkansas Lime Company, ART Quarry TRS LLC, Colorado Lime Company, Mill Creek Dolomite, LLC, Texas Lime Company, U.S. Lime Company, and others.
United States Lime & Minerals, Inc. Announces Unaudited Consolidated Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014