United States Lime & Minerals, Inc. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2013
January 29, 2014 at 04:17 pm EST
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United States Lime & Minerals, Inc. reported unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company's revenues decreased to $30.1 million from $31.9 million in the fourth quarter 2012, a decrease of $1.8 million, or 5.6%. Revenues from the company's lime and limestone operations in the fourth quarter 2013 decreased $1.5 million, or 5.1%, to $28.7 million from $30.2 million in the comparable 2012 quarter, while revenues from its natural gas interests decreased $0.2 million, or 13.6%, to $1.4 million from $1.7 million in the comparable prior year quarter. Net income of $2.6 million or $0.47 per share diluted compared to net income of $3.8 million or $0.68 per share diluted in the fourth quarter 2012, a decrease of $1.2 million, or 30.7%. Operating profit was $3,951,000 against $5,614,000 a year ago.
For the full year, the company's revenues decreased to $133.8 million from $138.5 million in 2012, a decrease of $4.8 million, or 3.4%. Revenues from the company's lime and limestone operations for full-year 2013 decreased $3.4 million, or 2.6%, to $128.0 million from $131.4 million in 2012, while revenues from its natural gas interests decreased $1.4 million, or 19.1%, to $5.8 million from $7.1 million in the prior year. Net income decreased by $1.6 million, or 9.9%, to $14.8 million or $2.66 per share diluted from $16.4 million or $2.87 per share diluted in 2012. Operating profit was $21,651,000 against $24,245,000 a year ago.
For the quarter, the company's production volumes from the company's natural gas interests for the fourth quarter 2013 totaled 233 thousand MCF, sold at an average price of $6.20 per MCF, compared to 284 thousand MCF, sold at an average price of $5.89 per MCF, in the comparable 2012 quarter.
For the full year, the company's production volumes for full-year 2013 from natural gas interests totaled 983 thousand MCF, sold at an average price of $5.86 per MCF, compared to 2012 when 1.2 BCF was produced and sold at an average price of $5.74 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. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2013
UNITED STATES LIME & MINERALS, INC. 
