Eagle Materials shows 4Q gain

Eagle Materials shows 4Q gain
Published: 24 April 2009

Eagle Materials Inc. said Thursday its profit in the fourth-quarter for fiscal year 2009, which ended March 31, was up over 2008. This was due to a gain of US$2.9m tied to the retirement of senior notes.

Dallas-based Eagle Materials Inc posted fourth-quarter earnings of US$7m, or 16 cents per share, up 117 per cent from US$3.2m, or 7 cents per share for fiscal 2008.

For the entire fiscal year of 2009, Eagle Materials net earnings dropped 57 per cent to US$41.8m, or 95 cents per share.

That is down from US$97.8m, or $2.12 per share, from the previous year.

Revenue hit US$602.2m, a 20 per cent drop from the US$749.6m earned in 2008.

Earnings tied to cement fell 23 per cent, hitting US$82m.