Eagle Materials posts 47% Q2 earnings decrease

Eagle Materials posts 47% Q2 earnings decrease
Published: 23 October 2007

Eagle Materials Inc reports that, for the quarter ended September 30, its revenues and net earnings were $210.5m and $34.8m, respectively. The company s revenues decreased 18% from the prior year second quarter and net earnings decreased 47% from the same period. The company s diluted earnings per share for the second quarter of fiscal 2008 were $0.73 compared with $1.32 in the same period a year ago, a 44% decline. Since June 30, 2007, Eagle has repurchased around four million shares of its stock, at an average purchase price of $38.31. This leaves 1.,489,500 shares available under its current repurchase authorization. Dallas-based Eagle Materials produces and distributes gypsum wallboard, cement, recycled paperboard and concrete and aggregates.