Centex Construction Q3 profit rise

Centex Construction Q3 profit rise
Published: 20 January 2004

Centex Construction Products Inc said its quarterly profit rose 17 per cent, boosted by increased earnings from its gypsum wallboard and concrete and aggregates units and lower interest expense.  The Dallas-based company said net earnings in the third quarter ended December were US$18.0m, or 95 cents per share, compared with US$15.4m, or 83 cents in the year-earlier quarter.
Centex Construction, which was spun off from homebuilder Centex Corp said revenue in the quarter climbed 19 percent to US$121.3m The company said it expects fiscal 2004 earnings ranging from $3.35 to $3.45 per share, including costs related to the spin-off. Cement and wallboard consumption for the rest of 2004 and 2005 are projected to remain at near record-high levels, it said.