United States Lime & Minerals Inc. Reports Operating Results (10-K)
United States Lime & Minerals Inc. has a market cap of $248.7 million; its shares were traded at around $38.84 with a P/E ratio of 13.8 and P/S ratio of 1.9. United States Lime & Minerals Inc. had an annual average earning growth of 26.3% over the past 10 years. GuruFocus rated United States Lime & Minerals Inc. the business predictability rank of 3-star.
Highlight of Business Operations: Arkansas Lime operates the Batesville Quarry and has hydrated lime and limestone production facilities on a second site linked to the Quarry by its own standard-gauge railroad. The active quarry operations cover approximately 725 acres of land containing a known deposit of high-quality limestone. The average thickness of the high-quality limestone deposit is approximately 70 feet, with an average overburden thickness of 35 feet. Arkansas Lime also owns approximately 325 additional acres containing high-quality limestone deposits adjacent to the Quarry but separated from it by a public highway (the South Quarry). The average thickness of the South Quarry high-quality limestone deposit is approximately 55 feet, with an average overburden of 20 feet. The aggregate in-place reserves for the 1,050 acres, as of December 31, 2010, were approximately 26 million tons of proven reserves. During 2008 and 2009, the Company developed the South Quarry by constructing a bridge for traffic on the highway to allow transportation of the limestone under the highway at a total cost of approximately $2.6 million. The Company also spent approximately $2.9 million in 2008 and 2009 primarily for contract development work on the South Quarry, including removal of the overburden from reserves totaling approximately three years of limestone production requirements. Limestone production from the South Quarry began in the first quarter 2010. In 2005, the Company acquired an additional approximately 2,500 acres of land in nearby Izard County, Arkansas. The in-place high-
The Company incurred capital expenditures related to environmental matters of approximately $787 thousand, $480 thousand and $1.0 million in 2010, 2009 and 2008, respectively. The Companys recurring costs associated with managing and disposing of potentially hazardous substances (such as fuel and lubricants used in operations) and maintaining pollution control equipment amounted to approximately $597 thousand, $715 thousand and $825 thousand in 2010, 2009 and 2008, respectively.
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