United States Lime & Minerals Inc. (USLM, Financial) filed Quarterly Report for the period ended 2012-09-30.
United States Lime & Minerals, Inc. has a market cap of $249.5 million; its shares were traded at around $43.05 with a P/E ratio of 15.6 and P/S ratio of 1.8. United States Lime & Minerals, Inc. had an annual average earning growth of 13.6% over the past 10 years. GuruFocus rated United States Lime & Minerals, Inc. the business predictability rank of 2.5-star.
Revenues in the third quarter 2012 decreased to $34.1 million from $39.2 million in the comparable prior year quarter, a decrease of $5.1 million, or 12.9%. Revenues from the Companys Lime and Limestone Operations in the third quarter 2012 decreased $3.1 million, or 8.7%, to $32.6 million from $35.7 million in the comparable 2011 quarter, while revenues from its Natural Gas Interests decreased $2.0 million, or 55.8%, to $1.6 million from $3.5 million in the comparable prior year quarter. For the nine months ended September 30, 2012, revenues decreased to $106.6 million from $109.1 million in the comparable 2011 period, a decrease of $2.4 million, or 2.2%. Revenues from the Companys Lime and Limestone Operations in the first nine months 2012 increased $2.0
Included in gross profit for the third quarter and first nine months 2012 were $7.0 million and $22.2 million, respectively, from the Companys Lime and Limestone Operations, compared to $10.1 million and $25.4 million, respectively, in the comparable 2011 periods, reflecting decreases of $3.1 million, or 30.9%, and $3.2 million, or 12.6%, in the third quarter and first nine months 2012, respectively, compared to last years comparable periods. The Companys gross profit margin as a percent of revenues for the Companys Lime and Limestone Operations decreased to 21.4% and 22.0% for the third quarter and first nine months 2012, respectively, from 28.3% and 25.6%, respectively, in last years comparable periods. The reduced gross profits and gross profit margins in the third quarter and first nine months 2012, compared to the comparable 2011 periods, resulted primarily from the $1.0 million and $2.6 million in contract stripping costs incurred in the third quarter and first nine months 2012, respectively, at two of the Companys quarries, and, for the third quarter 2012 compared to the comparable 2011 quarter, reduced revenues.
Selling, general and administrative expenses (SG&A) was $2.1 million in the third quarter 2012, compared to $2.3 million in the third quarter 2011, a decrease of $207 thousand, or 9.0%. As a percentage of revenues, SG&A was 6.1% and 5.9% in the 2012 and 2011 quarters, respectively. SG&A was $6.7 million in the first nine months 2012, compared to $6.6 million in 2011, an increase of $121 thousand, or 1.8%. As a percentage of revenues, SG&A was 6.3% and 6.0% in the first nine months 2012 and 2011, respectively.
The Companys net income was $3.9 million ($0.71 per share diluted) in the third quarter 2012, compared to net income of $7.1 million ($1.11 per share diluted) in the third quarter 2011, a decrease of $3.1 million, or 44.1%. Net income in the first nine months 2012 was $12.6 million ($2.19 per share diluted), a decrease of $5.0 million, or 28.5%, compared to the first nine months 2011 net income of $17.7 million ($2.76 per share diluted). The third quarter and first nine months 2012 earnings per share diluted were favorably impacted by $0.09 and $0.29 per share, respectively, by the Companys repurchase of 200,000 shares of its common stock during the third quarter 2011 and 700,000 shares of common stock in the first quarter 2012.
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United States Lime & Minerals, Inc. has a market cap of $249.5 million; its shares were traded at around $43.05 with a P/E ratio of 15.6 and P/S ratio of 1.8. United States Lime & Minerals, Inc. had an annual average earning growth of 13.6% over the past 10 years. GuruFocus rated United States Lime & Minerals, Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
Net cash provided by operating activities was $24.9 million in the nine months ended September 30, 2012, compared to $29.1 million in the comparable 2011 period, a decrease of $4.2 million, or 14.5%. Net cash provided by operating activities is composed of net income, depreciation, depletion and amortization (DD&A), deferred income taxes and other non-cash items included in net income, and changes in working capital. In the first nine months 2012, cash provided by operating activities was principally composed of $12.6 million net income, $11.2 million DD&A and $1.9 million deferred income taxes, compared to $17.7 million net income, $10.4 million DD&A and $3.5 million deferred income taxes in the first nine months 2011. The most significant changes in working capital items in the first nine months 2012 were increases in inventories and trade receivables of $1.6 million and $734 thousand, respectively. The most significant changes in working capital in the first nine months 2011 were an increase in trade receivables of $4.9 million and a decrease of $1.1 million in inventories. The increases in trade receivables in both periods primarily resulted from an increase in revenues in the third quarter of each year compared to the fourth quarter of the corresponding prior year.Revenues in the third quarter 2012 decreased to $34.1 million from $39.2 million in the comparable prior year quarter, a decrease of $5.1 million, or 12.9%. Revenues from the Companys Lime and Limestone Operations in the third quarter 2012 decreased $3.1 million, or 8.7%, to $32.6 million from $35.7 million in the comparable 2011 quarter, while revenues from its Natural Gas Interests decreased $2.0 million, or 55.8%, to $1.6 million from $3.5 million in the comparable prior year quarter. For the nine months ended September 30, 2012, revenues decreased to $106.6 million from $109.1 million in the comparable 2011 period, a decrease of $2.4 million, or 2.2%. Revenues from the Companys Lime and Limestone Operations in the first nine months 2012 increased $2.0
Included in gross profit for the third quarter and first nine months 2012 were $7.0 million and $22.2 million, respectively, from the Companys Lime and Limestone Operations, compared to $10.1 million and $25.4 million, respectively, in the comparable 2011 periods, reflecting decreases of $3.1 million, or 30.9%, and $3.2 million, or 12.6%, in the third quarter and first nine months 2012, respectively, compared to last years comparable periods. The Companys gross profit margin as a percent of revenues for the Companys Lime and Limestone Operations decreased to 21.4% and 22.0% for the third quarter and first nine months 2012, respectively, from 28.3% and 25.6%, respectively, in last years comparable periods. The reduced gross profits and gross profit margins in the third quarter and first nine months 2012, compared to the comparable 2011 periods, resulted primarily from the $1.0 million and $2.6 million in contract stripping costs incurred in the third quarter and first nine months 2012, respectively, at two of the Companys quarries, and, for the third quarter 2012 compared to the comparable 2011 quarter, reduced revenues.
Selling, general and administrative expenses (SG&A) was $2.1 million in the third quarter 2012, compared to $2.3 million in the third quarter 2011, a decrease of $207 thousand, or 9.0%. As a percentage of revenues, SG&A was 6.1% and 5.9% in the 2012 and 2011 quarters, respectively. SG&A was $6.7 million in the first nine months 2012, compared to $6.6 million in 2011, an increase of $121 thousand, or 1.8%. As a percentage of revenues, SG&A was 6.3% and 6.0% in the first nine months 2012 and 2011, respectively.
The Companys net income was $3.9 million ($0.71 per share diluted) in the third quarter 2012, compared to net income of $7.1 million ($1.11 per share diluted) in the third quarter 2011, a decrease of $3.1 million, or 44.1%. Net income in the first nine months 2012 was $12.6 million ($2.19 per share diluted), a decrease of $5.0 million, or 28.5%, compared to the first nine months 2011 net income of $17.7 million ($2.76 per share diluted). The third quarter and first nine months 2012 earnings per share diluted were favorably impacted by $0.09 and $0.29 per share, respectively, by the Companys repurchase of 200,000 shares of its common stock during the third quarter 2011 and 700,000 shares of common stock in the first quarter 2012.
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