Business
United States Lime & Minerals Reports Fourth Quarter and Full Year 2019 Results and Declares Increased Regular Quarterly Cash Dividend
DALLAS, Jan. 30, 2020 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2019 results: The
About this update from United States Lime & Minerals, Inc.
[{"type":"text","content":"DALLAS, Jan. 30, 2020 (GLOBE NEWSWIRE) -- United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported fourth quarter and full year 2019 results: The Company’s revenues in the fourth quarter 2019 were $38.0 million, compared to $34.6 million in the fourth quarter 2018, an increase of $3.3 million, or 9.6%. For the full year 2019, revenues were $158.3 million, compared to $144.4 million in the full year 2018, an increase of $13.8 million, or 9.6%.\n The Company’s gross profit was $9.8 million in the fourth quarter 2019, compared to $6.6 million in the fourth quarter 2018, an increase of $3.2 million, or 47.7%. Gross profit in the full year 2019 was $41.7 million, an increase of $11.2 million, or 36.7%, from $30.5 million in the full year 2018. Selling, general and administrative (“SG&A”) expenses were $3.3 million in the fourth quarter 2019, compared to $2.7 million in the fourth quarter 2018, an increase of $0.6 million, or 24.0%. SG&A expenses were $11.5 million in the full year 2019, compared to $10.5 million in the full year 2018, an increase of $1.0 million, or 9.7%. The increases in SG&A expenses were primarily from increased personnel and legal expenses in the fourth quarter 2019. The Company’s operating profit was $5.6 million in the fourth quarter 2019, compared to $4.0 million in the fourth quarter 2018, an increase of $1.6 million, or 40.0%. The operating profit was $29.2 million in the full year 2019, compared to $20.0 million in the full year 2018, an increase of $9.2 million, or 46.2%. During the fourth quarter 2019, the Company recognized a $0.9 million impairment charge on long lived assets, which reduced operating profit in the 2019 periods. Income tax expense was $1.0 million in the fourth quarter 2019, compared to $0.2 million in the fourth quarter 2018. Income tax expense was $4.8 million in the full year 2019, compared to $1.9 million in the full year 2018. The Company reported net income of $5.0 million ($0.89 per share diluted) in the fourth quarter 2019, compared to $4.2 million ($0.75 per share diluted) in the fourth quarter 2018, an increase of $0.8 million, or 18.0%. The Company reported net income of $26.1 million ($4.64 per share diluted) in the full year 2019, compared to $19.7 million ($3.51 per share diluted) in the full year 2018, an increase of $6.4 million, or 32.4%. In the fourth quarter 2...