US: Eagle Materials Inc. has reported its financial results for the 2012 fiscal year and the fiscal fourth quarter that ended on 31 March 2012. Its results showed that the group's revenue was up by 7% for the fiscal year, to US$495m, and cash flow from operations was US$60.2m, up by 37%. In the quarter ending 31 March 2012, the company netted revenues of US$116.8m, a 22% year-on-year increase.
Eagle said that its low cost operations continued to execute well during the 2012 fiscal year and that it was beginning to see improving construction activity across most of its markets. Eagle's earnings began to improve during the second half of fiscal 2012 and accelerated during the fourth quarter.
The group's Gypsum Wallboard and Paperboard division saw an operational income of US$23.3m, an massive increase of 74% compared to the 2011 fiscal year. Revenues from Gypsum Wallboard and Paperboard were US$295.9m for the 2012 fiscal year, 9% higher than that seen in 2011.
The Gypsum Wallboard and Paperboard division reported fourth quarter operating earnings of US$15.1m compared to an operating loss of US$0.4m in the same quarter of the 2011 fiscal year. The increase in operating earnings was primarily due to higher net wallboard sales prices and increased paperboard sales volumes offset by lower wallboard sales volumes.
Gypsum Wallboard and Paperboard revenues for the fourth quarter totalled US$79.9m, a 23% increase from the same quarter in 2011. The average gypsum wallboard net sales price for this quarter was US$118.86/MSF, 39% greater than the same quarter in 2011. Gypsum wallboard sales volumes of 397MMSF were down by approximately 7% from the fourth quarter of the 2011 fiscal year.
