Ceramic Industry News

Martin Marietta Announces Fourth Quarter And 2000 Results

Martin Marietta Materials, Inc. has reported fourth quarter and 2000 net sales and earnings. For the quarter, net sales of $314.1 million decreased 6%, compared with the prior-year period. Fourth quarter 2000 earnings from operations of $39.9 million decreased 32% when compared with the same period in 1999, while net earnings of $20.5 million decreased 37%. Earnings were $0.44 per diluted share, compared with $0.70 in the prior-year period. For the full year 2000, net sales were $1.333 billion, an increase of 6% over net sales of $1.259 billion in the prior year. Earnings from operations declined, for the first time since 1991, to $202.5 million, and net earnings declined to $112.0 million, down by 6% and 11%, respectively, when compared with the prior year. Net earnings were $2.39 per diluted share, compared with $2.68 in the prior year. Earnings for the year ended December 31, 2000, reflect a $10.2 million, or $0.14 per share, reduction in other income to $8.2 million.

The company hosted a conference call on January 24. The teleconference will be available for replay until January 31, 2001, either through the company's website at http://www.martinmarietta.com or by calling (719) 457-0820, access code 449697.

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