U.S. Silica Second Quarter Revenue Jumps 24%
U.S. Silica Holdings Inc. recently announced net income of $20.2 million for the second quarter ended June 30, 2013, compared with net income of $19.5 million for the same period in 2012. Total company revenue was $129.8 million, an increase of 24.1% compared with $104.6 million for the same period in 2012. The increase was reportedly driven primarily by additional volumes in the oil and gas segment, including initial contributions from the company’s new frac sand facility in Sparta, Wis. Revenue for the Industrial and Specialty Products segment was $52.1 million, vs. $50.1 million for the same period in 2012.
“We are extremely pleased with our second quarter performance, again delivering adjusted EBITDA at the high end of our guidance range,” said Bryan Shinn, president and CEO. “For the company as a whole, the bottom line is that our business is very strong, and we expect robust second half performance, driven by record oil and gas demand and continued margin expansion in our industrials business.”
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