U.S. Silica 2013 Revenue Grows 23%
U.S. Silica Holdings Inc. recently announced financial results for the fourth quarter and full year 2013. Full year revenue totaled $546 million, an increase of 23.6% compared to $441.9 million for the full year of 2012. Overall sales volumes increased to 8.2 million tons, an increase of 13.8% over 2012 totals. Net income was $75.3 million, vs. $79.2 million in 2012.
Fourth quarter 2013 revenue totaled $149.5 million, up 25.8% compared with $118.8 million for the same period last year. Overall sales volumes increased to 2.1 million tons, a 19.9% improvement over the fourth quarter of 2012.
“In 2013, we took several steps to position our company for success going forward,” said Bryan Shinn, president and CEO. “We increased the speed with which we respond to customers by adding several new transloads near the major shale basins. We expanded the scale of our business by adding a state-of-the-art frac sand mine and plant in Sparta, Wisc., and a resin-coated sand plant in Rochelle, Ill. We strengthened our balance sheet and added top new talent to our team to support further growth of the company. For 2014, we will be focused on improving the efficiency of our supply chain, bringing our new Utica operations online, and carefully evaluating acquisition opportunities to expand our infrastructure and add additional mine production.”
For more information, visit www.ussilica.com.