Ceramic Industry News

Martin Marietta Announces Fourth Quarter And 2000 Results

January 29, 2001
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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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