United States Lime & Minerals, Inc (USLM) has reported 71.48 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $3.92 million, or $0.70 a share in the quarter, compared with $2.29 million, or $0.41 a share for the same period last year. Revenue during the quarter grew 9.18 percent to $34.17 million from $31.29 million in the previous year period. Gross margin for the quarter expanded 428 basis points over the previous year period to 21.76 percent. Total expenses were 85.26 percent of quarterly revenues, down from 90.07 percent for the same period last year. This has led to an improvement of 481 basis points in operating margin to 14.74 percent.
Operating income for the quarter was $5.04 million, compared with $3.11 million in the previous year period.
“We are pleased that our 2016 operating results improved over last year, leaving us with $75 million in cash at December 31, 2016, compared to $60 million at December 31, 2015, and no debt,” said Timothy W. Byrne, President and Chief Executive Officer. “With our diverse customer base, overall demand for our lime and limestone products increased in the fourth quarter and full-year 2016, although pricing remains a challenge in the current competitive environment,” Mr. Byrne added.
Working capital increases
United States Lime & Minerals, Inc has recorded an increase in the working capital over the last year. It stood at $95.93 million as at Dec. 31, 2016, up 15.27 percent or $12.71 million from $83.22 million on Dec. 31, 2015. Current ratio was at 11.53 as on Dec. 31, 2016, up from 10.52 on Dec. 31, 2015.
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