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Eagle Materials announces reduction in earnings for fiscal 07

Sep, 26 2006

Eagle Materials Reaffirms Fiscal Second Quarter Earnings Guidance (DALLAS, Texas) - Eagle Materials Inc. (NYSE: EXP) today announced that it is lowering its annual earnings guidance for fiscal 2007 to $3.80 to $4.20 per diluted share from $4.40 to $4.70 per diluted share. The reduction in annual earnings is primarily attributable to the accelerated decline in housing starts, which has led to weakened business conditions in its Gypsum Wallboard and associated paper businesses. Eagle also reaffirmed its earnings guidance for the second quarter of its fiscal 2007 ended September 30, 2006, of $1.30 to $1.40 per diluted share. Eagle will be presenting at the New York Society of Security Analysts Construction Materials Conference in New York City on Tuesday, September 26, 2006. Eagle's presentation is scheduled to begin at approximately 3:50 p.m. EDT and will be webcast live and may be accessed through the Eagle Materials website at http://www.eaglematerials.com . The presentation will be archived on Eagle Materials' website, http://www.eaglematerials.com , until September 26, 2007. Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard, and Concrete and Aggregates.