Dallas-based United States Lime & Minerals reported revenues up to $35.4 million for its fourth quarter and full-year 2014 results.
In the fourth quarter 2014, revenues increased to $35.4 million from $30.1 million in the comparable 2013 quarter, an increase of $5.3 million, or 17.6%.
Revenues from the company’s lime and limestone operations in the fourth quarter 2014 increased $5.7 million, or 19.8%, to $34.3 million from $28.7 million in the comparable 2013 quarter, while revenues from its natural gas interests decreased $0.4 million, or 26.5%, to $1.1 million from $1.4 million in the comparable prior year quarter.
For the full-year 2014, revenues increased to $149.8 million from $133.8 million in 2013, an increase of $16.1 million, or 12.0%.
Revenues from the company’s lime and limestone operations in the full-year 2014 increased $16.6 million, or 12.9%, to $144.6 million from $128.0 million in 2013, while revenues from its natural gas interests decreased $0.5 million, or 8.5%, to $5.3 million from $5.8 million in the prior year.
“We are pleased that increased sales volumes for our lime and limestone products resulted in increased revenues in the fourth quarter 2014, compared to the fourth quarter 2013, even after considering the improved weather conditions this year,” said Timothy W.Byrne, president.
“In 2015, due to lower oil and gas prices, we expect to see a continued decline in lime and limestone sales to our oil and gas services customers and less revenues from our natural gas interests. However, we expect to benefit from these lower prices, as the advantages of lower transportation, freight and fuel costs should substantially offset the negative impacts of the lower revenues.”
Byrne added, “With our ongoing strong cash flows from operations and balance sheet, we plan to continue paying dividends, and to pay off our term loans during 2015.”