-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FfiBVfr1uvvOM7FMX43uyCbQXn2XMlrAiofjlS9BQegtPSrKceTeF+Wwu9nhH7F+ Xz5uDoxxfkGo0ergQ7ZObA== 0000891092-04-003195.txt : 20040714 0000891092-04-003195.hdr.sgml : 20040714 20040713175204 ACCESSION NUMBER: 0000891092-04-003195 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040713 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040714 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEXAS INDUSTRIES INC CENTRAL INDEX KEY: 0000097472 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 750832210 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04887 FILM NUMBER: 04912667 BUSINESS ADDRESS: STREET 1: 1341 W MOCKINGBIRD LN STREET 2: STE 700W CITY: DALLAS STATE: TX ZIP: 75247-6913 BUSINESS PHONE: 9726476700 8-K 1 e18390_8k.txt FORM 8-K ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) JULY 13, 2004 TEXAS INDUSTRIES, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) DELAWARE 1-4887 75-0832210 - ---------------------------- ---------------- ------------------- (State or other jurisdiction (Commission File (IRS Employer of incorporation) Number) Identification No.) 1341 West Mockingbird Lane, Dallas, Texas 75247 - ----------------------------------------- ------------------- (Address of principal executive offices (Zip Code) Registrant's telephone number, including area code (972) 647 6700 - -------------------------------------------------------------------------------- (Former name or former address if changed since last report) ================================================================================ Item 7 FINANCIAL STATEMENTS AND EXHIBITS Exhibits Item 12 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On July 13, 2004, Texas Industries, Inc. (the "Registrant") issued a press release announcing results for the fiscal year-ended May 31, 2004. A copy of the Press Release is furnished with this report as Exhibit 99.1, and is incorporated herein by reference. The information in this report is being furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934, as amended and pursuant to Item 12 of Form 8-K, will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TEXAS INDUSTRIES, INC. (Registrant) Date: July 13, 2004 By: /s/ Robert C. Moore ---------------------------------- Robert C. Moore Vice President and General Counsel 2 EXHIBIT INDEX Exhibit No. Subject Matter 99.1 Press Release dated July 13, 2004 3 EX-99.1 2 e18390ex991.txt PRESS RELEASE Exhibit 99.1 TXI Reports Fourth Quarter Results; Steel Profit at Record Level DALLAS, July 13 /PRNewswire-FirstCall/ -- Texas Industries, Inc. (NYSE: TXI) today reported net income of $37.6 million ($1.59 per share) for the quarter ended May 31, 2004. The same quarter last year showed a loss of $7.6 million ($.36 per share). "The trend of improving margins continued in the fourth quarter," stated Mel Brekhus, Chief Executive Officer. "Realized steel prices climbed by 33% compared to the third quarter, outpacing unprecedented increases in raw material costs. Cement price increases announced earlier in the calendar year are also taking hold." Steel operating profit of $48.4 million, a record, compared to a loss of $19.0 million in last year's fourth quarter. Steel shipments improved 19% while realized prices were up 60%. Cement, aggregate and concrete operations generated an operating profit of $31.0 million, up from $24.0 million a year ago. Major product shipments were up 5-12%; realized prices were equal to or slightly better than those of a year ago. "Fourth quarter net income was a record for Texas Industries," added Brekhus. "More importantly, current market and industry conditions are consistent with continued robust earnings." The Company's year-end teleconference will be held tomorrow, July 14, 2004 at 10:00 a.m. Central Time. A real-time webcast of the conference is available by logging on to TXI's website at http://www.txi.com . Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the impact of competitive pressures and changing economic and financial conditions on the Company's business, construction activity in the Company's markets, abnormal periods of inclement weather, changes in costs of raw materials, fuel and energy, the impact of environmental laws and other regulations which are more fully described in the Company's Annual Report on SEC Form 10-K. TXI is a leading supplier of building materials, primarily cement and structural steel. Cement operations serve Texas and California, the two largest cement markets in the nation. Structural steel products are distributed throughout North America. TXI SUMMARY OF EARNINGS (Unaudited) (In thousands except per share) Quarter ended Year ended May 31, May 31, 2004 2003 2004 2003 Net sales $519,936 $364,031 $1,672,503 $1,364,109 Costs and expenses 467,257 374,766 1,608,656 1,404,500 Loss on early retirement of debt 1,056 --- 12,302 --- 51,623 (10,735) 51,545 (40,391) Income taxes (benefit) 14,002 (3,181) 14,126 (16,194) 37,621 (7,554) 37,419 (24,197) Cumulative effect of accounting change - net of income taxes --- --- (1,071) --- NET INCOME (LOSS) $37,621 $(7,554) $36,348 $(24,197) EARNINGS (LOSS) PER SHARE Basic $1.77 $(0.36) $1.72 $(1.15) Diluted $1.59 $(0.36) $1.69 $(1.15) BUSINESS SEGMENT INFORMATION CAC Net sales $212,119 $197,157 $767,179 $718,118 Operating profit 31,016 23,954 122,809 80,718 Steel Net sales 307,817 166,874 905,324 645,991 Operating profit (loss) 48,445 (19,049) 44,119 (48,633) SOURCE Texas Industries, Inc. -0- 07/13/2004 R /CONTACT: Kenneth R. Allen, Vice President and Treasurer of Texas Industries, Inc., +1-972-647-6730, or fax, +1-972-647-3964, or investor@txi.com / /Web site: http://www.txi.com / (TXI) CO: Texas Industries, Inc. ST: Texas, California IN: CST MNG SU: CCA ERN MAV -----END PRIVACY-ENHANCED MESSAGE-----