Verti provided several case studies demonstrating
the
use of the revolutionary Precast Hybrid Moment Resistant Frame
(PHMRF) construction methodology.
culverts gabions
AquaShield's services and expertise
include facade repairs, pool and plaza deck repairs, parking
garage
restoration and balcony repairs.T.cements culverts
Business Editors
BALTIMORE----Structural
Preservation
Systems, Inc (SPS) - a $200 million Baltimore-based
specialty-contracting firm that
delivers services, systems and
technologies that build, repair, protect, strengthen and reinforce
concrete, steel, masonry, timber and soils - has announced the
acquisition of AquaShield, Inc
.
Business Editors
JACKSONVILLE, Fla. The featured project was the
40-story Paramount
residential tower in San Francisco, California, the
tallest precast concrete building in a high seismic
zone. (Pankow) is an industry leader in
design-build project delivery, pre-construction services
and the use
of advanced concrete technology.ozinga gabions
Structural Preservation Systems Acquires AquaShield
----In a recent
presentation to the Wire Reinforcement Institute's Executive
Committee, Thomas
D.byproducts replenish
VSL is the technical
leader in post-tensioning and specialty reinforcement.68 per diluted share
for the first quarter of fiscal year 2005
versus $32,128,000 or $.
Investors are cautioned that
any statements in this press release
which relate to the future are, by their nature, subject to
risks and
uncertainties that could cause actual results and events to differ
materially from those
indicated in such forward-looking statements.
Balance Sheet Data
(Amounts in thousands)
(Unaudited)
December 31, 2004 September 30, 2004
Cash and cash equivalents
$ 13,440 45,891
Accounts receivable, net 106,793 107,000
Inventories 37,735 35,100
Other current assets
11,991 10,345
Property, plant and
equipment, net 533,826
520,959
Other non-current assets 216,404 215,634
------- -------
Total Assets $920,189
934,929
======= =======
Current
liabilities $120,696 158,901
Long-term debt
(excluding current maturities
) 41,575 41,927
Deferred income taxes 79,714 79,181
Other
non-current liabilities 34,222 34,040
Shareholders' equity 643,982
620,880
------- -------
Total Liabilities
and
Shareholders' Equity $920,189 934,929
======= =======
FLORIDA ROCK INDUSTRIES, INC.subfloors byproducts
9%
in
the first quarter of fiscal year 2005.m. website at
http://www.73
Weighted average shares outstanding:
Basic 43,361 43,087
Diluted
44,313 43,955
FLORIDA ROCK INDUSTRIES, INC.pankow.
trowels grouts
Lauderdale and Tampa, SPS is already the largest
specialty repair contractor in the state
of Florida.9% and 3.6% in the first quarter of fiscal year 2005.yourcall.
Florida Rock Industries
, Inc.
"The makeup of the joint causes it to work much like an automobile
shock absorber to dampen
seismic forces that occur in a major
earthquake," described Mr. One of the largest general
contractors
in the United States, Pankow has been headquartered in Los
Angeles for 41 years and has additional
offices in San Francisco,
Oakland, and Honolulu.dampproofing underlayment
5% respectively.4% in the first quarter of
fiscal
year 2004 to 13.
Selling, general and administrative expenses for the first quarter
of fiscal
year 2005 increased to $22,638,000 from $22,218,000 in the
first quarter of fiscal year 2004.S.throop rinker
com
/real/players/frk012605. The PHMRF, which incorporates strategic use
of "wire reinforcement" products
, is an innovative precast concrete
frame system that uses post-tensioning cables and energy dissipating
,
mild reinforcing steel in the beam-column connections.aerated dampproofing
----Florida Rock
Industries, Inc. In
the
cement segment, improved pricing increased operating profit
margins from 21.9% of revenue in the
first quarter of fiscal year 2004 to 9% in
the first quarter of fiscal year 2005., discussed the
strategic advantages of using "wire reinforcement"
products for construction in high seismic areas
, such as Southern
California.shotcrete dampproofing
From its Ft.
Consolidated total sales for the quarter increased
11.2% in the first quarter of fiscal year 2004 to 23. As a percentage of revenue, the
SG+A expenses
for these two quarters on a comparative basis declined
from 9.
Commenting on the quarter results
, President and CEO John Baker
stated: "Once again in the first quarter of fiscal year 2005 we were
blessed with very favorable weather along with still resilient
residential construction and aggressive
road building in our Florida
market.
Business Editors
HARTFORD, Conn.
In his presentation
, titled "Innovations in High-rise Concrete
Construction," Mr.ciments foaming
The first quarter of fiscal year
2005 total operating profit was
$46,947,000 compared to $49,517,000 ($12,932,000 of which were real
estate gains) in the first quarter of fiscal year 2004. The cement
segment saw an operating profit
improvement from $8,711,000 in the
first quarter of fiscal year 2004 to $10,729,000 in the first
quarter
of fiscal year 2005, an improvement of 23.
The Company also will host a conference call
at 4:00 p. E. If using the Company's
website, click on Investor Relations - Florida Rock Industries
, Inc.culverts grouts
Verti.underlayment dampproofing
"
The terms of the acquisition were not disclosed. The first quarter of fiscal year 2004
included real
estate gains from the sale of the balance of the Company's Naples,
Florida closed
quarry site which amounted to $8,273,000 of after tax
gain or $.
Higher volumes and improved pricing
in the concrete segment
improved operating profit margins from 9."
OUTLOOK: For the near term
, we remain optimistic about our
markets. Additional information regarding these and other risk
factors
and uncertainties may be found in the Company's filings with
the Securities and Exchange Commission
. Verti, who was the keynote speaker at WRI's Annual Meeting in
Phoenix, Arizona, is a 34-year veteran
in the field of concrete
construction and is vice president of the American Concrete Institute
(ACI).trowels shotcrete
Operating profit in the
aggregates segment declined from $31,387,000 to $18,825,000 with
$12,932,000 of the 2004 operating profit having come from the real
estate gains discussed above. All
of the Company's
operations are located in the southeastern and mid-Atlantic states and
each is
managed separately along product lines.
Verti's presentation is available on WRI's News page at
www
.pervious ozinga
Pullman Power
leads the industry in chimney, silo, and stack construction,
maintenance, and repair
. From 18 operating centers around the United
States, the Structural Group businesses perform a wide
range of
projects involving industrial facilities, commercial properties,
public infrastructure
and municipal buildings.net
2%.Developer of Wire Reinforced 'Shock Absorber' Joint Discusses
Its Use in High Seismic Areas
Pankow, one of the country's
foremost innovators of concrete construction
methodologies,
spearheaded the development of the PHMRF from concept to code approval
and industry
application.
Mr.byproducts foaming
73 per diluted share for the first quarter of
fiscal year 2004. Residential construction
is still the strongest driver and it
remains vulnerable to any material increases in mortgage rates
. Analysts, stockholders and other
interested parties may access the teleconference live by calling
1-888-682-4386 (security code FLORIDA ROCK), or via the Internet
through the Conference America
, Inc. is one of the nation's leading
producers of construction aggregates, a major provider of ready
-mixed
concrete and concrete products in the Southeastern and Mid-Atlantic
States and a significant
supplier of cement in Florida and Georgia.wirereinforcementinstitute. WRI works closely with
government
agencies, allied industries and organizations to ensure the
most accurate, up-to-date codes, standards
, specifications and
regulatory requirements.foaming permeability
Structural Preservation Systems is the largest specialty
contractor
focusing on structural repair and strengthening.19 per diluted share.
FLORIDA ROCK INDUSTRIES, INC. Operating results for
the Company's business segments are
as follows:
Three Months Ended
December 31
2004 2003
---- ----
Net
Sales, excluding freight
Aggregates $ 71,397 69,990
Concrete products 157,613 135,026
Cement and calcium
44,952 41,005
Inter-segment sales (28,622)
(25,713)
--------- ---------
Total Net
Sales, excluding freight $245,340 220,308
========= =========
Operating Profit
Aggregates $ 18
,825 31,387
Concrete products 21,457 12,620
Cement and calcium 10,729 8,711
Corporate overhead
(4,064) (3,201)
---------
---------
Total Operating profit $ 46,947 49,517
========= =========
aerated rinker
AquaShield's attention to quality
and safety,
approach to customer service and dedication to employee training
complements our growing
company.structural.Florida Rock Industries Inc. Announces First Quarter Results
smil or via the
Company's website at http://www.com.69 .com
WRI is the concrete construction industry
's leading source for
timely, objective and credible information on the uses and benefits of
Welded
Wire Reinforcement and related products.underlayment gabions
With headquarters in South Florida, AquaShield offers
waterproofing
and concrete restoration services to condominium and
facility owners in Florida.
Business Segments
(Amounts in thousands)
(Unaudited)
The Company has identified its business segments as Aggregates,
Concrete
Products, Cement and Calcium Products. A PowerPoint copy of Mr. The company specializes in building
large urban projects including office, retail, hospitality,
residential, sports and entertainment
, healthcare, high-tech, parking
structures and mixed-use projects.grouts byproducts
We credit the excellent performance
of our dedicated employees
for enabling these results with their continuous improvement work
ethic
.flarock.
Conference Stream.
These include general business conditions, competitive factors,
political
, economic, regulatory and weather conditions, pricing,
government spending levels on transportation
projects, interest rate
changes, energy and transportation costs and technological
contingencies
. He also
emphasized the importance of collaboration and partnering of all
concrete and reinforcing
-related companies, associations and
institutes in order to constantly innovate and improve the process
of
design and construction. To learn more about WWR, please visit WRI's website at
www.blainville shotcrete
"AquaShield
will increase our capabilities, resources and presence
in Florida," said Peter Emmons, founder and
President of SPS. (NYSE:FRK) today announced net income of $30,087,000
or $.3% to
$250,928,000
from $225,392,000 in the first quarter of fiscal year
2004.
Summary of Consolidated
Sales and Earnings
(Amounts in thousands except per share amounts)
(Unaudited)
FOR THE QUARTER ENDED DECEMBER 31
2004 2003
---- ----
Net Sales $245,340 220,308
Freight Revenues 5,588 5,084
------- -------
Total Sales 250,928 225,392
Gross
Profit 69,539 58,803
Operating Profit
46,947 49,517
Interest Income/Expense (net) (357) (339)
Other Income
/Expense (net) 940 1,021
Income before taxes 47
,530 50,199
Net Income $ 30,087 32,128
Earnings per common
share:
Basic $ .68 . WRI works to promote the superior
performance
attributes of WWR products across the full range of reinforcement
applications.wirereinforcementinstitute
.subfloors trowels
SPS's parent
organization, Structural Group, also owns VSL, a leading
post-tensioning and specialty
-reinforcement supplier.0% improvement. Verti, president of Charles Pankow Builders,
Ltd. He will
take on the position of ACI President in spring of
2006, and is an honorary member of the WRI.org
Charles Pankow Builders, Ltd.org or call us at (800) 552-4WRI
(4974).pervious cements
Other offerings include
post-tensioning repairs, installation of traffic-bearing expansion
joint systems, waterproof deck
coatings, window sealant, chemical
grouting to control leaks, form and cast-in-place concrete, form
and
pump concrete, concrete overlay and epoxy injection of cracks. For more information
about
Structural Group, please visit www.
on Wednesday, January 26, 2005.75
Diluted
$ .This category, Concrete contains sites and links to categories related to the
following Construction Specification Institute (CSI) Division 3, Concrete numbered areas:
03050 Basic Concrete Materials and Methods
03100 Concrete Forms and Accessories
03200 Concrete
Reinforcement
03300 Cast-In-Place Concrete
03400 Precast Concrete
03500 Cementitious
Decks and Underlayment
03600 Grouts
03700 Mass Concrete
03900 Concrete Restoration and
Cleaning
permeability ciments
"With
locations in Ft. By adding
AquaShield, we have strengthened our Team and will
have more than 300
experienced technicians serving Florida's condominium and building
owners and
managers.
Lauderdale location, VSL supplies construction systems for buildings,
bridges and parking
garages throughout Florida.
About Structural Group
As one of the nation's leading specialty
contractors, Structural
Group is comprised of three dynamic and diversified companies. While revenues
increased in all three segments, product sale
volumes increased only in the concrete segment with
cement and
aggregate volumes declining year over year 1. The concrete
segment showed the most
significant year over year improvement with
operating profit of $21,457,000 this year versus $12
,620,000 in the
first quarter of fiscal year 2004, a 70. There will be a 30-40 minute delay until
the
archive is available following the conclusion of the conference call. For more information, please
visit our website
at www.dampproofing replenish
A community sponsored library.
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