Delaware
State of Other Jurisdiction of Incorporation
|
0-15661
Commission File Number
|
36-0724340
I.R.S. Employer Identification Number
|
Press Release titled “AMCOL INTERNATIONAL (NYSE:ACO) REPORTS SECOND QUARTER RESULTS”
|
Date: July 27, 2012
|
AMCOL INTERNATIONAL CORPORATION
By: /s/ Ryan F. McKendrick
Ryan F. McKendrick
President and Chief Executive Officer
|
AMCOL INTERNATIONAL CORPORATION
|
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||||||
(unaudited)
|
||||||||||||||||
(In millions, except per share data)
|
||||||||||||||||
Six Months Ended
|
Three Months Ended
|
|||||||||||||||
June 30,
|
June 30,
|
|||||||||||||||
2012
|
2011
|
2012
|
2011
|
|||||||||||||
Continuing Operations
|
||||||||||||||||
Net sales
|
$ | 493.3 | $ | 460.6 | $ | 257.5 | $ | 242.8 | ||||||||
Cost of sales
|
354.0 | 340.8 | 183.3 | 180.7 | ||||||||||||
Gross profit
|
139.3 | 119.8 | 74.2 | 62.1 | ||||||||||||
Selling, general, and administrative expenses
|
86.9 | 79.4 | 43.3 | 40.3 | ||||||||||||
Operating profit
|
52.4 | 40.4 | 30.9 | 21.8 | ||||||||||||
Other income (expense):
|
||||||||||||||||
Interest expense, net
|
(5.4 | ) | (5.5 | ) | (2.7 | ) | (2.8 | ) | ||||||||
Other, net
|
(2.7 | ) | 0.1 | (0.6 | ) | 0.5 | ||||||||||
(8.1 | ) | (5.4 | ) | (3.3 | ) | (2.3 | ) | |||||||||
Income before income taxes and income (loss) from affiliates and joint ventures
|
44.3 | 35.0 | 27.6 | 19.5 | ||||||||||||
Income tax expense
|
12.6 | 10.2 | 7.8 | 5.9 | ||||||||||||
Income before income (loss) from affiliates and joint ventures
|
31.7 | 24.8 | 19.8 | 13.6 | ||||||||||||
Income (loss) from affiliates and joint ventures
|
2.0 | 1.0 | 0.8 | (0.1 | ) | |||||||||||
Net income (loss) from continuing operations
|
33.7 | 25.8 | 20.6 | 13.5 | ||||||||||||
Discontinued Operations
|
||||||||||||||||
Income (loss) on discontinued operations
|
(0.2 | ) | 0.1 | - | 0.2 | |||||||||||
Net income (loss)
|
33.5 | 25.9 | 20.6 | 13.7 | ||||||||||||
Net income (loss) attributable to noncontrolling interests
|
(0.4 | ) | - | (0.5 | ) | - | ||||||||||
Net income (loss) attributable to AMCOL shareholders
|
$ | 33.9 | $ | 25.9 | $ | 21.1 | $ | 13.7 | ||||||||
Weighted average common shares outstanding
|
32.0 | 31.6 | 32.0 | 31.7 | ||||||||||||
Weighted average common and common equivalent shares outstanding
|
32.3 | 32.1 | 32.3 | 32.2 | ||||||||||||
Earnings per share attributable to AMCOL shareholders
|
||||||||||||||||
Basic earnings (loss) per share:
|
||||||||||||||||
Continuing operations
|
$ | 1.07 | $ | 0.82 | $ | 0.66 | $ | 0.42 | ||||||||
Discontinued operations
|
(0.01 | ) | - | - | 0.01 | |||||||||||
Net income
|
$ | 1.06 | $ | 0.82 | $ | 0.66 | $ | 0.43 | ||||||||
Diluted earnings (loss) per share:
|
||||||||||||||||
Continuing operations
|
$ | 1.06 | $ | 0.81 | $ | 0.65 | $ | 0.42 | ||||||||
Discontinued operations
|
(0.01 | ) | - | - | 0.01 | |||||||||||
Net income
|
$ | 1.05 | $ | 0.81 | $ | 0.65 | $ | 0.43 | ||||||||
Dividends declared per share
|
$ | 0.36 | $ | 0.36 | $ | 0.18 | $ | 0.18 |
AMCOL INTERNATIONAL CORPORATION
|
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS
|
||||||||
(In millions)
|
||||||||
ASSETS
|
June 30,
|
December 31,
|
||||||
2012
|
2011
|
|||||||
(unaudited)
|
* | |||||||
Current assets:
|
||||||||
Cash and equivalents
|
$ | 16.8 | $ | 23.7 | ||||
Accounts receivable, net
|
217.8 | 206.8 | ||||||
Inventories
|
148.3 | 146.6 | ||||||
Prepaid expenses
|
19.2 | 15.7 | ||||||
Deferred income taxes
|
4.2 | 5.9 | ||||||
Income tax receivable
|
11.0 | 6.9 | ||||||
Other
|
3.9 | 6.7 | ||||||
Total current assets
|
421.2 | 412.3 | ||||||
Noncurrent assets:
|
||||||||
Property, plant, equipment, mineral rights and reserves:
|
||||||||
Land
|
13.9 | 13.9 | ||||||
Mineral rights
|
49.9 | 41.9 | ||||||
Depreciable assets
|
507.5 | 482.3 | ||||||
571.3 | 538.1 | |||||||
Less: accumulated depreciation and depletion
|
291.4 | 275.5 | ||||||
279.9 | 262.6 | |||||||
Goodwill
|
69.4 | 69.5 | ||||||
Intangible assets, net
|
35.8 | 36.6 | ||||||
Investments in and advances to affiliates and joint ventures
|
26.6 | 26.4 | ||||||
Available-for-sale securities
|
3.0 | 3.8 | ||||||
Deferred income taxes
|
9.0 | 7.8 | ||||||
Other assets
|
26.5 | 23.7 | ||||||
Total noncurrent assets
|
450.2 | 430.4 | ||||||
Total Assets
|
$ | 871.4 | $ | 842.7 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$ | 50.3 | $ | 56.4 | ||||
Accrued income taxes
|
10.2 | 2.7 | ||||||
Accrued liabilities
|
58.3 | 59.0 | ||||||
Total current liabilities
|
118.8 | 118.1 | ||||||
Noncurrent liabilities:
|
||||||||
Long-term debt
|
251.0 | 260.7 | ||||||
Pension liabilities
|
35.1 | 34.8 | ||||||
Deferred compensation
|
9.0 | 8.9 | ||||||
Other long-term liabilities
|
32.5 | 20.0 | ||||||
Total noncurrent liabilities
|
327.6 | 324.4 | ||||||
Shareholders' Equity:
|
||||||||
Common stock
|
0.3 | 0.3 | ||||||
Additional paid in capital
|
99.3 | 94.5 | ||||||
Retained earnings
|
342.0 | 319.5 | ||||||
Accumulated other comprehensive income
|
(19.1 | ) | (14.9 | ) | ||||
Less: Treasury stock
|
(1.3 | ) | (3.4 | ) | ||||
Total AMCOL shareholders' equity
|
421.2 | 396.0 | ||||||
Noncontrolling interest
|
3.8 | 4.2 | ||||||
Total equity
|
425.0 | 400.2 | ||||||
Total Liabilities and Shareholders' Equity
|
$ | 871.4 | $ | 842.7 | ||||
* Condensed from audited financial statements.
|
AMCOL INTERNATIONAL CORPORATION
|
||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
|
||||||||
(In millions)
|
||||||||
Six Months Ended
|
||||||||
June 30,
|
||||||||
2012
|
2011
|
|||||||
Cash flow from operating activities:
|
||||||||
Net income
|
$ | 33.5 | $ | 25.9 | ||||
Adjustments to reconcile net income to net cash
|
||||||||
provided by (used in) operating activities:
|
||||||||
Depreciation, depletion, and amortization
|
22.3 | 19.7 | ||||||
Other non-cash charges
|
9.0 | 3.0 | ||||||
Changes in assets and liabilities, net of effects of acquisitions:
|
||||||||
Decrease (increase) in current assets
|
(25.4 | ) | (57.5 | ) | ||||
Decrease (increase) in noncurrent assets
|
(2.4 | ) | (0.8 | ) | ||||
Increase (decrease) in current liabilities
|
1.0 | 22.1 | ||||||
Increase (decrease) in noncurrent liabilities
|
1.4 | 1.5 | ||||||
Net cash provided by (used in) operating activities
|
39.4 | 13.9 | ||||||
Cash flow from investing activities:
|
||||||||
Capital expenditures
|
(32.2 | ) | (24.8 | ) | ||||
Investments in and advances to affiliates and joint ventures
|
0.1 | (1.3 | ) | |||||
Proceeds from sale of interest in joint ventures
|
0.6 | - | ||||||
Other
|
1.6 | 1.7 | ||||||
Net cash (used in) investing activities
|
(29.9 | ) | (24.4 | ) | ||||
Cash flow from financing activities:
|
||||||||
Net change in outstanding debt
|
(9.6 | ) | 4.5 | |||||
Proceeds from exercise of stock awards
|
4.0 | 6.6 | ||||||
Dividends
|
(11.4 | ) | (11.3 | ) | ||||
Excess tax benefits from stock-based compensation
|
0.1 | 0.6 | ||||||
Net cash provided by (used in) financing activities
|
(16.9 | ) | 0.4 | |||||
Effect of foreign currency rate changes on cash
|
0.5 | 0.7 | ||||||
Net increase (decrease) in cash and cash equivalents
|
(6.9 | ) | (9.4 | ) | ||||
Cash and cash equivalents at beginning of period
|
23.7 | 27.3 | ||||||
Cash and cash equivalents at end of period
|
$ | 16.8 | $ | 17.9 |
AMCOL INTERNATIONAL CORPORATION
|
||||||||||||||||||||||||
SEGMENT RESULTS (unaudited)
|
||||||||||||||||||||||||
QUARTER-TO-DATE
|
||||||||||||||||||||||||
Minerals and Materials
|
Three Months Ended June 30,
|
|||||||||||||||||||||||
2012
|
2011
|
2012 vs. 2011
|
||||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 131.1 | 100.0 | % | $ | 118.3 | 100.0 | % | $ | 12.8 | 10.8 | % | ||||||||||||
Cost of sales
|
96.1 | 73.3 | % | 92.1 | 77.9 | % | 4.0 | 4.3 | % | |||||||||||||||
Gross profit
|
35.0 | 26.7 | % | 26.2 | 22.1 | % | 8.8 | 33.6 | % | |||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
13.0 | 9.9 | % | 11.9 | 10.1 | % | 1.1 | 9.2 | % | |||||||||||||||
Operating profit
|
22.0 | 16.8 | % | 14.3 | 12.0 | % | 7.7 | 53.8 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
Environmental
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 61.3 | 100.0 | % | $ | 74.8 | 100.0 | % | $ | (13.5 | ) | -18.0 | % | |||||||||||
Cost of sales
|
42.5 | 69.3 | % | 52.1 | 69.7 | % | (9.6 | ) | -18.4 | % | ||||||||||||||
Gross profit
|
18.8 | 30.7 | % | 22.7 | 30.3 | % | (3.9 | ) | -17.2 | % | ||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
12.4 | 20.2 | % | 14.4 | 19.3 | % | (2.0 | ) | -13.9 | % | ||||||||||||||
Operating profit
|
6.4 | 10.5 | % | 8.3 | 11.0 | % | (1.9 | ) | -22.9 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
Oilfield Services
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 61.2 | 100.0 | % | $ | 44.8 | 100.0 | % | $ | 16.4 | 36.6 | % | ||||||||||||
Cost of sales
|
42.0 | 68.6 | % | 33.4 | 74.6 | % | 8.6 | 25.7 | % | |||||||||||||||
Gross profit
|
19.2 | 31.4 | % | 11.4 | 25.4 | % | 7.8 | 68.4 | % | |||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
11.2 | 18.3 | % | 8.0 | 17.9 | % | 3.2 | 40.0 | % | |||||||||||||||
Operating profit
|
8.0 | 13.1 | % | 3.4 | 7.5 | % | 4.6 | 135.3 | % |
Three Months Ended June 30,
|
||||||||||||||||||||||||
Transportation
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 11.7 | 100.0 | % | $ | 14.8 | 100.0 | % | $ | (3.1 | ) | -20.9 | % | |||||||||||
Cost of sales
|
10.5 | 89.7 | % | 13.1 | 88.5 | % | (2.6 | ) | -19.8 | % | ||||||||||||||
Gross profit
|
1.2 | 10.3 | % | 1.7 | 11.5 | % | (0.5 | ) | -29.4 | % | ||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
0.9 | 7.7 | % | 1.0 | 6.8 | % | (0.1 | ) | -10.0 | % | ||||||||||||||
Operating profit
|
0.3 | 2.6 | % | 0.7 | 4.7 | % | (0.4 | ) | -57.1 | % |
Three Months Ended June 30,
|
||||||||||||||||
Corporate
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||
(Dollars in Millions)
|
||||||||||||||||
Intersegment shipping sales
|
$ | (7.8 | ) | $ | (9.9 | ) | $ | 2.1 | ||||||||
Intersegment shipping costs
|
(7.8 | ) | (10.0 | ) | 2.2 | |||||||||||
Gross profit (loss)
|
- | 0.1 | (0.1 | ) | ||||||||||||
Selling, general and
|
||||||||||||||||
administrative expenses
|
5.8 | 5.0 | 0.8 | 16.0 | % | |||||||||||
Operating loss
|
(5.8 | ) | (4.9 | ) | (0.9 | ) | 18.4 | % |
AMCOL INTERNATIONAL CORPORATION
|
||||||||||||||||||||||||
SEGMENT RESULTS (unaudited)
|
||||||||||||||||||||||||
YEAR-TO-DATE
|
||||||||||||||||||||||||
Minerals and Materials
|
Six Months Ended June 30,
|
|||||||||||||||||||||||
2012
|
2011
|
2012 vs. 2011
|
||||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 256.6 | 100.0 | % | $ | 234.2 | 100.0 | % | $ | 22.4 | 9.6 | % | ||||||||||||
Cost of sales
|
188.0 | 73.3 | % | 179.9 | 76.8 | % | 8.1 | 4.5 | % | |||||||||||||||
Gross profit
|
68.6 | 26.7 | % | 54.3 | 23.2 | % | 14.3 | 26.3 | % | |||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
25.0 | 9.7 | % | 23.9 | 10.2 | % | 1.1 | 4.6 | % | |||||||||||||||
Operating profit
|
43.6 | 17.0 | % | 30.4 | 13.0 | % | 13.2 | 43.4 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
Environmental
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 112.4 | 100.0 | % | $ | 126.5 | 100.0 | % | $ | (14.1 | ) | -11.1 | % | |||||||||||
Cost of sales
|
78.7 | 70.0 | % | 87.8 | 69.4 | % | (9.1 | ) | -10.4 | % | ||||||||||||||
Gross profit
|
33.7 | 30.0 | % | 38.7 | 30.6 | % | (5.0 | ) | -12.9 | % | ||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
26.4 | 23.5 | % | 28.0 | 22.1 | % | (1.6 | ) | -5.7 | % | ||||||||||||||
Operating profit
|
7.3 | 6.5 | % | 10.7 | 8.5 | % | (3.4 | ) | -31.8 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
Oilfield Services
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 116.5 | 100.0 | % | $ | 89.5 | 100.0 | % | $ | 27.0 | 30.2 | % | ||||||||||||
Cost of sales
|
81.9 | 70.3 | % | 65.4 | 73.1 | % | 16.5 | 25.2 | % | |||||||||||||||
Gross profit
|
34.6 | 29.7 | % | 24.1 | 26.9 | % | 10.5 | 43.6 | % | |||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
21.8 | 18.7 | % | 15.8 | 17.7 | % | 6.0 | 38.0 | % | |||||||||||||||
Operating profit
|
12.8 | 11.0 | % | 8.3 | 9.2 | % | 4.5 | 54.2 | % |
Six Months Ended June 30,
|
||||||||||||||||||||||||
Transportation
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||||||||||
(Dollars in Millions)
|
||||||||||||||||||||||||
Net sales
|
$ | 22.8 | 100.0 | % | $ | 27.5 | 100.0 | % | $ | (4.7 | ) | -17.1 | % | |||||||||||
Cost of sales
|
20.4 | 89.5 | % | 24.4 | 88.7 | % | (4.0 | ) | -16.4 | % | ||||||||||||||
Gross profit
|
2.4 | 10.5 | % | 3.1 | 11.3 | % | (0.7 | ) | -22.6 | % | ||||||||||||||
Selling, general and
|
||||||||||||||||||||||||
administrative expenses
|
1.9 | 8.3 | % | 1.9 | 6.9 | % | - | 0.0 | % | |||||||||||||||
Operating profit
|
0.5 | 2.2 | % | 1.2 | 4.4 | % | (0.7 | ) | -58.3 | % |
Six Months Ended June 30,
|
||||||||||||||||
Corporate
|
2012
|
2011
|
2012 vs. 2011
|
|||||||||||||
(Dollars in Millions)
|
||||||||||||||||
Intersegment sales
|
$ | (15.0 | ) | $ | (17.1 | ) | $ | 2.1 | ||||||||
Intersegment cost of sales
|
(15.0 | ) | (16.7 | ) | 1.7 | |||||||||||
Gross profit (loss)
|
- | (0.4 | ) | 0.4 | ||||||||||||
Selling, general and
|
||||||||||||||||
administrative expenses
|
11.8 | 9.8 | 2.0 | 20.4 | % | |||||||||||
Operating loss
|
(11.8 | ) | (10.2 | ) | (1.6 | ) | 15.7 | % |
AMCOL INTERNATIONAL CORPORATION
|
||||||||||||||||
SUPPLEMENTARY INFORMATION (unaudited)
|
||||||||||||||||
QUARTER-TO-DATE
|
||||||||||||||||
Composition of Sales by Geographic Region
|
Three Months Ended June 30, 2012
|
|||||||||||||||
Americas
|
EMEA
|
Asia Pacific
|
Total
|
|||||||||||||
Minerals & Materials
|
32.0 | % | 8.1 | % | 10.1 | % | 50.2 | % | ||||||||
Environmental
|
11.3 | % | 9.9 | % | 2.5 | % | 23.7 | % | ||||||||
Oilfield Services
|
19.4 | % | 1.6 | % | 2.8 | % | 23.8 | % | ||||||||
Transportation & intersegment shipping
|
2.3 | % | 0.0 | % | 0.0 | % | 2.3 | % | ||||||||
Total - current year's period
|
65.0 | % | 19.6 | % | 15.4 | % | 100.0 | % | ||||||||
Total from prior year's comparable period
|
61.0 | % | 24.8 | % | 14.2 | % | 100.0 | % |
Three Months Ended June 30, 2012
|
||||||||||||||||
vs.
|
||||||||||||||||
Percentage of Revenue Growth by Component
|
Three Months Ended June 30, 2011
|
|||||||||||||||
Base
Business
|
Acquisitions
|
Foreign
Exchange
|
Total
|
|||||||||||||
Minerals & Materials
|
6.0 | % | 0.0 | % | -0.7 | % | 5.3 | % | ||||||||
Environmental
|
-3.4 | % | 0.0 | % | -2.2 | % | -5.6 | % | ||||||||
Oilfield Services
|
6.9 | % | 0.0 | % | -0.1 | % | 6.8 | % | ||||||||
Transportation & intersegment shipping
|
-0.5 | % | 0.0 | % | 0.1 | % | -0.4 | % | ||||||||
Total
|
9.0 | % | 0.0 | % | -2.9 | % | 6.1 | % | ||||||||
% of growth
|
151.6 | % | 0.0 | % | -51.6 | % | 100.0 | % |
Three Months Ended June 30,
|
||||||||||||
Minerals and Materials Product Line Sales
|
2012
|
2011
|
% change
|
|||||||||
(Dollars in Millions)
|
||||||||||||
Metalcasting
|
$ | 71.0 | $ | 63.6 | 11.6 | % | ||||||
Specialty materials
|
26.2 | 25.8 | 1.6 | % | ||||||||
Basic minerals
|
17.5 | 12.6 | 38.9 | % | ||||||||
Pet products
|
13.9 | 13.0 | 6.9 | % | ||||||||
Other product lines
|
2.5 | 3.3 | -24.2 | % | ||||||||
Total
|
131.1 | 118.3 | 10.8 | % |
Three Months Ended June 30,
|
||||||||||||
Environmental Product Line Sales
|
2012
|
2011
|
% change
|
|||||||||
(Dollars in Millions)
|
||||||||||||
Lining technologies
|
$ | 27.5 | $ | 33.3 | -17.4 | % | ||||||
Building materials
|
19.1 | 21.7 | -12.0 | % | ||||||||
Drilling products
|
10.5 | 8.7 | 20.7 | % | ||||||||
Contracting services
|
4.2 | 11.1 | -62.2 | % | ||||||||
Total
|
61.3 | 74.8 | -18.0 | % |
AMCOL INTERNATIONAL CORPORATION
|
||||||||||||||||
SUPPLEMENTARY INFORMATION (unaudited)
|
||||||||||||||||
YEAR-TO-DATE
|
||||||||||||||||
Composition of Sales by Geographic Region
|
Six Months Ended June 30, 2012
|
|||||||||||||||
Americas
|
EMEA
|
Asia Pacific
|
Total
|
|||||||||||||
Minerals and materials
|
32.4 | % | 8.4 | % | 10.5 | % | 51.3 | % | ||||||||
Environmental
|
11.5 | % | 8.9 | % | 2.2 | % | 22.6 | % | ||||||||
Oilfield services
|
19.8 | % | 1.4 | % | 2.5 | % | 23.7 | % | ||||||||
Transportation & intersegment shipping
|
2.4 | % | 0.0 | % | 0.0 | % | 2.4 | % | ||||||||
Total - current year's period
|
66.1 | % | 18.7 | % | 15.2 | % | 100.0 | % | ||||||||
Total from prior year's comparable period
|
62.5 | % | 23.7 | % | 13.8 | % | 100.0 | % |
Six Months Ended June 30, 2012
|
||||||||||||||||
vs.
|
||||||||||||||||
Percentage of Revenue Growth by Component
|
Six Months Ended June 30, 2011
|
|||||||||||||||
Organic
|
Acquisitions
|
Foreign Exchange
|
Total
|
|||||||||||||
Minerals and materials
|
5.4 | % | 0.0 | % | -0.5 | % | 4.9 | % | ||||||||
Environmental
|
-1.7 | % | 0.0 | % | -1.4 | % | -3.1 | % | ||||||||
Oilfield services
|
6.0 | % | 0.0 | % | -0.1 | % | 5.9 | % | ||||||||
Transportation & intersegment shipping
|
-0.6 | % | 0.0 | % | 0.0 | % | -0.6 | % | ||||||||
Total
|
9.1 | % | 0.0 | % | -2.0 | % | 7.1 | % | ||||||||
% of growth
|
129.1 | % | 0.0 | % | -29.1 | % | 100.0 | % |
Six Months Ended June 30,
|
||||||||||||
Minerals and Materials Product Line Sales
|
2012
|
2011
|
% change
|
|||||||||
(Dollars in Millions)
|
||||||||||||
Metalcasting
|
$ | 133.9 | $ | 121.1 | 10.6 | % | ||||||
Specialty materials
|
53.0 | 53.2 | -0.4 | % | ||||||||
Basic minerals
|
37.0 | 26.8 | 38.1 | % | ||||||||
Pet products
|
28.3 | 28.1 | 0.7 | % | ||||||||
Other product lines
|
4.4 | 5.0 | -12.0 | % | ||||||||
Total
|
256.6 | 234.2 | 9.6 | % |
Six Months Ended June 30,
|
||||||||||||
Environmental Product Line Sales
|
2012
|
2011
|
% change
|
|||||||||
(Dollars in Millions)
|
||||||||||||
Lining technologies
|
$ | 46.8 | $ | 54.9 | -14.8 | % | ||||||
Building materials
|
37.9 | 39.2 | -3.3 | % | ||||||||
Drilling products
|
19.1 | 14.7 | 29.9 | % | ||||||||
Contracting services
|
8.6 | 17.7 | -51.4 | % | ||||||||
Total
|
112.4 | 126.5 | -11.1 | % |
>L5&<.%024:QLRN0CUDFW,8`.T7`3^X"8=`3_2`!.QI_3Y@G:XJG
MCL"%)](0.8C5V8P(_KFYS?P0$``0]@TOJTTS<]LO"I#VBO?;Q_WAF2$@;&XG
M6RS0%'2E3F!G;8>'*$A@/IC;\^IU`S&YX\UC?"^#Y26.6&N^;;N7'U1F'(&*
M06[#@.XX]W`!W``&$=+O+G17W7;52427W$O:E&8YOMD4K-?LF/;`E.EF5@0$
M[<4E"?"5)8![RG'R(%T9O9MN0P)3>D-MJPAU:]NMC;;4+L53]Q[/6.G#FR5=
M+M7-Z!Y99D=)Y&O0-ZG88AU/5*`_"''&EIU!\$UJ+Z6;#)W3\W;/,[;,J1?D
M;3]C[HZ;VRR4Y4QB)"W@)U.GZ3=%7GJZW]Y'^*K)^)BHUF7%MSVY3SZBVV$640A6AY&(N"111A
MKG'B;UFI7#GCCZ0D8?!@'D1+KX*%DB^9X 16]PUESIU<5+#OHJP$=-BLT#3,@/)7QGW8"QTVZ7R`A_A$?GQI .H.-BL@.7B5GLTB,+7W[=RSY[4U@`1
M]0#``"F/L(:65ST-FTZ,\_/_`,$\O3ID_+>'O:%[KO?B%;DLQ_ZOM'`O/]1V
M,`"V>?I#^9-LFUB@[-;7MLP%N`P55A 7NLLA/N$1(4P]Z!C\^GV^J;N[?OD*`%]
M<#!R#-4I1(?CV,(<>^HI0$3*4