txi

TXI REPORTS FOURTH QUARTER RESULTS

July 12, 2007 - Dallas , Texas
- Texas Industries, Inc. (NYSE-TXI) today reported net income of $30.1 million ($1.09 per share) for the quarter ended May 31, 2007. For the same quarter ending May 31, 2006, net income equaled $41.9 million ($1.58 per share). The 2006 quarter included a real estate sale that contributed $12.4 million ($.45 per share) to net income after costs and expenses related to the transaction. Excluding the real estate gain from the May quarter of 2006, net income would have been $29.5 million ($1.13 per share).

For the year ended May 31, 2007 net income equaled $100.9 million ($3.80 per share). In 2006, the Company generated a net loss from continuing operations of $.6 million ($.03 per share). Fiscal year 2007 included a second quarter after-tax gain of $12.9 million ($.47 per share) that resulted from cash received from the settlement of the long-standing U.S. antidumping order on Mexican cement. Fiscal year 2006 included debt retirement costs and other expenses related to the spin-off of the Company’s steel operations which reduced net income by $75.8 million ($3.29 per share) and also included the real estate gain of $12.4 million ($.54 per share) that occurred in the quarter ended May 31, 2006. If the settlement income were excluded from 2007 results, net income would have equaled $88.0 million ($3.33 per share). Likewise, excluding both the costs and expenses relating to the spin-off and the income from the real estate gain, fiscal year 2006 net income would have equaled $62.8 million ($2.72 per share).

“Net income for fiscal year 2007 increased 40% compared to 2006 once large, individual transactions in both years are excluded,” stated Mel Brekhus, Chief Executive Officer. “Excluding those same large transactions and looking simply at earnings before interest and taxes, the percentage increase in EBIT was 24%. Despite extreme wet weather in Texas during the spring, EBIT for the fourth quarter ended May 31, 2007 was down only 5% compared to that of a year ago after removing the large real estate gain in last year’s quarter. Overall price trends for cement continue to be positive even though bad weather and slower construction activity have disrupted the timing and magnitude of price increases in some markets.”

“TXI’s California cement plant expansion continues on budget and on schedule for a late fall or early winter start-up,” continued Brekhus. “As detailed design and engineering work has progressed on our Central Texas cement plant expansion, we have determined that 1.4 million tons of annual capacity will be added to the facility instead of the earlier announced increase of 1 million tons. We expect the new kiln system for the Central Texas plant to start production by the end of calendar year 2009. Combining the California and Central Texas projects with efforts to de-bottleneck our North Texas cement plant, we now plan to grow TXI’s annual cement production from today’s 5 million tons to almost 8 million tons in a little over three years.”

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The following information was filed by Texas Industries Inc (TXI) on Thursday, July 12, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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