Kenneth R. Allen
         972.647.6730
Vice President-Finance and
           Email:  kallen@txi.com
Chief Financial Officer
 

TXI REPORTS FOURTH QUARTER AND YEAR END RESULTS


Dallas, TX – July 15, 2009
– Texas Industries, Inc. (NYSE-TXI) today reported financial results for the quarter and year ended May 31, 2009.  Net income (loss) for the quarter was ($42.4 million) or ($1.53) per share and included  an after tax charge of $39.0 million or ($1.41) per share from the impairment of goodwill associated with our California cement operations.  Net income for the quarter ended May 31, 2008 was $26.1 million or $.94 per share and included after tax gains of $12.0 million or $.43 per share from gains on sales of property associated with our aggregate operations and emission credits associated with our California cement operations.

Net income (loss) for the year was ($17.6 million) or ($.64) per share and included an after tax charge of $39.0 million or ($1.41) per share from the impairment of goodwill associated with our California cement operations.  Net income for the year ended May 31, 2008 was $87.6 million or $3.14 per share and included after tax gains of $12.0 million or $.43 per share from gains on sales of property associated with our aggregate operations and emission credits associated with our California cement operations.

General Comments

“This year’s loss is solely due to the goodwill impairment charge, but after adjusting for this non-cash event, our results still reflect the difficult economic environment in which we operate,” stated Mel Brekhus, Chief Executive Officer.  “While things are challenging, our people are doing a great job of not accepting the status quo and they are changing the way we operate by quickly adjusting to market conditions.  I am also pleased to have more than 80% of our sales occur in Texas.  I believe the Texas market is one of the strongest and is well positioned to grow once the recovery begins.”

“TXI remains focused on pursuing every opportunity to meet market demand as cost effectively as possible,” added Brekhus.  “Fiscal year 2009 sales are down 18% and yet our cash gross profit margin only declined 2.7%.”

“We successfully implemented an orderly suspension in early May,” Brekhus said about the delay of the Hunter, Texas cement plant expansion announced this past January.   “We will resume the project once market demand improves.  The delay will conserve $40-60 million in cash payments that would have primarily been made during fiscal year 2010 to complete the project on schedule.”

A teleconference will be held today, July 15, 2009 at 1:00 Central Daylight Time to further discuss quarter results.  A real-time webcast of the conference is available by logging on to TXI’s website at 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, unexpected periods of equipment downtime, changes in costs of raw materials, fuel and energy, the impact of environmental laws and other regulations and risks and uncertainties described in the Company’s reports on SEC Forms 10-K, 10-Q and 8-K.

TXI is the largest producer of cement in Texas and a major cement producer in California.  TXI is also a major supplier of construction aggregate, ready-mix concrete and concrete products.





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The following information was filed by Texas Industries Inc (TXI) on Wednesday, July 15, 2009 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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