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Vulcan Announces Fourth Quarter Results
Effective cost management continues despite weak demand
BIRMINGHAM, Ala.--(BUSINESS WIRE)--February 9, 2009--Vulcan Materials Company (NYSE:VMC) announced results today for the fourth quarter and full year ended December 31, 2008.
Full Year Highlights
- Aggregates shipments declined 12 percent.
- The average selling price for aggregates increased 7 percent.
- Net sales increased 12 percent.
- Cash earnings per ton of aggregates improved from the prior year.
- On a comparable basis, selling, administrative and general expenses declined 11 percent.
- EBITDA was $886 million versus $981 million in the prior year.
- Earnings from continuing operations were $231 million, or $2.08 per diluted share.
- Cash earnings were $624 million.
- Dividends paid were $215 million.
- Total debt was reduced by $109 million.
The following information was filed by Vulcan Materials Co (VMC) on Tuesday, February 10, 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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