DALLAS, June 27 /PRNewswire-FirstCall/ -- Eagle Materials Inc. (NYSE:
EXP) today announced that it is raising its earnings guidance for the first
quarter of its fiscal 2007 to $1.10 to $1.20 per diluted share, which is an
approximate 10% increase from its previously announced first quarter
guidance of $1.00 to $1.10 per diluted share. Eagle also increased its
annual guidance for fiscal 2007 from $3.67 to $4.00 per diluted share to
$4.40 to $4.70 per diluted share, an approximate 20% increase. The earnings
increase is primarily attributable to volume growth and strong pricing in
its wallboard and cement operations.
Eagle will release its financial results for the first quarter of
fiscal 2007 ended June 30, 2006, after the close of business on July 24,
2006, and host a conference call at 10:00 a.m. ET on July 25, 2006.
Investors and other interested parties in the U.S. may access the
teleconference live by calling (800) 745-2192 approximately 10 minutes
before the scheduled start. International participants can dial (212)
676-4904. The access code is 21297597. A live webcast will be available via
the internet through Eagle's home page at http://www.eaglematerials.com .
The conference call will be recorded and available on the site's Investor
Relations page for 12 months.
Eagle Materials Inc. is a Dallas-based company that manufactures and
distributes Cement, Gypsum Wallboard, Recycled Paperboard, and Concrete and
Aggregates.
Forward-Looking Statements. This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. Forward-looking statements may be
identified by the context of the statement and generally arise when the
Company is discussing its beliefs, estimates or expectations. These
statements are not historical facts or guarantees of future performance but
instead represent only the Company's belief at the time the statements were
made regarding future events which are subject to certain risks,
uncertainties and other factors many of which are outside the Company's
control. Actual results and outcomes may differ materially from what is
expressed or forecast in such forward-looking statements. The principal
risks and uncertainties that may affect the Company's actual performance
include the following: the cyclical and seasonal nature of the Company's
business; public infrastructure expenditures; adverse weather conditions;
availability of raw materials; changes in energy costs including, without
limitation, natural gas; changes in the cost and availability of
transportation; unexpected operational difficulties; inability to timely
execute announced capacity expansions; governmental regulation and changes
in governmental and public policy; changes in economic conditions specific
to any one or more of the Company's markets; competition; announced
increases in capacity in the gypsum wallboard and cement industries;
general economic conditions; and interest rates. For example, increases in
interest rates, decreases in demand for construction materials or increases
in the cost of energy (including natural gas) could affect the revenues and
operating earnings of our operations. In addition, changes in national or
regional economic conditions and levels of infrastructure and construction
spending could also adversely affect the Company's result of operations.
These and other factors are described in the Company's Annual Report on
Form 10-K for the fiscal year ended March 31, 2006. These reports are filed
with the Securities and Exchange Commission. All forward-looking statements
made herein are made as of the date hereof, and the risk that actual
results will differ materially from expectations expressed herein will
increase with the passage of time. The Company undertakes no duty to update
any forward-looking statement to reflect future events or changes in the
Company's expectations.
SOURCE Eagle Materials Inc.
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Related links:
http://www.eaglematerials.com
CONTACT:
Steven R. Rowley, President & CEO, or Arthur
R. Zunker, Jr., Senior Vice President & CFO, both of Eagle
Materials Inc., +1-214-432-2000
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