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[March 2005]
CARBO Ceramics 2004 Results
Full year 2004 revenues at CARBO Ceramics Inc (Irving, TX, USA) of US$223.1 million increased by 31% from the previous year (US$169.9 million). Proppant sales volume increased by 26% compared to 2003, led by a 65% increase in international sales. International sales growth for 2004 included increases of 77% for overseas shipments, 45% in Canada and 50% in Mexico. Domestic shipments, meanwhile, increased 4% in 2004.
For the full year 2004, the average selling price increased by 3% due primarily to the impact of a price increase in July 2004 and a slight increase in the proportion of total sales generated from the sale of the company's higher priced products. Revenues for 2004 included US$22 million for Pinnacle Technologies compared to US$14.2 million in 2003.
Full year 2004 saw record net income of US$41.7 million, an increase of 41% on 2003's figure of US$29.6 million. The company's operating profit margin increased from 28% in 2003 to 29% in 2004.
The company commented on the outlook for 2005 by indicating that its worldwide annual manufacturing capacity is now 755 million pounds and, based on current demand, it expects to operate all of its manufacturing facilities at full capacity for the year. The company also stated that its new facility in McIntyre, Georgia, USA is progressing on schedule and within budget. The facility is expected to provide an additional 250 million pounds of annual capacity upon its completion at the end of 2005.
www.carboceramics.com
ENDS