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Eagle Materials posts decline in fiscal 2Q

Eagle Materials posts 22 percent decline in profit in fiscal 2nd quarter

  • On 5:05 pm EDT, Thursday October 22, 2009

DALLAS (AP) -- Building materials maker Eagle Materials Inc. said Thursday its fiscal second-quarter profit fell 22 percent on lower sales of cement and concrete products.

Net income sank to $12.2 million, or 28 cents per share, from $15.6 million, or 36 cents per share, in the same period for the prior fiscal year. The year-earlier results included a gain of $1.7 million, or 4 cents per share, on the sale of railcars, the company said.

Revenue for the quarter also fell to $138.2 million, down 23 percent from $178.9 million in the same period.

Analysts surveyed by Thomson Reuters expected earnings per share of 28 cents on revenue $128.1 million.

Shares fell 20 cents to close at $28.08.

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