Hot report from Florida

Florida Rock Industries, Inc. weighed in with third quarter results, announcing record net income of $58,317,000, or $.87 per diluted share, for its fiscal 2006 third quarter, a 27% increase over the same quarter last year. Consolidated total sales for the quarter rose 15% to $360,993,000 from $313,499,000 in the same quarter last year. Improved pricing in all segments contributed to a 19% increase in gross profit, which rose to $121,405,000 compared to $102,116,000 in the same quarter last year. Product volumes increased 6% in the aggregates segment versus the third quarter of 2005. Concrete yardage rose 1.4% in the quarter while block volumes remained virtually level. Cement volume declined 9.5% from last year's third quarter. Commenting on the third quarter results, President and CEO John Baker stated: "Product demand in the third quarter continued at strong levels as non-residential demand grew and residential demand showed a slight decline. Price increases taking effect July 1 should help improve margins in aggregates and cement and help sustain margins in concrete." Your comment?