Texas Industries, Inc. today reported financial results for the quarter ended November 30, 2011. Results for the quarter were a net loss of USD21.0 million or USD .75 per share and included a one-time, pre-tax charge of USD3.2 million (USD.11 per share after-tax) relating to the Company's cost cutting and efficiency initiatives announced last September. Additionally, the reduction of the tax rate, compared to a year ago, increased the loss by USD.30 per share. Results for the quarter ended November 30, 2010 were a net loss of USD11.2 million or USD.40 per share.

"While the general economy is showing signs of some improvement, it has yet to manifest itself in increased construction activity in our markets," stated Mel Brekhus, Chief Executive Officer. "This is consistent with my expectation of a slow and prolonged recovery in the construction industry."

"I am pleased with the progress we have made on our cost cutting and efficiency initiatives. Our total headcount is down 11 per cent compared to August 31, 2011. Projects are underway to improve efficiencies throughout our operations and our efforts to reduce costs through improved purchasing practices are showing good results. There is obviously much more work to be accomplished in order to reach our goals of a 15 per cent gross profit margin and SG&A expense at 8 per cent of sales by the end of fiscal year 2013 but we are off to a very good start," added Brekhus.

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