Elcor Corporation.

Roofing product manufacturer Elcor Corporation. Dallas, TX--parent company of roll goods manufacturer Elk Corp.--has released figures for the final quarter of 1999. Sales for fiscal 1999 equaled $317.9 million, an increase of 19% compared to 1998's $268.2 million. Earnings for the year rose 38% from last year's $18.3 million to 1999's final amount of $25.3 million. Fourth quarter sales jumped 21% to $90.1 million from $74.5 million last year. Net income also rose from $6.6 million in the fourth quarter of 1998 to $8 million this year. Elcor attributed its financial results to record shipments of "Elk Prestique" laminated fiberglass asphalt shingles; the company expects growing demand for these products and nonwoven fiberglass mats to contribute to strong sales and earnings in 2000. The company is also planning to invest about $137 million over the next three years to further expand capacity, improve productivity of existing plants and develop new facilities for both its roofing and industrial products segment s.