Elcor Corporation.Roofing product manufacturer Elcor Corporation, Dallas, TX--parent company of roll goods manufacturer Elk Corp.--has reported second quarter results for 2000. Quarterly sales rose 15% to $81.7 million from $71.2 million for the same quarter last year. Income totaled $7.5 million, a 60% increase from $4.7 million in 1999. For the first six months of 2000, sales equaled $177.5 million, an increase over last year's $157.1 million for the same period. Year-to-date income also rose from $7.9 million in 1999 to $17.5 million currently. Elcor's roofing products segment achieved record sales and operating profits Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. for any second quarter in its history. Sales for the quarter increased 10% to $68.8 million from $62.4 million in the year-ago quarter, while operating profits rose 20% from $9.4 million to $11.3 million. Elcor reported that construction of Elk's new $70 million Myerstown, PA premium laminated laminated /lam·i·nat·ed/ (-nat?ed) having, composed of, or arranged in layers or laminae. laminated made up of laminae or thin layers. fiberglass asphalt shingle An asphalt shingle is a type of roof shingle. They are one of the most widely used roofing covers due to the fact that they are relatively inexpensive and fairly simple to install. plant should begin manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in December 2000 and will increase the compan y's overall laminated shingle shingle Thin piece of building material made of wood, asphaltic material, slate, metal, or concrete, laid in overlapping rows to shed water. Shingles are widely used as roof covering on residential buildings and sometimes also for siding (see Shingle style). capacity by about 38% in order to keep up with consumer demand. |
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