HOFFMAN ESTATES, IL -- (Marketwire) -- 01/27/12 -- For the fourth quarter of 2011, AMCOL International Corporation (NYSE: ACO) generated diluted earnings per share attributable to its shareholders from continuing operations of $0.43 per share versus a loss of $0.30 per share in the prior year's quarter. Excluding unusual items in Q4 2010, diluted earnings per share attributable to our shareholders was $0.21 per diluted share.
Net sales increased 6.5% to $233.7 million for the 2011 fourth quarter, as compared to $219.4 million for the 2010 period. Gross profit increased 16.1% while gross margin increased 220 basis points to 26.6%. Operating profit increased 63.8% with operating margin increasing by 300 basis points to 8.6%.
Other income, net included losses of $1.0 million in the prior year's quarter whereas this quarter's results include gains of $0.2 million. The difference results from better foreign currency management which has reduced the impact of changes in foreign currency exchange rates. Our effective tax rate decreased in the quarter as compared to the prior year's quarter largely due to differences in non-recurring, discrete items between the two periods. Our income from joint-ventures and affiliates increased by $13.0 million to $1.5 million as the prior year's quarter includes impairments of our Belgian and Russian joint-ventures, both of which were sold prior to Q4 2011.
"Sales for the quarter were in line with our expectations. We were pleased with the sales growth and improvement in gross margin in our Minerals and Materials, and Oilfield Services segments, versus the prior year's quarter -- the most important factors leading to the increase in operating profit," said Ryan McKendrick, AMCOL President and Chief Executive Officer.
"Our Minerals and Materials segment generated 6% sales growth versus the prior year's Q4 with significant gross margin improvement. Market conditions for our metalcasting product line remained steady, and the outlook for 2012 remains positive. Our chromite product line also generated steady sales and an operating profit for the quarter. We expect the profit generated by these chromite products to improve after completion of equipment and process upgrades currently under way. Demand for oil drilling fluids and specialty products is expected to remain steady as well," continued McKendrick.
"We changed our Environmental segment's management and several product lines within the group are undergoing restructuring to better align the segment with changing market opportunities. Sales for the segment in the quarter were about equal to Q4 2010, but gross margin deteriorated as a result of pricing erosion in our lining technologies product line and lower than expected margins on contracting projects in Europe. In the US, we sold our contracting services product line in Q3 2011, and are in the process of significantly reducing our participation in contracting services in Europe. Price increases in the US lining technologies product line have started to show some positive effect for our core products, but were offset by low margin sales of purchased products on several large projects during the quarter. Building materials concluded a strong year resulting from expansion of its product portfolio and enhanced project support capabilities. Drilling products also continued its strong performance for the year," McKendrick added.
McKendrick continued, "Our Oilfield Services segment experienced a 24% increase in revenue vs. Q4 2010, with gross margin improvement versus the prior year's quarter. Coiled tubing services associated with hydraulic fracturing in various shale formations was the largest contributor to the growth in revenues. Pipeline services continue to experience strong growth and was the second largest contributor to growth for the segment in Q4 2011. Pipeline maintenance and integrity testing utilizes specialized Oilfield Services technology designed to handle high volumes of solids discharged from pipelines during cleaning operations. Sales of specialized water filtration services rebounded strongly sequentially, and were well ahead of the prior year's Q4 in the Gulf of Mexico, Brazil, and Australia."
"In summary, the outlook for our major product lines remains largely positive. Our Minerals and Materials segment is positioned well in several industries that appear to provide prospects for steady growth. Our Environmental segment is undergoing a restructuring to be more closely aligned with market opportunities. Oilfield Services is positioned to participate in the fast growing hydraulic fracturing market, while continuing to meet the requirements of our customers with specialized technology in two important growth areas -- water treatment and pipeline services," he concluded.
STATEMENT OF OPERATIONS HIGHLIGHTS:
The statement of operations highlights are supported by the quarterly segment results schedules included in this press release. The following comments relate to our results for the current quarter as compared to the same quarter in the prior year, unless otherwise noted.
Net sales: Net sales increased $14.3 million or 6.5%.
Minerals & Materials: Our US subsidiary accounted for 90.8% of the growth in revenues due to improved selling prices and additional volumes in metalcasting and oil drilling markets.
Environmental: Revenues increased slightly overall due to increases in our drilling and building materials groups, offset by decreases in lining technologies and unfavorable foreign currency exchange rate movements.
Oilfield Services: Our domestic operations drove the revenue growth, led by our coil tubing, pipeline and nitrogen services. Coil tubing services are benefitting from increased services in various oil and gas bearing shale formations, and pipeline services have increased due to increased maintenance and integrity testing work. Also, our foreign operations generated increased revenues primarily in Malaysia, where demand for our well testing services is high, and Brazil, which is benefitting from increased demand for water filtration services in addition to expanding its customer base.
Transportation: Revenues decreased due to lower shipment volumes as there are fewer drivers available to haul loads. However, this segment continues to see an increase in services being provided to divisions of our domestic subsidiaries, principally our metalcasting and pet products groups; these intercompany revenues are eliminated in the Corporate segment.
Gross profit: Gross profit increased $8.6 million, or 16.1%. Gross margin also increased, by 220 basis points to 26.6%.
Minerals & Materials: Approximately 80.0% of the increase in gross profit results from selling price increases worldwide. In addition, Q4 2010 had approximately $2.1 million of expenses associated with operational issues in our domestic personal care business unit which did not recur in 2011.
Environmental: Gross profit decreased due to cost overruns on contracting work in Europe combined with increased manufacturing costs in the US resulting from decreased volumes of lining technologies products. These factors also negatively affected the gross profit margin. Product mix within our building materials group also negatively affected margins as sales were a little more concentrated in lower margin products.
Oilfield Services: Our foreign operations account for the majority of the increase in gross profit as both Malaysia and Brazil experienced significant increases. Malaysia benefitted from more profitable well testing services and Brazil benefitted from improved pricing on new contracts. On a combined basis, our domestic pipeline and nitrogen services also contributed significantly to the increase in gross profit due to increased leverage on those sales.
Selling, general and administrative expenses (SG&A): SG&A expenses increased minimally overall. Within the segments, expenses in our Oilfield Services segment increased due to employee compensation and employee related costs while expenses decreased in our Corporate segment as the prior year's quarter includes one-time expenses associated with the retirement of our prior CEO.
Other, net: Other, net is comprised of gains and losses on foreign currency transactions and the corresponding derivative instruments used to hedge those transactions. The income from these transactions increased as compared to the fourth quarter of 2010 due to the increased amount and effectiveness of derivatives used to mitigate the effect of changes in the foreign currency exchange rates.
Income tax expense: Our income tax expense and effective tax rate decreased in the quarter due to differences in discrete items recorded between the two quarters. The prior year's quarterly effective tax rate was abnormally high given (i) the amount of unfavorable, discrete items recorded and (ii) the effect of changes in geographical earnings distribution estimates.
Income from affiliates and joint ventures: The loss recorded in Q4 2010 resulted from impairments associated with our Belgian and Russian joint-ventures, both of which were subsequently sold in 2011 before the fourth quarter began. In addition, income from our Japanese investment increased due to the JV's improved performance resulting from favorable market conditions in Japan.
Income (loss) on discontinued operations: In the third quarter of 2011, we sold our domestic contracting services business within our Environmental segment. All amounts generated from this business are now included within our losses from discontinued operations.
FINANCIAL POSITION AND CASH FLOW HIGHLIGHTS:
We compare several components of our balance sheet and cash flow statement using amounts as of and for the year ending December 31, 2011 as compared to the amounts as of and for the year ending December 31, 2010.
Cash flow generated from operating activities decreased due to increased investments in working capital, principally inventory and accounts receivable, to support our sales growth. Our working capital excluding cash increased by $48.7 million. We have financed this increase through long term debt, which increased by $24.5 million to $260.7 million, and increased cash from our operating profits. Long-term debt as a percentage of total capitalization increased 230 basis points to 39.4%.
Capital expenditures for the year ended December 31, 2011 were $61.0 million as compared to $47.3 million in the prior year. Expenditures associated with our start-up chromite operations were $8.2 million and $14.9 million in 2011 and 2010, respectively. In the year ended December 31, 2011, the majority of our capital spending occurred in our Oilfield Services and Minerals and Materials segments.
Dividends for 2011 increased 1.8% over the prior year although our quarterly dividend rate has remained constant at $0.18 per share.
This release should be read in conjunction with the attached unaudited, condensed, consolidated financial statements. It contains certain forward-looking statements regarding AMCOL's expected performance for future periods and actual results for such periods might materially differ. Such forward-looking statements are subject to uncertainties, which include, but are not limited to, actual growth in AMCOL's various markets, utilization of AMCOL's plants, currency exchange rates, currency devaluation, delays in development, production and marketing of new products, integration of acquired businesses, and other factors detailed from time to time in AMCOL's annual report and other reports filed with the Securities and Exchange Commission. AMCOL undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in AMCOL's expectations.
AMCOL International, headquartered in Hoffman Estates, IL, develops and markets a wide range of mineral and technology based products and services for use in various industrial, environmental and consumer applications. AMCOL is the parent company of American Colloid Company, CETCO (Colloid Environmental Technologies Company), CETCO Oilfield Services Company and the transportation operations, Ameri-co Carriers, Inc. and Ameri-co Logistics, Inc. AMCOL's common stock is traded on the New York Stock Exchange under the symbol ACO. AMCOL's web address is www.amcol.com. AMCOL's quarterly quarter conference call will be available live today at 11 a.m. ET on the AMCOL website via webcast or by dialing 1.866.226.1792.
Financial tables follow.
AMCOL INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except per share data)
Twelve Months Ended Three Months Ended
December 31, December 31,
---------------------- ----------------------
2011 2010 2011 2010
---------- ---------- ---------- ----------
Continuing Operations
Net sales $ 942,369 $ 841,037 $ 233,661 $ 219,387
Cost of sales 689,494 624,111 171,603 165,948
---------- ---------- ---------- ----------
Gross profit 252,875 216,926 62,058 53,439
General, selling and
administrative expenses 165,222 146,885 41,868 41,116
---------- ---------- ---------- ----------
Operating profit 87,653 70,041 20,190 12,323
---------- ---------- ---------- ----------
Other income (expense):
Interest expense, net (11,519) (9,725) (3,211) (2,633)
Other, net 311 1,147 228 (999)
---------- ---------- ---------- ----------
(11,208) (8,578) (2,983) (3,632)
---------- ---------- ---------- ----------
Income before income taxes
and income (loss) from
affiliates and joint
ventures 76,445 61,463 17,207 8,691
Income tax expense (benefit) 21,849 19,391 4,914 6,514
---------- ---------- ---------- ----------
Income before income
(loss) from affiliates
and joint ventures 54,596 42,072 12,293 2,177
Income (loss) from
affiliates and joint
ventures 5,566 (11,261) 1,490 (11,527)
---------- ---------- ---------- ----------
Net income (loss) from
continuing operations 60,162 30,811 13,783 (9,350)
Discontinued Operations
Income (loss) on
discontinued operations (916) (887) - (98)
---------- ---------- ---------- ----------
Net income (loss) 59,246 29,924 13,783 (9,448)
Net income (loss)
attributable to the
noncontrolling interest 135 (423) 87 (101)
---------- ---------- ---------- ----------
Net income (loss)
attributable to AMCOL
shareholders $ 59,111 $ 30,347 $ 13,696 $ (9,347)
========== ========== ========== ==========
Weighted average common
shares outstanding 31,709 31,179 31,832 31,304
Weighted average common and
common equivalent shares
outstanding 32,146 31,548 32,182 31,700
Earnings per share
attributable to Amcol
International Corporation
Basic earnings per share:
Continuing operations $ 1.89 $ 1.00 $ 0.43 $ (0.30)
Discontinued operations (0.03) (0.03) - -
---------- ---------- ---------- ----------
Net income (loss) $ 1.86 $ 0.97 $ 0.43 $ (0.30)
Diluted earnings per share:
Continuing operations $ 1.87 $ 0.99 $ 0.43 $ (0.30)
Discontinued operations (0.03) (0.03) - -
---------- ---------- ---------- ----------
Net income (loss) $ 1.84 $ 0.96 $ 0.43 $ (0.30)
Dividends declared per share $ 0.72 $ 0.72 $ 0.18 $ 0.18
AMCOL INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
ASSETS December 31, December 31,
2011 2010
(unaudited) *
---------------- ----------------
Current assets:
Cash and equivalents $ 23,698 $ 27,262
Accounts receivable, net 206,834 193,968
Inventories 146,582 107,515
Prepaid expenses 15,715 12,581
Deferred income taxes 5,918 5,553
Income tax receivable 6,866 8,474
Other 6,655 6,211
---------------- ----------------
Total current assets 412,268 361,564
---------------- ----------------
Noncurrent assets:
Property, plant, equipment, mineral
rights and reserves:
Land 13,881 11,591
Mineral rights 41,861 51,435
Depreciable assets 482,338 454,351
---------------- ----------------
538,080 517,377
Less: accumulated depreciation and
depletion 275,503 256,889
---------------- ----------------
262,577 260,488
---------------- ----------------
Goodwill 69,509 70,909
Intangible assets, net 36,610 42,590
Investments in and advances to
affiliates and joint ventures 26,407 19,056
Available for sale securities 3,802 14,168
Deferred income taxes 7,783 7,570
Other assets 23,746 22,748
---------------- ----------------
Total noncurrent assets 430,434 437,529
---------------- ----------------
$ 842,702 $ 799,093
================ ================
LIABILITIES AND SHAREHOLDERS' EQUITY
---------------- ----------------
Current liabilities:
Accounts payable $ 56,451 $ 53,167
Accrued liabilities 61,629 59,308
---------------- ----------------
Total current liabilities 118,080 112,475
---------------- ----------------
Noncurrent liabilities:
Long-term debt 260,670 236,171
Pension liabilities 34,840 21,338
Deferred compensation 8,927 8,686
Other liabilities 19,965 19,987
---------------- ----------------
Total noncurrent liabilities 324,402 286,182
---------------- ----------------
Equity:
Common stock 320 320
Additional paid in capital 94,529 95,074
Retained earnings 319,538 283,189
Accumulated other comprehensive income (14,968) 28,936
---------------- ----------------
399,419 407,519
Less:
Treasury stock 3,426 8,945
---------------- ----------------
Total AMCOL shareholders' equity 395,993 398,574
---------------- ----------------
Noncontrolling interest 4,227 1,862
---------------- ----------------
Total equity 400,220 400,436
---------------- ----------------
$ 842,702 $ 799,093
================ ================
* Condensed from audited financial statements.
AMCOL INTERNATIONAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
(In thousands)
Twelve Months Ended
December 31,
----------------------------
2011 2010
------------- -------------
Cash flow from operating activities:
Net income $ 59,246 $ 29,924
Adjustments to reconcile net income to net
cash provided by (used in) operating
activities:
Depreciation, depletion, and amortization 41,836 36,306
Undistributed earnings from affiliates and
joint ventures (3,931) 11,754
Decrease (increase) in deferred income
taxes 7,119 3,863
Other non-cash charges 8,691 5,835
Changes in assets and liabilities, net of
effects of acquisitions:
Decrease (increase) in current assets (86,469) (62,467)
Decrease (increase) in noncurrent assets (736) (3,977)
Increase (decrease) in current
liabilities 13,440 22,618
Increase (decrease) in noncurrent
liabilities (566) 4,244
------------- -------------
Net cash provided by (used in)
operating activities 38,630 48,100
------------- -------------
Cash flow from investing activities:
Capital expenditures (61,029) (47,305)
Proceeds from sale of land and depreciable
assets 1,913 841
Proceeds from sale of interests in affliates
and businesses 6,146 -
Investments in and advances to affiliates and
joint ventures (3,387) (2,073)
Other 1,667 447
------------- -------------
Net cash used in investing activities (54,690) (48,090)
------------- -------------
Cash flow from financing activities:
Net change in outstanding debt 25,294 27,671
Purchase of noncontrolling interest - (11,873)
Proceeds from sales of treasury stock 8,308 5,346
Dividends (22,762) (22,358)
Excess tax benefits from stock-based
compensation 716 436
------------- -------------
Net cash provided by (used in)
financing activities 11,556 (778)
------------- -------------
Effect of foreign currency rate changes on cash 940 361
------------- -------------
Net increase (decrease) in cash and cash
equivalents (3,564) (407)
------------- -------------
Cash and cash equivalents at beginning of
period 27,262 27,669
------------- -------------
Cash and cash equivalents at end of period $ 23,698 $ 27,262
============= =============
AMCOL INTERNATIONAL CORPORATION
SEGMENT RESULTS (unaudited)
QUARTER-TO-DATE
Three Months Ended December 31,
-------------------------------------------------------
Minerals and
Materials 2011 2010 2011 vs. 2010
---------------- ---------------- -----------------
(Dollars in Thousands)
-------------------------------------------------------
Net sales $121,375 100.0% $114,853 100.0% $ 6,522 5.7%
Cost of sales 90,442 74.5% 91,379 79.6% (937) -1.0%
-------- ------- -------- ------- --------
Gross profit 30,933 25.5% 23,474 20.4% 7,459 31.8%
General, selling and
administrative
expenses 12,831 10.6% 11,867 10.3% 964 8.1%
-------- ------- -------- ------- --------
Operating profit 18,102 14.9% 11,607 10.1% 6,495 56.0%
Three Months Ended December 31,
-------------------------------------------------------
Environmental 2011 2010 2011 vs. 2010
---------------- ---------------- -----------------
(Dollars in Thousands)
-------------------------------------------------------
Net sales $ 52,873 100.0% $ 52,356 100.0% $ 517 1.0%
Cost of sales 38,630 73.1% 35,957 68.7% 2,673 7.4%
-------- ------- -------- ------- --------
Gross profit 14,243 26.9% 16,399 31.3% (2,156) -13.1%
General, selling and
administrative
expenses 13,651 25.8% 13,625 26.0% 26 0.2%
-------- ------- -------- ------- --------
Operating profit 592 1.1% 2,774 5.3% (2,182) -78.7%
Three Months Ended December 31,
------------------------------------------------------
Oilfield Services 2011 2010 2011 vs. 2010
---------------- ---------------- ----------------
(Dollars in Thousands)
------------------------------------------------------
Net sales $ 53,876 100.0% $ 43,569 100.0% $ 10,307 23.7%
Cost of sales 38,528 71.5% 31,368 72.0% 7,160 22.8%
-------- ------- -------- ------- --------
Gross profit 15,348 28.5% 12,201 28.0% 3,147 25.8%
General, selling and
administrative
expenses 9,549 17.7% 7,443 17.1% 2,106 28.3%
-------- ------- -------- ------- --------
Operating profit 5,799 10.8% 4,758 10.9% 1,041 21.9%
Transportation Three Months Ended December 31,
-------------------------------------------------------
2011 2010 2011 vs. 2010
---------------- ---------------- -----------------
(Dollars in Thousands)
-------------------------------------------------------
Net sales $ 11,782 100.0% $ 12,238 100.0% $ (456) -3.7%
Cost of sales 10,459 88.8% 10,873 88.8% (414) -3.8%
-------- ------- -------- ------- --------
Gross profit 1,323 11.2% 1,365 11.2% (42) -3.1%
General, selling and
administrative
expenses 1,002 8.5% 899 7.3% 103 11.5%
-------- ------- -------- ------- --------
Operating profit 321 2.7% 466 3.9% (145) -31.1%
Three Months Ended December 31,
---------------------------------------
Corporate 2011 2010 2011 vs. 2010
-------- -------- -----------------
(Dollars in Thousands)
---------------------------------------
Intersegment sales $ (6,245) $ (3,629) $ (2,616)
Intersegment cost of sales (6,456) (3,629) (2,827)
-------- -------- --------
Gross profit (loss) 211 - 211
General, selling and administrative
expenses 4,835 7,282 (2,447) -33.6%
-------- -------- --------
Operating loss (4,624) (7,282) 2,658 -36.5%
AMCOL INTERNATIONAL CORPORATION
SEGMENT RESULTS (unaudited)
YEAR-TO-DATE
Twelve Months Ended December 31,
------------------------------------------------------
Minerals and
Materials 2011 2010 2011 vs. 2010
---------------- ---------------- ----------------
(Dollars in Thousands)
------------------------------------------------------
Net sales $481,898 100.0% $429,270 100.0% $ 52,628 12.3%
Cost of sales 363,040 75.3% 330,297 76.9% 32,743 9.9%
-------- ------- -------- ------- --------
Gross profit 118,858 24.7% 98,973 23.1% 19,885 20.1%
General, selling and
administrative
expenses 49,776 10.3% 44,393 10.3% 5,383 12.1%
-------- ------- -------- ------- --------
Operating profit 69,082 14.4% 54,580 12.8% 14,502 26.6%
Twelve Months Ended December 31,
-------------------------------------------------------
Environmental 2011 2010 2011 vs. 2010
---------------- ---------------- -----------------
(Dollars in Thousands)
-------------------------------------------------------
Net sales $246,385 100.0% $220,598 100.0% $ 25,787 11.7%
Cost of sales 173,032 70.2% 152,450 69.1% 20,582 13.5%
-------- ------- -------- ------- --------
Gross profit 73,353 29.8% 68,148 30.9% 5,205 7.6%
General, selling and
administrative
expenses 54,912 22.3% 48,334 21.9% 6,578 13.6%
-------- ------- -------- ------- --------
Operating profit 18,441 7.5% 19,814 9.0% (1,373) -6.9%
Twelve Months Ended December 31,
------------------------------------------------------
Oilfield Services 2011 2010 2011 vs. 2010
---------------- ---------------- ----------------
(Dollars in Thousands)
------------------------------------------------------
Net sales $193,632 100.0% $154,621 100.0% $ 39,011 25.2%
Cost of sales 138,778 71.7% 110,681 71.6% 28,097 25.4%
-------- ------- -------- ------- --------
Gross profit 54,854 28.3% 43,940 28.4% 10,914 24.8%
General, selling and
administrative
expenses 34,973 18.1% 29,322 19.0% 5,651 19.3%
-------- ------- -------- ------- --------
Operating profit 19,881 10.2% 14,618 9.4% 5,263 36.0%
Twelve Months Ended December 31,
-------------------------------------------------------
Transportation 2011 2010 2011 vs. 2010
---------------- ---------------- -----------------
(Dollars in Thousands)
-------------------------------------------------------
Net sales $ 54,113 100.0% $ 52,225 100.0% $ 1,888 3.6%
Cost of sales 47,972 88.7% 46,360 88.8% 1,612 3.5%
-------- ------- -------- ------- --------
Gross profit 6,141 11.3% 5,865 11.2% 276 4.7%
General, selling and
administrative
expenses 3,900 7.2% 3,435 6.6% 465 13.5%
-------- ------- -------- ------- --------
Operating profit 2,241 4.1% 2,430 4.6% (189) -7.8%
Twelve Months Ended December 31,
---------------------------------------
Corporate 2011 2010 2011 vs. 2010
-------- -------- -----------------
(Dollars in Thousands)
---------------------------------------
Intersegment sales $(33,659) $(15,677) $(17,982)
Intersegment cost of sales (33,328) (15,677) (17,651)
-------- -------- --------
Gross profit (loss) (331) - (331)
General, selling and administrative
expenses 21,661 21,401 260 1.2%
-------- -------- --------
Operating loss (21,992) (21,401) (591) 2.8%
AMCOL INTERNATIONAL CORPORATION
SUPPLEMENTARY INFORMATION (unaudited)
QUARTER-TO-DATE
Composition of Sales by
Geographic Region Three Months Ended December 31, 2011
---------------------------------------------------
Asia
Americas EMEA Pacific Total
Minerals and Materials 30.3% 9.9% 11.6% 51.8%
Environmental 10.0% 10.8% 1.4% 22.2%
Oilfield services 19.6% 1.0% 2.5% 23.1%
Transportation 2.9% 0.0% 0.0% 2.9%
----------- ----------- ----------- ------------
Total - current year's
period 62.8% 21.7% 15.5% 100.0%
=========== =========== =========== ============
Total from prior year's
comparable period 61.5% 23.7% 14.8% 100.0%
Percentage of Revenue
Growth by Component Three Months Ended December 31, 2011
vs.
Three Months Ended December 31, 2010
------------------------------------------------------
Base Foreign
Business Acquisitions Exchange Total
------------ ------------ ------------ ------------
Minerals and
Materials 3.7% 0.0% -0.7% 3.0%
Environmental 0.6% 0.0% -0.4% 0.2%
Oilfield services 4.8% 0.0% -0.1% 4.7%
Transportation -1.4% 0.0% 0.0% -1.4%
------------ ------------ ------------ ------------
Total 7.7% 0.0% -1.2% 6.5%
============ ============ ============ ============
% of growth 118.0% 0.0% -18.0% 100.0%
Minerals and Materials
Product Line Sales Three Months Ended December 31,
---------------------------------------
2011 2010 % change
------------- ------------ ------------
(Dollars in Thousands)
---------------------------------------
Metalcasting $ 64,479 $ 56,748 13.6%
Specialty materials 27,069 27,213 -0.5%
Pet products 13,762 15,232 -9.7%
Basic minerals 13,326 14,096 -5.5%
Other product lines 2,739 1,564 75.1%
------------- ------------
Total 121,375 114,853 5.7%
============= ============
Environmental Product
Line Sales Three Months Ended December 31,
----------------------------------------
2011 2010 % change
------------- ------------- ------------
(Dollars in Thousands)
----------------------------------------
Lining technologies $ 20,471 $ 22,980 -10.9%
Building materials 17,276 15,357 12.5%
Contracting services 6,721 7,753 -13.3%
Drilling products 8,405 6,266 34.1%
------------- -------------
Total 52,873 52,356 1.0%
============= =============
AMCOL INTERNATIONAL CORPORATION
SUPPLEMENTARY INFORMATION (unaudited)
YEAR-TO-DATE
Composition of
Sales by
Geographic Region Twelve Months Ended December 31, 2011
---------------------------------------------------------
Americas EMEA Asia Pacific Total
Minerals and
Materials 29.9% 9.9% 10.9% 50.7%
Environmental 11.6% 12.6% 1.6% 25.8%
Oilfield services 18.0% 0.9% 1.6% 20.5%
Transportation 3.0% 0.0% 0.0% 3.0%
------------ ------------ ------------ ------------
Total - current
year's period 62.5% 23.4% 14.1% 100.0%
============ ============ ============ ============
Total from prior
year's comparable
period 63.2% 22.1% 14.7% 100.0%
Percentage of Revenue
Growth by Component Twelve Months Ended December 31, 2011
vs.
Twelve Months Ended December 31, 2010
------------------------------------------------------
Base Foreign
Business Acquisitions Exchange Total
------------ ------------ ------------ ------------
Minerals and
Materials 5.8% 0.0% 0.5% 6.3%
Environmental 2.4% 0.1% 0.6% 3.1%
Oilfield services 4.3% 0.0% 0.3% 4.6%
Transportation -2.0% 0.0% 0.0% -2.0%
------------ ------------ ------------ ------------
Total 10.5% 0.1% 1.4% 12.0%
============ ============ ============ ============
% of growth 87.1% 0.8% 12.1% 100.0%
Minerals and Materials
Product Line Sales Twelve Months Ended December 31,
----------------------------------------
2011 2010 % change
------------- ------------- ------------
(Dollars in Thousands)
----------------------------------------
Metalcasting $ 251,486 $ 204,577 22.9%
Specialty materials 105,798 107,287 -1.4%
Pet products 55,999 61,971 -9.6%
Basic minerals 54,615 48,886 11.7%
Other product lines 14,000 6,549 113.8%
------------- -------------
Total 481,898 429,270 12.3%
============= =============
Environmental Product
Line Sales Twelve Months Ended December 31,
----------------------------------------
2011 2010 % change
------------- ------------- ------------
(Dollars in Thousands)
----------------------------------------
Lining technologies $ 103,458 $ 107,974 -4.2%
Building materials 76,144 57,220 33.1%
Contracting services 35,407 31,075 13.9%
Drilling products 31,376 24,329 29.0%
------------- -------------
Total 246,385 220,598 11.7%
============= =============
For further information, contact:
Don Pearson
Vice President & Chief Financial Officer
847.851.1500
