Despite severe weather at its operations in Ingersoll, Ont., and Luttrell, Tenn., Global Stone (TSE) managed to post earnings for the three months ended March 31.
Net income for the period was $627,000 on sales of $10.2 million. Cash generated was $2.8 million, before capital expenditures of $1.3 million. For the six months ended March 31, net income totaled $1.1 million on revenue of $18.6 million.
Strong demand in lime markets has prompted the company to install additional lime screening and storage facilities at its Ingersoll plant. It is hoped this will increase production from existing kilns.
At the Luttrell plant, a second kiln may be added.
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