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Florida Rock Net Income Up 18.7%

JACKSONVILLE, FL-A leading provider of construction materials for office, industrial and multifamily projects throughout the Southeast posted net income of $23 million for its third fiscal quarter ended June 30.

By Alex Finkelstein | Updated on July 31, 2003

JACKSONVILLE, FL-Florida Rock Industries Inc., a leading provider of construction materials for office, industrial and multifamily projects throughout the Southeast, posted record net income of $22.97 million, or 79 cents per share, for its third fiscal quarter ended June 30. The firm did $19.4 million in the same period last year.

John Baker, the company’s president and CEO, says total operating profit for the quarter increased by 13.8% to $34 million from $30 million last year. He credits his work force for helping the firm “achieve record results in what has certainly been a challenging period in our economy.”

Florida Rock’s anticipated sale of $2.25 million of real estate to US Homes has been deferred to the fourth quarter.

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