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Centex Construction Products, Inc.
Table of Contents

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 3, 2002

Centex Construction Products, Inc.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

     
1-12984
(Commission File Number)		   75-2520779
(IRS Employer Identification No.)
     
2728 N. Harwood, Dallas, Texas
(Address of principal executive offices)		   75201
(Zip code)

(214) 981-5000
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address if changed from last report)

 

TABLE OF CONTENTS

Item 7. Financial Statements and Exhibits
Item 9. Regulation FD Disclosure
SIGNATURES
EXHIBIT INDEX
EX-99.1 Press Release

Table of Contents

Item 7. Financial Statements and Exhibits.

         
Exhibit        
Number   Description  
 
 
99.1
   Press Release dated September 3, 2002

Item 9. Regulation FD Disclosure.

     On September 3, 2002, Centex Construction Products, Inc., a Delaware corporation (the “Corporation”), issued a press release announcing the closing of the Georgetown, Texas aggregates plant by its subsidiary Centex Materials L.P. A copy of the Corporation's press release, which is attached as Exhibit 99.1 hereto and incorporated herein by reference is being furnished under this Item 9 in accordance with the provisions of Regulation FD (17 CFR Section 243.100).

 

Table of Contents

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
    CENTEX CONSTRUCTION PRODUCTS, INC.
 
By:   /s/ Arthur R. Zunker, Jr.
Name: Arthur R. Zunker, Jr.
Title:   Senior Vice President - Finance and Treasurer

Date:  September 3, 2002.

 

Table of Contents

EXHIBIT INDEX

     
Exhibit    
Number   Description
 
99.1
   Press Release dated September 3, 2002

  


                                                                    EXHIBIT 99.1

                [CENTEX CONSTRUCTION PRODUCTS, INC. LETTERHEAD]

                                                      NEWS FOR IMMEDIATE RELEASE

                          CENTEX CONSTRUCTION PRODUCTS
                            CLOSES AGGREGATES QUARRY

         (DALLAS, TX Sept. 3, 2002): Centex Construction Products, Inc.
(NYSE:CXP) today announced the closing of its aggregates quarry and crushing
plant in Georgetown, Texas, north of Austin. The operation is owned by CXP
subsidiary Centex Materials, LP. Centex Materials, which also operates a large
crushed stone operation south of Austin in Buda, is a major producer of readymix
concrete and aggregates products in the Austin area.

         The decision to cease operations at the Georgetown plant is due
primarily to excessive manufacturing costs as well as to soft local market
conditions. A significant portion of the plant and equipment will be redeployed
to other CXP mining operations.

         CXP estimated that the write-down resulting from the closure would
reduce the Company's net earnings for the quarter ending September 30, 2002 by
approximately $1.7 million, or $0.09 per diluted share. CXP currently
anticipates net earnings of approximately $0.85 to $0.90 per diluted share for
the quarter ending September 30, versus current consensus of $0.95. Assuming the
previously announced wallboard price increase (effective as of September 9,
2002) holds for the remainder of the fiscal year, CXP anticipates net earnings
of approximately $3.60 to $4.10 per diluted share for the fiscal year ending
March 31, 2003. The current consensus estimate for the fiscal year is $3.94.

         In addition to aggregates and readymix concrete, CXP also produces
cement, gypsum wallboard and wallboard paper. The Company is approximately
65%-owned by Dallas-based Centex Corporation, which separately indicated that
the impact on Centex's net earnings for both the quarter ending September 30,
2002 and the fiscal year ending March 31, 2003 would be minimal, or about
$0.01-0.02 per share.

         THIS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS THAT REFLECT THE
COMPANY'S CURRENT VIEW OF FUTURE EVENTS AND FINANCIAL PERFORMANCE AND INVOLVE
KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES THAT MAY CAUSE THE COMPANY'S ACTUAL
RESULTS TO BE MATERIALLY DIFFERENT FROM PLANNED OR EXPECTED RESULTS. THOSE RISKS
AND UNCERTAINTIES INCLUDE, BUT ARE NOT LIMITED TO, THE CYCLICAL AND SEASONAL
NATURE OF THE COMPANY'S BUSINESS, PUBLIC INFRASTRUCTURE EXPENDITURES, ADVERSE
WEATHER, AVAILABILITY OF RAW MATERIALS, UNEXPECTED OPERATIONAL DIFFICULTIES,
GOVERNMENTAL REGULATION AND CHANGES IN GOVERNMENTAL AND PUBLIC POLICY, CHANGES
IN ECONOMIC CONDITIONS SPECIFIC TO ANY ONE OR MORE OF THE COMPANY'S MARKETS,
COMPETITION, ANNOUNCED INCREASE IN CAPACITY IN THE GYPSUM WALLBOARD AND CEMENT
INDUSTRIES, GENERAL ECONOMIC CONDITIONS, AND INTEREST RATES. INVESTORS SHOULD
TAKE SUCH RISKS AND UNCERTAINTIES INTO ACCOUNT WHEN MAKING INVESTMENT DECISIONS.
THESE AND OTHER FACTORS ARE DESCRIBED IN THE ANNUAL REPORT ON FORM 10-K FOR
CENTEX CONSTRUCTION PRODUCTS, INC. FOR THE FISCAL YEAR ENDED MARCH 31, 2002 AND
IN ITS QUARTERLY REPORT ON FORM 10-Q FOR THE FISCAL QUARTER ENDED JUNE 30, 2002.
THE REPORT IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

                                  # # # # # # #

For additional information, contact at 214/981-5000:
Arthur R. Zunker
Senior Vice President-Finance
         Treasurer and Chief Financial Officer



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