Monarch Cement Co. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company announced net sales of $29,568,000 compared to $24,029,000 for the same period a year ago. Gross profit from operations was $6,047,000 compared to $287,000 for the same period a year ago. Income before taxes was $2,279,000 compared to loss before taxes of $3,323,000 for the same period a year ago. Net income was $1,549,000 or $0.40 per basic share compared to net loss of $2,413,000 or $0.62 per basic share for the same period a year ago. Net cash used for operating activities was $207,000 compared to $4,037,000 for the same period a year ago. Total cash spent on capital additions during the first quarter of 2016 was $7.4 million. Consolidated net sales increased primarily due to the increases in volume sold in both the Cement Business and the Ready-Mixed Concrete Business.

The company provided earnings guidance for the full year of fiscal 2016. The company anticipates spending approximately $16.0 million on capital expenditures in 2016. Looking ahead to the remainder of 2016, the company does not anticipate sales volumes to continue to exceed last year's volumes at the rate achieved in the first quarter of 2016. However, the company is optimistic that the economy will continue to improve giving the company additional opportunities to serve its customers and improve operating results.