Lafarge North America Inc. said that third-quarter profits were better than last year in spite of a slowdown in demand during the month of September.
The company recorded net income of $131.4 million, or $1.80 per diluted share, for the three-month period ending September 30, 2001. In the same period last year, the company reported net income of $127.3 million ($1.72 per diluted share). Due to a decline in value of the Canadian dollar this year, the conversion of Lafarge's Canadian results to U.S. dollars resulted in a negative exchange rate impact in the most recent quarter of U.S. $3.4 million, net of tax, or $0.05 per share. Net sales in the most recent quarter rose 23 percent to $1,140.1 million from $924.6 million in 2000 primarily as a result of recent acquisitions.