TXI Reports Losses For 1Q11

Morgan Keegan has published a research report for Texas Industries TXI. In the note, Morgan Keegan writes "TXI reported a loss of ($0.85) on revenue of $172 million for fiscal 1Q11 ending August. These results included a $0.65 charge for refinancing. If this item is removed, TXI lost approximately ($0.20). We were expecting a loss of ($0.32) on revenue of $166.2 million and the street was expecting a loss of ($0.28) on revenue of $171 million. In fiscal 1Q10 TXI reported earnings of $0.06 on revenue of $183.9 million." Morgan Keegan maintains its Market Perform rating and $34 price target. Texas Industries closed yesterday at $31.03.