News Story: Vulcan Materials Reports Nearly Flat Profits for Third Quarter asphalt and concrete supplier Vulcan Materials Co. recently reported its third quarter profits as nearly flat, hurt by the slumping residential construction market.

Quarterly net income totaled $135.4 million, or $1.38 per share, down from $135.7 million, or $1.39 per share during the same period last year. Earnings from continuing operations totaled $1.47 per share, including two cents per share in expenses related to its pending acquisition of Florida Rock Industries. Revenue was down a total of 3 percent from last year.

Vulcan said it expects private nonresidential and public infrastructure construction to grow, slightly offsetting the decline in the residential sector. However, the company expects continued declines in the fourth quarter, and predicts a 9 percent to 10 percent decline in shipments over the full year compared with 2006.