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UNITED LIME & STATES MINERALS United States Lime & Minerals Reports First Quarter 2021 Results and Declares Regular Quarterly Cash Dividend -- DALLAS , April 28 , 2021 ( GLOBE NEWSWIRE ) - United States Lime & Minerals , Inc. ( NASDAQ : USLM ) today reported first quarter 2021 results : The Company's revenues in the first quarter 2021 were $ 41.7 million , compared to $ 38.4 million in the first quarter 2020 , an increase of $ 3.2 million , or 8.4 % . The Company's revenues from its lime and limestone operations in the first quarter 2021 were $ 41.4 million , compared to $ 38.2 million in the first quarter 2020 , an increase of $ 3.1 million , or 8.2 % . Carthage Crushed Limestone ( " Carthage " ) , which the Company acquired on July 1 , 2020 , contributed $ 2.2 million to the Company's lime and limestone revenues for the first quarter 2021 . The increase in Company revenues in the first quarter 2021 , compared to the first quarter 2020 , resulted primarily from increased sales of the Company's lime and limestone products , principally due to the addition of limestone sales by Carthage to agriculture and roofing customers , and increased sales to the Company's construction customers , partially offset by decreased sales to the Company's oil and gas services customers . First quarter 2021 revenues were also favorably impacted by increases in the average selling prices for the Company's lime and limestone products . The Company's gross profit was $ 11.8 million in the first quarter 2021 , compared to $ 9.9 million in the first quarter 2020 , an increase of $ 1.9 million , or 19.5 % . The Company's gross profit from its lime and limestone operations in the first quarter 2021 was $ 11.8 million , compared to $ 10.0 million in the first quarter 2020 , an increase of $ 1.8 million , or 17.6 % . The increase in gross profit in the first quarter 2021 , compared to the first quarter 2020 , resulted primarily from the increased revenues discussed above and increased operating efficiencies . Selling , general and administrative ( " SG & A " ) expenses were $ 3.1 million in the first quarter 2021 , compared to $ 3.2 million in the first quarter 2020 , a decrease of $ 0.2 million , or 4.7 % , primarily due to higher legal expenses in the first quarter 2020 related to the acquisition of Carthage , partially offset by increased stock - based compensation expense , principally due to higher prices for the Company's common stock . The Company reported net income of $ 7.0 million ( $ 1.24 per share diluted ) in the first quarter 2021 , compared to $ 5.5 million ( $ 0.98 per share diluted ) in the first quarter 2020 , an increase of $ 1.5 million , or 26.8 % . Federal , state , and local governmental restrictions in response to the COVID - 19 pandemic have continued to impact general business activities in the markets for the Company's lime and limestone products . While vaccination programs are having a positive effect on the resumption of normal business activities , the COVID - 19 pandemic is ongoing , and its magnitude and continuing effects remain uncertain .