Minerals Technologies Inc : Minerals Technologies Reports First Quarter Earnings of $0.53 per Share, a 4-Percent Increase over

   Minerals Technologies Inc : Minerals Technologies Reports First Quarter
         Earnings of $0.53 per Share, a 4-Percent Increase over 2012

                Record First Quarter Earnings for the Company
                                  ----------
Highlights:


· Operating Income of $27.1 million, 10.8% of Sales

· Record First Quarter Profit in Specialty Minerals Segment

· Growth in Asia PCC Volume & Profitability

· Company Signs Three New Agreements for FulFill^® E-325 Technology

· Repurchased $9.5 million in Treasury Stock in Quarter


NEW YORK, April 25-Minerals Technologies Inc. (NYSE: MTX) today reported net
income of $18.8 million, or $0.53 per share for the first quarter 2013,
compared with $18.0 million, or $0.51 per share in the first quarter of 2012,
a 4-percent increase.

"We began 2013 with solid operating performance, which generated a record in
profit for both Minerals Technologies and our Specialty Minerals segment,"
said Joseph C. Muscari, executive chairman. "During the quarter we saw organic
growth from new satellites ramping up in Asia, and we also announced three new
commercial agreements for our FulFill^® technology--two in North America and
one in South America."

The company's worldwide sales declined 2 percent to $251.3 million from $257.1
million in the first quarter of 2012. Foreign exchange had an unfavorable
impact of 1 percentage point of this decline, and two fewer days in the
quarter affected sales by an additional 2 percentage points. Operating income
was $27.1 million, a 1-percent increase over the $27.0 million recorded in the
prior year's first quarter.

First quarter worldwide sales for the Specialty Minerals segment, which
consists of the precipitated calcium carbonate (PCC) and Processed Minerals
product lines, were flat at $167.7 million. Underlying sales, excluding
foreign exchange and two fewer days in the quarter, increased 3 percent.

The Specialty Minerals segment's income from operations of $22.2 million--13.2
percent of sales--increased 12 percent over the $19.9 million in the same
period in 2012, and was a record first quarter performance. The increase was
due primarily to contributions from the ramp-up of new satellite facilities in
Asia, productivity improvements, higher pricing and good expense control.

Worldwide sales of PCC, which is used mainly in the manufacturing processes of
the paper industry, at $138.1 million, were flat with the previous year's
first quarter. Paper PCC sales were $121.3 million compared with $121.7
million in the same period last year. Sales growth in Asia, as a result of
three new PCC satellites, was offset by lower volumes in North America. Sales
of Specialty PCC increased 2 percent to $16.8 million from $16.4 million in
the prior year. This increase was primarily due to slightly higher volumes
and increased pricing.

"During the quarter, we continued to see additional acceptance of our
FulFill^® E-325 technology by the worldwide paper industry as we signed three
new commercial agreements--two in North America that wished to be unnamed for
competitive reasons, and one with CMPC Celulose Riograndense at a paper mill
in Guaiba, Brazil," said Mr. Muscari. "This technology allows papermakers to
increase loading levels of PCC by three to five points, replacing higher cost
pulp, and increasing PCC usage between 20 to 30 percent. To date we have 13
paper mills around the world under contract to use this cost-saving
technology."

Processed Minerals products first quarter sales were $29.6 million--even with
the first quarter of 2012. This product line, which includes ground calcium
carbonate and talc, are used in the building materials, polymers, ceramics,
paints and coatings, glass and other manufacturing industries.

First quarter sales in the Refractories segment, which provides products and
services primarily to the worldwide steel industry, were down 6 percent from
$89.4 million in the first quarter of 2012 to $83.6 million. The Refractories
segment recorded an operating income decrease of 24 percent to $6.9 million
from $9.1 million in the first quarter of 2012. The decline was primarily
attributable to two steel mill closures in North America last June, lower
equipment sales and lower profits in our Japanese business. These declines
were partially offset by contributions from new accounts in Europe, and from
the company's refractory maintenance contract at a new steel mill in Bahrain.

"Despite a challenging quarter for our Refractories business, as well as weak
markets in both steel and paper in North America and Europe, we had a strong
start to the year," said Mr. Muscari. "We believe we will continue on a
high-performance growth track for the rest of 2013 by deployment of our key
strategies of geographic expansion, new product innovation, and operational
excellence."

Contact:
Rick B. Honey
(212) 878-1831
                              -----------------
Minerals Technologies will sponsor a conference call tomorrow, April 26, 2013
at 11 a.m. The conference call will be broadcast live on the company web site:
www.mineralstech.com.
                              -----------------
This press release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, which describe or are
based on current expectations. Actual results may differ materially from these
expectations. In addition, any statements that are not historical fact
(including statements containing the words "believes," "plans," "anticipates,"
"expects," "estimates," and similar expressions) should also be considered to
be forward-looking statements. The company undertakes no obligation to
publicly update any forward-looking statement, whether as a result of new
information, future events, or otherwise. Forward-looking statements in this
document should be evaluated together with the many uncertainties that affect
our businesses, particularly those mentioned in the risk factors and other
cautionary statements in our 2012 Annual Report on Form 10-K and in our other
reports filed with the Securities and Exchange Commission.
                               ----------------
For further information about Minerals Technologies Inc. look on the internet
                       at http://www.mineralstech.com.

                                     ####



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                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
             MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
                    (in thousands, except per share data)
                                 (unaudited)
                                                                
                                    Quarter Ended            % Growth    
                           Mar. 31,  Dec. 31,  Apr. 1,  Prior  Prior 
                             2013      2012     2012    Qtr.   Year 
                                                                
Net sales                   $  251,289 $  244,165 $ 257,138     3%   (2)% 
                                                                
Cost of goods sold             196,401   191,069  202,201     3%   (3)% 
                                                                
Production margin               54,888    53,096   54,937     3%   (0)% 
                                                                
Marketing and                  22,934    22,377   22,898     2%     0% 
administrative expenses
Research and development         4,818     4,995    5,047   (4)%   (5)% 
expenses
 Income from operations        27,136    25,724   26,992     5%     1% 
                                                                
Non-operating income               168     (979)    (598)      *      * 
(deductions) - net
                                                                
 Income from continuing        27,304    24,745   26,394    10%     3% 
  operations, before tax
                                                                
Provision for taxes on           7,700     6,506    7,786    18%   (1)% 
income
                                                                
 Consolidated net income       19,604    18,239   18,608     7%     5% 
                                                                
Less: Net income                   848       469      576    81%    47% 
attributable to
non-controlling interests
                                                                
 Net Income attributable to $   18,756 $   17,770 $  18,032     6%     4% 
  Minerals Technologies
  Inc. (MTI)
                                                                
Weighted average number of                                         
common shares outstanding:
                                                                
 Basic                        34,996    35,196   35,436             
                                                                
 Diluted                      35,253    35,467   35,600             
                                                                
Earnings per share                                                 
attributable to MTI:
                                                                
 Basic:                    $     0.54 $     0.50 $    0.51     8%     6% 
                                                                
 Diluted:                  $     0.53 $     0.50 $    0.51     6%     4% 
                                                                
Cash dividends declared per  $    0.050 $    0.050 $   0.025             
common share
* Percentage not meaningful                                        
                                                                






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             MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
             NOTES TO CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                                                   
                                                                   
1) For comparative purposes, the quarterly periods ended March 31, 2013,
   December 31, 2012 and April 1, 2012 consisted of 90 days, 92 days, and 92
   days, respectively.
                                                                   
2) Free cash flow is defined as cash flow from operations less capital
   expenditures. The following is a presentation of the Company's non-GAAP
   free cash flow for the three month periods ended March 31, 2013, December
   31, 2012 and April 1, 2012 and a reconciliation to cash flow from
   operations for such periods. The Company's management believes this
   non-GAAP measure provides meaningful supplemental information as management
   uses this measure to evaluate the Company's ability to maintain capital
   assets, satisfy current and future obligations, repurchase stock, pay
   dividends and fund future business opportunities. Free cash flow is not a
   measure of cash available for discretionary expenditures since the Company
   has certain non-discretionary obligations such as debt service that are not
   deducted from the measure. The Company's definition of free cash flow may
   not be comparable to similarly titled measures reported by other companies.
                                              Quarter Ended             
  (millions of dollars)               Mar.       Dec.       Apr. 1,    
                                         31,         31,
                                     2013       2012        2012      
  Cash flow from operations         $    24.7   $    35.1   $      24.7   
  Capital expenditures                   8.7       14.3          9.4   
  Free cash flow                    $    16.0   $    20.8   $      15.3   
                                                                   
                                                                   
3) The following table reflects the components of non-operating income     
   and deductions:
                                                                   
  (millions of dollars)                         Quarter Ended             
                                     Mar.       Dec.       Apr. 1,    
                                         31,         31,
                                     2013       2012        2012      
  Interest income         $     0.7   $     0.7   $       1.0   
  Interest expense           (0.8)      (0.8)        (0.8)   
  Foreign exchange             0.6      (0.6)        (0.4)   
   gains (losses)
  Other income               (0.3)      (0.3)        (0.4)   
   (deductions)
  Non-operating        $     0.2   $   (1.0)   $     (0.6)   
   income (deductions), net
                                                                   
                                                                   
4) The analyst conference call to discuss operating results for the fourth
   quarter is scheduled for Friday, April 26, 2013 at 11:00 am and will be
   broadcast over the Company's website (www.mineralstech.com). The broadcast
   will remain on the Company's website for no less than one year.



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                              SUPPLEMENTARY DATA
             MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
                            (millions of dollars)
                                 (unaudited)
                                                                  
                                     Quarter Ended            % Growth    
SALES DATA                    Mar. 31,  Dec. 31,  Apr. 1,  Prior  Prior 
                               2013      2012     2012     Qtr   Year  
                                                                  
United States                $    139.8 $    135.0 $   145.8     4%   (4)% 
International                    111.5     109.2    111.3     2%     0% 
Net Sales              $    251.3 $    244.2 $   257.1     3%   (2)% 
                                                                  
Paper PCC                    $    121.3 $    118.8 $   121.7     2%   (0)% 
Specialty PCC                     16.8      16.1     16.4     4%     2% 
PCC Products                 $    138.1 $    134.9 $   138.1     2%     0% 
                                                                  
Talc                         $     12.4 $     11.0 $    12.1    13%     2% 
Ground Calcium Carbonate          17.2      14.9     17.5    15%   (2)% 
Processed Minerals Products  $     29.6 $     25.9 $    29.6    14%     0% 
                                                                  
Specialty Minerals Segment   $    167.7 $    160.8 $   167.7     4%     0% 
                                                                  
Refractory products          $     62.4 $     63.5 $    69.1   (2)%  (10)% 
Metallurgical Products            21.2      19.9     20.3     7%     4% 
Refractories Segment         $     83.6 $     83.4 $    89.4     0%   (6)% 
                                                                  
Net Sales             $    251.3 $    244.2 $   257.1     3%   (2)% 
                                                                  
SEGMENT OPERATING INCOME (LOSS) DATA                                 
                                                                  
Specialty Minerals Segment   $     22.2 $     19.6 $    19.9    13%    12% 
                                                                  
Refractories Segment         $      6.9 $      7.5 $     9.1   (8)%  (24)% 
                                                                  
Unallocated Corporate        $    (2.0) $    (1.4) $   (2.0)    43%     0% 
Expenses
                                                                  
Consolidated                 $     27.1 $     25.7 $    27.0     5%     0% 




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             MINERALS TECHNOLOGIES INC. AND SUBSIDIARY COMPANIES
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                                                            
                                                            
                                                            
    ASSETS                                                    
                                                            
   (In Thousands of Dollars)                                  
                                                  March 31,  December 31,
                                                    2013*       2012**
                                                            
Current assets:                                               
   Cash & cash equivalents                         $   454,331 $      454,092
   Short-term investments                              15,586        14,178
   Accounts receivable, net                           197,834       193,328
   Inventories                                        88,755        84,569
   Prepaid expenses and other current assets           18,364        18,318
              Total current assets                   774,870       764,485
                                                            
   Property, plant and equipment                    1,256,112     1,261,952
   Less accumulated depreciation                      943,676       944,283
              Net property, plant & equipment        312,436       317,669
                                                            
   Goodwill                                           65,081        65,829
   Other assets and deferred charges                   58,732        63,206
                                                            
                                                            
              Total assets                        $ 1,211,119 $    1,211,189
                                                            
                                                            
       LIABILITIES AND SHAREHOLDERS' EQUITY                    
                                                            
Current liabilities:                                           
   Short-term debt                                 $     7,226 $        7,111
   Current maturities of long-term debt                77,260        76,977
   Accounts payable                                   109,857        98,371
   Other current liabilities                           55,785        67,639
              Total current liabilities              250,128       250,098
                                                            
   Long-term debt                                       8,200         8,478
   Other non-current liabilities                      140,032       138,894
              Total liabilities                      398,360       397,470
                                                            
   Total MTI shareholders' equity                     789,558       790,411
   Non-controlling Interest                            23,201        23,308
              Total shareholders' equity             812,759       813,719
                                                            
              Total liabilities and shareholders' $ 1,211,119 $    1,211,189
                equity
                                                            
                                                            
  * Unaudited                                                 
 ** Condensed from audited financial statements.               

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Source: Minerals Technologies Inc via Thomson Reuters ONE
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