RMX Ready Mix

READY MIX, INC. (RMI)(AMEX:RMX) today announced financial results for 2008.

"RMI's financial results for 2008 primarily reflected the weakness in residential construction in the metropolitan areas of Las Vegas, Nevada and Phoenix, Arizona that persisted throughout the year and reduced demand for our ready mix concrete products. Non-residential construction, which typically lags residential construction by a year or more and had held up relatively well through the third quarter, also began to show signs of weakness in the fourth quarter. We have reduced costs wherever possible, including reductions in personnel and capital spending, while maintaining our ability to provide excellent service for our customers and protect our market share. While the timing of the recovery is uncertain, we believe RMI is well-positioned for renewed growth when market conditions improve," said Chief Executive Officer Bradley Larson.

Twelve Months Results

For the twelve months ended December 31, 2008, revenue decreased 21.5% to $60.7 million, compared to revenue of $77.4 million for 2007. Cubic yards of concrete sold decreased 16.4% for 2008 compared to 2007, while average unit sales price decreased 6.8%.

Gross profit decreased to $0.1 million, compared to gross profit of $6.2 million for 2007.

General and administrative expenses were $4.6 million for 2008, essentially unchanged compared to 2007.

The net loss for 2008 was $2.95 million, or $0.77 per basic and diluted share. This compares to net income for 2007 of $1.36 million, or $0.36 per basic and diluted share.

Fourth Quarter Results

For the three months ended December 31, 2008, revenue decreased 25.4% to $11.5 million, compared to revenue of $15.4 million for the fourth quarter of 2007. Cubic yards of concrete sold decreased 20.3% for the fourth quarter of 2008 compared to the same period of 2007, while average unit sales price decreased 4.7%.

Gross loss for the fourth quarter of 2008 was $0.2 million. This compares to gross profit of $0.6 million for the fourth quarter of 2007.

The net loss for the fourth quarter of 2008 was $1.2 million, or $0.32 per basic and diluted share. This compares to a net loss for the fourth quarter of 2007 of $0.2 million, or $0.05 per basic and diluted share.

Balance Sheet Highlights

At December 31, 2008, Ready Mix, Inc. reported working capital of approximately $9.6 million, including cash and cash equivalents of $4.2 million, a current ratio of approximately 2.7, and total stockholders' equity of $26.4 million, or $6.94 per outstanding share. At December 31, 2007, Ready Mix, Inc. reported working capital of approximately $11.8 million, including cash and cash equivalents of $9.2 million, a current ratio of approximately 2.5, and total stockholders' equity of $29.2 million, or $7.67 per outstanding share.

Conference Call

Ready Mix, Inc. has scheduled a conference call today at 11:00 a.m. EST. To participate in the call, dial (212) 231-2903 and ask for the Ready Mix conference call, reservation #21414950. A simultaneous webcast of the conference call may be accessed online at the Investor Information link of www.readymixinc.com. A replay will be available after 1:00 p.m. EST at this same Internet address. For a telephone replay, dial (800) 633-8284, reservation #21414950 after 1:00 p.m. EST.

About Ready Mix, Inc.

Ready Mix, Inc. (RMI) has provided ready-mix concrete products to the construction industry since 1997. RMI currently operates four ready-mix concrete plants in the metropolitan Phoenix, Arizona area, three plants in the metropolitan Las Vegas, Nevada area, and one plant in Moapa, Nevada. RMI also operates two sand and gravel crushing and screening facilities near Las Vegas, Nevada, which provide raw materials for its Las Vegas and Moapa concrete plants.

Forward-Looking Statements

The statements in this press release that are forward looking are based on current expectations and actual results or future events may differ materially. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company or future events to differ materially from those expressed in or underlying such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of the Company's business plan; financing risks; acquisition and location development risks; potential environmental and other liabilities; and other factors affecting the construction industry generally. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the Company's annual report on Form 10-K for the year ended December 31, 2008, and other subsequent filings by the Company with the Securities and Exchange Commission.

� READY MIX, INC. STATEMENTS OF OPERATIONS � � � Three months ended � Twelve months ended December 31, December 31, � 2008 � � � 2007 � � 2008 � � � 2007 � (unaudited) Revenue: Revenue $ 11,467,007 $ 15,099,879 $ 60,150,696 $ 75,620,128 Revenue - related parties � 20,690 � � 306,402 � � 550,364 � � 1,744,544 � Total revenue 11,487,697 15,406,281 60,701,060 77,364,672 � Cost of revenue � 11,727,528 � � 14,824,781 � � 60,637,366 � � 71,210,190 � � Gross profit (loss) (239,831 ) 581,500 63,694 6,154,482 � General and administrative expenses � 1,502,671 � � 1,110,117 � � 4,631,061 � � 4,574,463 � � Income (loss) from operations � (1,742,502 ) � (528,617 ) � � (4,567,367 ) � 1,580,019 � � Other income (expense): Interest income 17,716 101,101 153,550 385,353 Interest expense (25,396 ) (27,937 ) (107,379 ) (137,533 ) Other income � 57,759 � � 55,270 � � 132,632 � � 283,470 � � � 50,079 � � 128,434 � � 178,803 � � 531,290 � � Income (loss) before income taxes (1,692,423 ) (400,183 ) (4,388,564 ) 2,111,309 � Income tax benefit (expense) � 468,388 � � 201,532 � � 1,438,999 � � (756,107 ) � Net income (loss) $ (1,224,035 ) $ (198,651 ) $ (2,949,565 ) $ 1,355,202 � � Net income (loss) per common share Basic $ (0.32 ) $ (0.05 ) $ (0.77 ) $ 0.36 �

Diluted

$

(0.32

)

�

$

(0.05

)

�

$

(0.77

)

�

$

0.36

� �

Weighted average common shares outstanding

Basic � 3,809,500 � � 3,809,500 � � 3,809,500 � � 3,808,337 �

Diluted

�

3,809,500

�

�

�

3,809,500

�

�

�

3,809,500

�

�

�

3,817,009

� �

�

READY MIX, INC. BALANCE SHEETS � � � December 31, � 2008 � � 2007 Assets: � Current assets: Cash and cash equivalents $ 4,204,280 $ 9,157,868 Accounts receivable, net 6,751,769 7,892,523 Inventory 1,411,761 1,151,926 Prepaid expenses 1,189,598 1,156,086 Income tax receivable 1,026,133 -- Due from affiliate -- 37,859 Deferred tax asset � 696,892 � 359,396 Total current assets 15,280,433 19,755,658 � Property and equipment, net 23,988,688 26,347,234 Refundable deposits � 108,079 � 176,188 Total assets $ 39,377,200 $ 46,279,080 � � Liabilities and Stockholders' Equity:

�

� Current liabilities: Accounts payable $ 2,329,620 $ 3,888,856 Accrued liabilities 966,058 2,023,403 Notes payable 2,204,706 2,019,192 Obligations under capital leases -- 4,634 Due to affiliate 177,825 -- Income tax payable � -- � 11,738

Total current liabilities

5,678,209 7,947,823 � Notes payable, less current portion 6,041,731 7,821,295 Deferred tax liability � 1,216,100 � 1,290,823 Total liabilities � 12,936,040 � 17,059,941 � Commitments and contingencies � Stockholders' equity:

Preferred stock - $0.001 par value; 5,000,000 shares authorized, none issued and outstanding

-- --

Common stock - $0.001 par value; 15,000,000, shares authorized 3,809,500 issued and outstanding

3,810 3,810 Additional paid-in capital 18,362,557 18,190,971 Retained earnings � 8,074,793 � 11,024,358 Total stockholders' equity � 26,441,160 � 29,219,139 Total liabilities and stockholders' equity $ 39,377,200 $ 46,279,080