WASHINGTON (dpa-AFX) - USG Corp. (USG) posted a significantly narrower first quarter net loss of $27 million or $0.26 per share compared with $105 million or $1.01 per share loss a year earlier. On average, 16 analysts polled by Thomson Reuters expected loss per share of $0.42 for the quarter. Analysts' estimates typically exclude one-time items.
Net sales for the first quarter of 2012 reached $812 million, up 13 percent from last year's $721 million, while 12 analysts projected $807.22 million revenue for the quarter.
Chairman, President and CEO said, 'Our focus on our customers, innovation and growing our adjacent businesses contributed to our first quarter results. All units showed improved results, supported by a modest increase in U.S. wallboard demand and solid performance across our product lines including ceilings, substrates and joint compounds. Of particular note is the market enthusiasm over our expanding line of SHEETROCK Brand UltraLight Panelsproducts, which now include both SHEETROCK Brand UltraLight Panels FIRECODE 30 and SHEETROCK Brand UltraLight Panels FIRECODE X, as well as our SHEETROCK Brand UltraLightweight All Purpose Joint Compound.'
Copyright RTT News/dpa-AFX
© 2012 AFX News
