Sales dip slightly at USG
USG Corp., a leading building products company, today reported net sales of $761 million for its second quarter of 2011, a 1.04% decrease over sales of $769 million a year ago.
The company posted an operating loss of $21 million and a net loss of $70 million, compared with $25 million and $74 million, respectively, in the second quarter of 2010.
U.S. Gypsum wallboard shipments totaled 986 MMSF in the second quarter of 2011 versus 1,070 MMSF a year ago. Revenues for the U.S. Gypsum division were $322 million in the second quarter, a 4.2% decrease from $336 million a year ago. L&W Supply, the distribution arm of USG, recorded an operating loss of $14 million compared with $22 million during the same period last year.
“We are continuing to pursue our near-term and long-term strategic priorities during the protracted recession in our domestic markets,” said James Metcalf, president and CEO. “By strengthening our core businesses, diversifying the sources of our earnings and aggressively leveraging our innovation leadership to differentiate USG’s products from the competition, we are confident that we can successfully navigate this recession and capitalize on a recovery.”