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Owens Corning reported net sales of $1.39 billion for the second quarter of 2012, a 4.1% decrease from sales of $1.45 billion during the same period last year.

Net income for the second quarter, which ended June 30, was $39 million, compared with $78 million during the same period of 2011.

Building products manufacturer Owens Corning reported net sales of $1.35 billion for the first quarter of 2012, a 9% rise over sales of $1.24 billion during the same quarter a year ago. The company reported a net loss of $46 million for the quarter, which ended March 31, 2012, compared with net earnings of $24 million in the first quarter of 2011.

"Owens Corning delivered results in line with our expectations for the quarter," said chairman and CEO Mike Thaman. "We continue to be confident that we will grow adjusted EBIT in 2012.

Owens Corning Roofing & Asphalt has introduced its next generation of shingles designed to offer maximum durability. The new TruDefinition Duration Series Shingles are engineered with patented SureNail Technology to withstand the elements.

Owens Corning reported net sales of $1.5 billion for its second quarter of 2011, a 5% increase over sales of $1.4 billion in the same quarter of 2010.

Net income for the quarter, which ended June 30, was $78 million, compared with net earnings of $937 million a year ago. 

Owens Corning has reported net sales of $1.24 billion for its first fiscal quarter of 2011, a 2% decrease from sales of $1.27 billion in the first quarter of 2010. 

First-quarter 2011 net earnings were $24 million, compared with net earnings of $48 million a year ago. 

In composites, net sales increased during the first quarter of 2011 compared to the same period in 2010.  More than half of the increase in net sales was the result of higher selling prices during the quarter.

Stephen Krull, senior VP and general counsel of Owens Corning, has resigned, effective immediately, to pursue another opportunity, according to a Match 28 filing with the Securities and Exchange Commission (SEC). 

Krull will work with the company to ensure an orderly transition in responsibilities, the SEC document said. Owens Corning also announced that it has appointed John Christy as the interim general counsel. 

Owens Corning has signed an agreement to sell its masonry division, which makes Owens Corning Cultured Stone exterior siding, to Boral Industries in a two-part transaction, the company announced. 

The building products supplier will sell a 50% stake in its masonry products unit to Boral Industries for $45 million at closing, and the unit will then be operated jointly until early 2014. At that time, Owens Corning will sell its remaining 50% stake for $45 million and may receive additional proceeds dependent upon 2013 financial performance.