USG Q3 loss widens
USG Corp. reported third-quarter net loss of $115 million, compared with a net loss of $100 million in the third quarter of 2010. Net sales for the quarter totaled $792 million, up 4.5% from $758 million in the prior-year period.
"Many of our key markets continue to experience recessionary levels of demand that are near record lows," said James Metcalf, president and CEO. "To accomplish both our short-term objective of returning the company to an operating profit and our longer-term aspiration of reducing volatility in our earnings, we will continue to execute our three strategic priorities: strengthening core businesses, diversifying earnings and differentiating USG through innovation. We remain confident that by pursuing these strategies USG will remain a leading building solutions provider in its key product categories and markets."
The corporation’s adjusted operating loss was $17 million in the third quarter, compared with $23 million in the year-ago period. Adjusted operating loss excludes restructuring charges and non-cash long-lived asset impairment charges. The majority of these charges were non-cash and primarily relate to the planned closure of a gypsum quarry and ship loading facility in Windsor, Nova Scotia, Canada, that were idled in the first quarter of this year.
For the first nine months of 2011, the building products company reported a net loss of $290 million, compared with a net loss of $284 million in the first nine months of 2010. Net sales for the period totaled $2.3 billion, up 4.5% from $2.2 billion in the prior-year period.
No comments found
Builders FirstSource points to improvement
Builders FirstSource, the Dallas-based pro dealer, posted its best operating performance since the third quarter of 2007.
The company’s third quarter had sales of $217.2 million, up 20.4% from the same quarter last year. The company’s net loss narrowed to $11.6 million, down from $20.5 million in the third quarter of 2010.
The company reported gross margin percentage was 20.5%, up from 19.7%, a 0.8 percentage point increase from the third quarter of 2010. Specifically, margins improved 1.1% points due to increased sales volume combined with a decrease of fixed costs in costs of goods sold, which was offset slightly by a 0.4 percentage-point decrease in sales price.
"Though our financial results have continued to show improvement, the housing market remains very challenging, as does the overall state of the economy," said CEO Floyd Sherman.
According to Sherman, demographic trends and growing population must at some point boost demand for housing. "We are still optimistic about the long-term outlook of our industry, due largely to the increasing disparity between the current low level of housing starts and the on-going housing demand being created by current demographic trends," he said.
No comments found
Toll Brothers partners with EchoFirst
Luxury home builder Toll Brothers has partnered with EchoFirst, a solar energy provider, to build new communities in Arizona that provide a complete solar energy system for water, heating and cooling. EchoFirst supplements conventional solar electric PV panels with solar thermal technology that generates electricity for hot water, as well as thermal energy for heating and cooling the home. This enables Toll Brothers to offer homes that use 70% to 80% less energy than a standard code-built home, according to the announcement.
“We’re focused on delivering superior energy monitoring and applications, and Echo was the clear choice in the Arizona market,” said Mark Bailey, VP of Toll Brothers. “We’re thrilled that buyers of Toll Brothers homes in new communities in Arizona –Stratland Estates in Gilbert and Wingate Ranch in Scottsdale — can realize the tremendous benefits of Echo’s game-changing technology.”
Based in Fremont, Calif., Toll Brothers serves move-up, empty-nester, active-adult, and second-home buyers and operates in 19 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas and Virginia.
I like this blog. It is a
I like this blog. It is a rich content topic. It helps me solve a lot of problems. It updates at a very fast rate, and provides for me many opportunity, clubmz reviews
Thanks a lot for using the
Thanks a lot for using the great info is visible in this blog. This is providing the several interesting topics are display in this blog and the great technology in this blog. I hope you this is really very happy for the different technology is visible in this blog. nokia mobile prices
This really seriously a
This really seriously a pleasant article. An publishing that fit this description demonstrates exactly how seriously the idea is actually thought of by the source. florists in colorado
Wonderful post, very
Wonderful post, very informative. You must continue your writing and I will be here reading your blog quite a lot in the future. I can’t wait to read your next wonderful post. flower shops in new york city
A perfect info source. Thanks
A perfect info source. Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. fitness workout
I just wanted to say that I
I just wanted to say that I found your web site via Yahoo and I'm glad I did. Keep up the good work and I will make sure to bookmark you for when I have more free time away from the books. Thanks for sharing and keep up the good work. cell spyware
This post is exactly what I
This post is exactly what I am interested. we need some more good information. Please add more good information that would help others in such good way. Gangtok tour
As part of an assignment for
As part of an assignment for research I have to find an article with relevant information on this topic and give the teacher our opinion and the article. Your article helped me a lot. forex options
Very nicely written post it
Very nicely written post it contains useful information for me. I am happy to find your distinguished way of writing the post. Now you make it easy for me to understand and implement the concept. Thank you for the post. clubmz reviews
There are so many different
There are so many different aspects when it comes to this topic. Thank you so much for sharing your knowledge on this particular aspect. Nike Air Max 2011 Sneaker
This post has helped me to
This post has helped me to have another perspective. I am researching this topic for a paper I am writing. Your article provided me great insight of my topic. Honda Dealers Albany
Your blog is so beautiful and
Your blog is so beautiful and natural all are like your blog everyone appreciate your blog. Whenever We will see your blog every time we get something new about your blog This is the very informative content. I am very appreciate to your site who provide us this informative resource thank for sharing us this information cell phone spy
I like it a lot. You know
I like it a lot. You know precisely what your talking about, exactly where other people are coming from on this issue. I am glad that I had the fortune to Grants for Veterans stumble across your blog. I like it
This enables Toll Brothers to
This enables Toll Brothers to offer homes that use 70% to 80% less energy than a standard code-built home, according to the Ios On Android Phone announcement.This will help to save money.