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Monday, February 28, 2011

Warren Buffet: "Best Days Lie Ahead"

Warren Buffett is out with his annual letter to investors, and the genius investor says the nation is going through a hiccup in its tradition of growth and innovation and the "best days lie ahead."

Wednesday, February 23, 2011

National Gypsum Company - The Facts About National Gypsum Drywall

National Gypsum Company - The Facts About National Gypsum Drywall

USG Reports Results

USG Reports Q4 Results

USG Corporation Reports 2010 Fourth Quarter and Full Year Results CHICAGO--(BUSINESS WIRE)--USG Corporation (NYSE:USG):
“While 2011 is likely to be another difficult year, we think the worst may be behind us”
Consolidated Business Highlights

•Sales declined 3.3 percent to $696 million •Operating loss of $95 million compared to $11 million •Adjusted operating loss of $39 million compared to $77 million
Business Unit Highlights

•U.S. Gypsum wallboard shipments totaled 945 MMSF vs. 1.06 BSF •U.S. Gypsum average wallboard price of $111.95 per thousand feet vs. $109.86 •Worldwide Ceilings operating profit increased $7 million

•L&W same store net sales declined 3.4 percent, total sales declined 7.4 percent
USG Corporation (NYSE:USG), a leading building products company, today reported fourth quarter 2010 net sales of $696 million, an operating loss of $95 million and a net loss of $121 million, or $1.17 per diluted share based on 102.9 million average diluted shares outstanding. In last year’s fourth quarter, the operating loss was $11 million and the net loss was $598 million, or $6.02 per diluted share based on 99.3 million average diluted shares. The company recorded full year 2010 net sales of $2.9 billion, an operating loss of $260 million and a net loss of $405 million. For the full year 2009, net sales were $3.2 billion, the operating loss was $185 million and net loss was $787 million.

“Our adjusted operating results improved in a declining U.S. market, we added to our liquidity and we continued to drive down costs,” said James S. Metcalf, President and CEO.
The corporation’s adjusted operating loss was $39 million in the fourth quarter of 2010, which compares to an adjusted operating loss of $77 million in the fourth quarter of 2009. The adjusted operating loss for the fourth quarter of 2010 excludes $56 million of restructuring and asset impairment charges. The adjusted operating loss for the fourth quarter of 2009 excludes $31 million of restructuring and asset impairment charges and $97 million of income from the settlement of litigation.

“While 2011 is likely to be another difficult year, we think the worst may be behind us,” Metcalf continued. “There is still a high degree of uncertainty about the shape and timing of the recovery, but we know that our operating strategies are working and that the fundamentals underlying our core businesses are solid.”
Looking ahead, Metcalf said, “We remain optimistic about the long-term. Basic demographics, the aging domestic housing stock, and a general economic recovery in the U.S. will ultimately stimulate demand for our products. The company is poised to capture the significant operating leverage in our business when market demand rebounds from the historic lows experienced recently.”

Fannie Mae: Housing Starts top Triple by 2013

February 22, 2011 (Shirley Allen)

Despite data indicating otherwise, Fannie Mae is predicting that it expects housing starts to triple by 2013. According to the agency’s economic outlook, housing starts are predicted to increase 17.3 percent and hit 710,000 this year, with another 47 percent increase to 1.1 million in 2012 and another gain of 42 percent in 2013 to nearly 1.5 million.
However, based on January’s data, their prediction may be a little over optimistic. Data in January saw housing starts jump 15 percent compared to December for a total of 596,000 seasonally adjusted units, but building permits were down 22.4 percent, which is a sign of future building activity.
The highlight of the January housing report is the robust 80% gain in multi-family housing as single-family home construction dropped 1 percent compared to December. Multi-family construction is expected to increase as the housing crisis and tighter lending standards increase the number of renters.
In 2010, there were approximately 587,000 housing starts, that includes single family and multi-family units.
“We expect a small rise in home sales this year, but significant amounts of supply and shadow inventory of expected foreclosures will continue to hamper a robust housing picture for some time,” said Doug Duncan, Fannie Mae’s chief economist.
Fannie Mae projects total sales of new and existing homes to climb 4.5% in 2011 to 5.43 million, following an estimated decline of 6% for 2010 to about 5.2 million from 5.53 million for 2009. Mortgage originations will drop to $1.04 trillion this year from $1.53 trillion last year. Fannie Mae also expects mortgage rates will increase in 2011, but with rates remaining under 5.5 percent.
The median new home price in 2011 is expected to drop, as is the median existing home sale price, down 2.1% to $214,500 and 2.1% to $167,900, respectively, due to the large amount of competing foreclosures expected to enter the housing market this year.

Lafarge Posts Earnings

2010 full year results Date 02/18/2011

Euronext Paris : LG Volumes return to growth in the fourth quarter Group positioned for 2011 earnings growth and substantial deleveraging

Fourth-quarter key figures
Sales up 9% to €3,959m
Current operating income up 7% to €530m Net income Group share increased to €62m Net earnings per share increased to €0.22
Year-to-date key figures
Sales up 2% to €16,169m Current operating income down 1% to €2,441m Net income Group share increased 12% to €827m Net earnings per share increased to €2.89 Dividend of €1per share, subject to AGM approval

Group Highlights
Sales increased for the full year and quarter, helped by improved cement and aggregates volume trends, favorable foreign exchange, and new capacities in Brazil. Structural cost savings exceeded target, reaching €220 million for the year, of which €50 million in the fourth quarter. Current operating income slightly down for the year but rose for the quarter as higher sales volumes, favorable foreign exchange and cost cutting offset higher energy costs. Secured over €500m of divestments, meeting target for the year. Significant cash flow generation in 2010 helped by strong results on working capital. Strong cash and liquidity position maintained. Lower cost base, new capacities, and actions to mitigate higher cost inflation are in place to drive earnings growth in 2011 as volumes recover.

Bruno Lafont, Chairman and Chief Executive Officer of Lafarge, said:
"While 2010 was a tough year for the cement sector as a whole, I am encouraged by the return to cement volume growth in the fourth quarter and the successful cash generation accomplishments of our operating teams in the last two years. The steps we have taken in 2010, ranging from structural cost savings to strategic investments in growing markets such as Brazil, will provide the foundation for further improvement and growth as we enter 2011. It will also allow the Group to accelerate deleveraging and reduce its debt by at least two billion euro in 2011. We will get the full benefits from volume growth thanks to our new cement capacities and the overall quality and strength of our portfolio of assets."

The Group estimates cement demand in its markets to grow between 3 to 6 percent in 2011 versus 2010. Emerging markets continue to be the main driver of demand and Lafarge benefits from its well balanced geographic spread of high quality assets. For developed markets, the Group expects that demand will continue to slowly recover.

Overall pricing is expected to move higher for the year, although levels of pricing movements will vary by market.

Shares increased in April 2009 due to the rights issue completed by the Group. Basic average number of shares outstanding of 265.5m at end of December 2009 compared to 286.1m at the end of December 2010. (2)Free cash flow for the full year excludes the €338m one-time payment for the Gypsum competition fine paid in the third quarter 2010.
Current operating income

Current operating income (€m) Fourth quarter Full Year 2009 2010 Variation 2009 2010 Variation Cement 507 503 -1% 2,343 2,230 -5% Aggregates & Concrete 46 53 15% 193 216 12% Gypsum (4) 10 38 58 53% Other (55) (36) (97) (63) TOTAL 494 530 7% 2,477 2,441 -1%

Highlights by business
Sales were up 10% in the quarter and up 2% for the year, reflecting the impact of recovering volumes and foreign exchange. Volumes increased 2% in the quarter and were down 4% year-to-date, with volume growth in North America and Latin America helping to partially offset declines in other regions. Pricing remained resilient in the face of difficult market conditions. Costs in the fourth quarter benefited from the reversal of a regulatory fee on past purchases of raw materials in Egypt. Cost reduction program strongly benefited all regions. Current operating income down 1% in the quarter and down 5% year-to-date due to the inflationary impact of energy and other costs.

Aggregates & Concrete
Sales moved up 7% in the quarter and up 1% for the year due to volume growth for aggregates, slower rates of volume decline in the ready mix concrete business, and favorable foreign exchange. Operating income margins improved both year-to-date and in the quarter. Current operating income grew 15% in the quarter and 12% year-to-date, reflecting the impact of improved sales, favorable foreign exchange, and strong cost reduction measures.

Sales were up 10% in the quarter and up 6% year-to-date as volume growth compensated for lower pricing. Current operating income was higher for the quarter and year-to-date as market activity improved.
Investments, divestments and Liquidity
Investments totaled €1.4 billion for 2010, compared to €1.7 billion in 2009. Sustaining capital expenditures decreased by 3% to €359 million in 2010. Internal development capital expenditures were down 23% to €950 million in 2010. Acquisitions were €84 million in 2010, down from last year. Lafarge received €364 million in cash for divestments in 2010 of the €550 million secured as of year-end. As of December 31, 2010, the Group had €3.8 billion in committed credit lines with an average maturity of around 3 years in addition to €3.3 billion of cash on hand. There are no financial covenants on debt at the Lafarge SA level.

Tuesday, February 22, 2011

Delta Gypsum is a Proud Partner of Passage Home

Operation Coming Home

Products and Services

Products & Services
Our commitment to expert service means jobsite delivery and stocking that is custom designed to meet your needs.

Our professional stocking service has made us the supplier of choice throughout North Carolina.

Our expert service results in convenience for our customers through quick, knowledgeable and efficient handling of their will-call needs.

Whether you're a large contractor or a small retail buyer, when you pick up materials at Delta Gypsum you will not be waiting in line or chasing down a yard attendant to get the materials that you need.

• National Gypsum Wallboard
• American Gypsum Wallboard
• Lafarge Gypsum Drywall
• Georgia-Pacific Toughrock
• Certainteed Gypsum ProRoc

• National Gypsum PermaBase
• Georgia-Pacific DensShield
• USG Durock

• National Gypsum Hi- Abuse XP and Hi-Impact XP
• Lafarge Gypsum Protecta AR 100 with Mold Defense

• National Gypsum Shaftwall
• Georgia-Pacific Ultra Shaftliner
• Lafarge Mold Defense Shaftliner
• Shaftwall Clips and Accessories

• National Gypsum Kal-Kote System

FRP (Fiberglass Reinforced Plastic Paneling)
• Glasteel Glasliner
• Sequentia Paneling Products
• OSI FRP Adhesive
• Franklin International FRP Adhesive

INSULATION—(Fiberglass, Kraft, Unfaced, Foil,Mineral Fiber, Sound Attenuation, Fire-Safing)
• Guardian Fiberglass
• CertainTeed Insulation
• Owens-Corning Insulation
• JohnsManville Insulation

• National Gypsum ProForm
• National Gypsum XP Mold Resistant Joint Compound
• Magnum Joint Compound
• USG Sheetrock Joint Compound
• Lafarge Rapid Deco Level 5 Joint Compound
• Georgia-Pacific Firehalt Fire Compound
• FlameTech Fire Caulking• Franklin Drywall Adhesive
• OSI Drywall Adhesive

• Studs
• Track
• Shaftwall Framing
• L-Metal
• Cold Rolled Channel
• Resilient Channel
• Strapping

• National Gypsum Joint Tape
• CertainTeed Joint Tape
• Strait-Flex Flexible Tape
• LevelLine Flexible Tape

• CertainTeed Ceiling Tile
• Armstrong Ceiling Tile
• USG Ceiling Tile
• National Gypsum Gridstone Vinyl Tile

• Chicago-Metallic Grid
• Armstrong Grid
• USG Grid
• Ceiling clips and accessories

• Metal Beads
• Trim Tex Plastic Bead Drywall Art
• Paperfaced Beads

• Tite-Lock Screws
• Primesource Nails
• Ramset Shots and Pins

• Lafarge Rapid Deco Level 5 Finish
• National Gypsum Soundbreak
• Quiet Solution QuietRock
• Easy Arch Metal Arches
• Lead-Lined Sheetrock

• Columbia Taping Tools
• Porter-Cable Power Sander
• DeWalt Power Drywall Tools
• Laser Levels
• Dura-Stilts
• WallBoard Tools
• Hyde Tools
• Tool Pro Brand Drywall Tools
• Leather Goods
• Spray Guns and Hoppers
• Master Heaters
• Sandpaper and Sponges

• Access Doors
• Drywall Dollies and Carts
• Scaffolding
• Plastics/Poly

*Some items may be special order. If we don't have it let us know and we will get it!

About Us

About Us

In 1989, Delta Gypsum, Inc. started in Graham, North Carolina as a distributor of wallboard and related building products. Its current headquarters is in Wake Forest, North Carolina. Founded by Phil Ritchie, the legacy of this mid-atlantic based premium distributor continues on its family roots and traditions with David Ritchie and John Kindt. The new leadership ushers in the next generation of family to keep growing and serving the many loyal customers and friends we have had for years.

Company Mission

The company mission is simple, yet time-tested and successful:
  • People are our most important asset and should be compensated based on job performance. They should have the opportunity to earn incentives in every possible way.
  • Delta Gypsum would have nothing without the customer and his need for our products and services. Delta Gypsum has a total commitment to service and to meet our customer's needs.
  • Delta Gypsum is loyal to suppliers who meet our quality and service requirements through all market conditions.
  • Delta Gypsum encourages and supports worthwhile community causes.
Associations & Registrations


  • Association of the Wall & Ceiling Industries (AWCI)