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Friday, July 22, 2011

USG Corporation Reports Second Quarter 2011 Results

Consolidated Business Highlights

  • Sales decreased to $761 million compared to $769 million
  • Operating loss of $21 million compared to $25 million
  • Adjusted operating loss of $19 million compared to $18 million
Business Unit Highlights

  • U.S. Gypsum wallboard shipments totaled 986 MMSF vs. 1,070 MMSF
  • Worldwide Ceilings operating profit of $22 million compared to $23 million
  • L&W operating loss of $14 million compared to $22 million
USG Corporation (NYSE:USG), a leading building products company, today reported second quarter 2011 net sales of $761 million, an operating loss of $21 million and a net loss of $70 million, or $0.69 per share based on 103.6 million average shares outstanding. In last year's second quarter, the operating loss was $25 million and the net loss was $74 million, or $0.74 per share based on 99.5 million average shares outstanding. 

For the first half of 2011, the corporation reported net sales of $1.5 billion and a net loss of $175 million, or $1.70 per share based on 103.3 million average shares outstanding. For the first half of 2010, net sales were $1.5 billion and the net loss was $184 million, or $1.85 per diluted share based on 99.5 million average shares outstanding. The corporation's results for the first six months of 2011 included restructuring and long-lived asset impairment charges of $11 million, and its results for the first six months of 2010 included restructuring and long-lived asset impairment charges of $19 million.   

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