Usg Corporation (USG)

USG Corporation (NYSE:USG), a leading building products company, today reported third quarter 2009 net sales of $822 million and a net loss of $94 million, or $0.96 per diluted share. For the same period a year ago, the corporation recorded net sales of $1.2 billion and a net loss of $36 million, or $0.36 per diluted share.
USG's CEO said USG's businesses continued to experience weak demand that resulted in lower sales in the third quarter. "In response to the steep sales declines over the past year we have focused intensely on customer satisfaction, cost reductions, product margins and liquidity. These initiatives have been effective in mitigating operating losses caused by dramatically lower demand. We have also been successful in generating cash from our operating activities and managing liquidity.”

Oct 21 · 10:20:00 AM · Source: Business Wire
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by Larry Etter