Ceramic Industry News

USG Reports Third Quarter Results

November 1, 2001
/ Print / Reprints /
ShareMore
/ Text Size+
USG Corp. recently reported third quarter 2001 net sales of $842 million and net earnings of $27 million. This compared with net sales of $956 million and net earnings of $65 million in the third quarter last year. Diluted earnings per share for the third quarter of 2001 were $0.61, compared with $1.48 a year ago. This year's third quarter results benefited from the reversal of certain restructuring-related charges taken last year. The reversals increased net earnings by $7 million, or $0.15 per share, in the quarter. The decline in sales and earnings was primarily due to lower selling prices for SHEETROCK(R) brand gypsum wallboard sold by USG's United States Gypsum Co. subsidiary. Prices have fallen considerably over the past two years as the gypsum wallboard industry has added significant amounts of new capacity. Market conditions did improve somewhat during the third quarter as demand grew and some excess industry capacity closed, allowing the company to raise prices for the first time since the end of 1999. Net sales for the first nine months of 2001 were $2,474 million, versus net sales of $2,940 million for the same period in 2000. Net earnings for the first nine months were $25 million compared to $264 million for that period last year. Diluted earnings per share for the first nine months of 2001 were $0.57, compared to $5.66 for the first nine months of 2000.

For more information, visit http://www.usg.com.

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

September 2014 Issue Highlights

Our September 2014 issue is now available!

Posted: December 15, 2014

Podcasts

Manufacturing Day 2014

Manufacturing Day organizers share their insights with Managing Editor Kelsey Seidler.

More Podcasts

Ceramic Industry Magazine

CI December 2014 cover

2014 December

Be sure to check out our annual Services Directory and Business Guide, with additional articles on advanced glass components, ceramic grinding media, and more!

Table Of Contents Subscribe

Personal Smartphones

Do you use your personal smartphone or other device to complete tasks for your job?
View Results Poll Archive

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!