Ceramic Industry News

Owens Corning Reports 12% Decrease in Net Sales

Owens Corning has reported that its consolidated net sales decreased from $1.3 billion in the third quarter of 2009 to $1.2 billion in the third quarter of 2010, a decrease of 12%. Third quarter 2010 adjusted earnings were $44 million, or $0.35 per adjusted diluted share, compared with $78 million, or $0.61 per adjusted diluted share, in the third quarter of 2009. The company’s third quarter 2010 net earnings were $58 million, or $0.46 per diluted share, compared with net earnings of $80 million, or $0.63 per diluted share, in the third quarter of 2009.

According to the company, composites benefited from consistently strong global demand and positive pricing momentum, which produced strong operating performance. Roofing continued to sustain margins above 20% in the quarter, despite a significant market correction. Insulation achieved higher pricing in the quarter and maintained a disciplined approach to managing capacity as challenging market conditions persisted.

“Owens Corning repurchased $100 million of shares during the quarter based on our strong outlook,” said Mike Thaman, chairman and CEO. “We’re on track to deliver significant EBIT growth in 2010 in a difficult economic environment.”

For additional details, visit www.owenscorning.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

December 2014 Issue Highlights

Our December 2014 issue is now available! Posted: April 27, 2015.

Podcasts

Ceramics Expo podcast
Editor Susan Sutton discusses the upcoming Ceramics Expo with event director Adam Moore.
More Podcasts

Ceramic Industry Magazine

CI May 2015 cover

2015 May

Our May issue covers bulk batching, pneumatic conveyors, high-temperature furnaces and more! Be sure to check it out today.

Table Of Contents Subscribe

Daily News

We know where you find the latest ceramic industry news (ahem), but where do you catch up on the rest of your daily news?
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!