USG Corp. has reported fourth quarter net sales of $841 million and
net earnings of $34 million, excluding special charges. The company
reported a net loss of $523 million after $557 million in special
after-tax charges associated with asbestos litigation and business
restructuring initiatives. Diluted earnings per share for the fourth
quarter were 78 cents, excluding the special charges, and a net loss
of $12.05 including them. USG recently announced that it would take
year-end charges totaling $904 million, or $557 million net of tax
benefits. Of the $904 million in charges, $850 million is a charge
related to the estimated cost of settling asbestos claims and $54
million reflects a restructuring charge for plant shutdowns,
severance costs and inventory write-offs.
For additional information, visit http://www.usg.com.
