USG Corp. (NYSE: USG), Chicago, IL, reported first quarter 2012 sales of $812 million, up 13 percent from first quarter 2011. The manufacturer and distributor of building materials reported a net loss of $27 million, compared to a year-ago net loss of $105 million.
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\”Despite continuing low demand, our emphasis on achieving operating profit is succeeding, and continues to be a top priority,\” said James S. Metcalf, president and CEO. \” All units showed improved results, supported by a modest increase in U.S. wallboard demand and solid performance across our product lines including ceilings, substrates and joint compounds.\”
Sales for L&W Supply Corp., the distribution subsidiary of USG Corp., increased 11.1 percent in the first quarter to $270 million. Same-store sales increased 13 percent. Operating loss for the first quarter was $6 million, compared with $22 million a year ago.
North American Gypsum sales grew 16.8 percent to $486 million, while Worldwide Ceilings sales grew 3.4 percent. Operating profit for the two segments was $32 million and $29 million, respectively.
