USG Corporation (NYSE: USG), Chicago, IL, reported sales for 2010 were $2.94 billion, down 9.1 percent from 2009. The building products company recorded a net loss for the year of $405 million, compared to the year-ago loss of $787 million.
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For the fourth quarter, sales were $696 million, down 3.3 percent from the same period a year ago. The company recorded a net loss of $121 million, compared to the year-ago loss of $598 million.
\”While 2011 is likely to be another difficult year, we think the worst may be behind us,\” said James S. Metcalf, president and CEO. \”There is still a high degree of uncertainty about the shape and timing of the recovery, but we know that our operating strategies are working and that the fundamentals underlying our core businesses are solid.\”
L&W Supply Corp., No. 8 on the list of top building materials/construction distributors, and its subsidiaries, which comprise USG’s building products distribution segment, reported 2010 sales of $1.06 billion, down 18 percent compared to 2009. For the fourth quarter, sales declined 7.4 percent to $250 million; same-store sales declined 3.4 percent.
L&W Supply recorded a net loss of $12 million for the fourth quarter and $97 million for 2010, compared to losses of $63 million and $172 million for the respective prior year periods.
USG’s North American Gypsum segment reported 2010 sales of $1.66 billion and an operating loss of $165 million. In 2009, the segment reported sales of $1.77 billion and an operating loss of $9 million.
USG’s Worldwide Ceilings segment reported 2010 net sales of $660 million, down $3 million compared with 2009. Operating profit was $74 million, up 19 percent over 2009.
