USG Corporation (NYSE: USG) reported first quarter 2011 sales of $721 million, a slight increase over sales of $716 million in first quarter 2010. The building materials company recorded a net loss of $105 million for the period, compared to a year-ago loss of $110 million.
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\”As expected, we experienced generally weak demand in our domestic markets during the quarter,\” said James Metcalf, president and CEO. \”We are seeing signs of stabilization in U.S. commercial construction and positive trends in the repair and remodel segment, but the new residential construction market remains weak.\”
L&W Supply Corp., USG’s building products distribution segment, reported sales of $243 million in the first quarter, a decrease of 2 percent in a year-over-year comparison. Same-store net sales were down 1 percent.
North American Gypsum sales declined 1.9 percent to $416 million, primarily a result of lower sales from U.S. Gypsum.
Worldwide Ceilings sales increased 7.3 percent to $177 million.
