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| USG reports record third quarter net sales of $1.5 billion USG Corporation reported third quarter 2006 net sales of $1.5 billion, a record for any third quarter in USG's history, and net earnings of $153 million. Net sales and net earnings for the same period a year ago were $1.3 billion and $158 million, respectively. Headquartered in Chicago, the company serves the residential and non-residential construction markets, repair and remodel construction markets, and industrial processes. Third quarter 2006 net earnings of $153 million reflect the impact of a pre-tax charge and the reversal of an asbestos reserve, while third quarter 2005 net earnings benefited from the resolution of certain federal tax contingencies. Declines in new residential construction caused by fewer new orders at major home builders and excess inventories of unsold homes have resulted in reduced demand for gypsum wallboard. The lower level of demand for wallboard is likely to continue during the balance of 2006 and into 2007. write your comments about the article :: © 2006 Construction News :: home page |