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| Owens Corning reports 4Q and FY 2008 results U.S. building materials maker Owens Corning reported that consolidated net sales increased 17 percent to $5.8 billion in 2008, compared with $5.0 billion in 2007. Consolidated net sales for the fourth quarter of 2008 were $1.3 billion, down 1 percent compared with the same quarter in 2007. Owens Corning's 2008 adjusted earnings from continuing operations were $124 million, or $0.95 per adjusted diluted share, compared with $162 million, or $1.23 per adjusted diluted share in 2007. Adjusted earnings from continuing operations in the fourth quarter of 2008 were $16 million, or $0.13 per adjusted diluted share, compared with $40 million, or $0.31 per adjusted diluted share in the fourth quarter of 2007. In the fourth quarter of 2008, Owens Corning reported a net loss of $45 million, or $0.36 per share. Earnings before interest and taxes (EBIT) from continuing operations for the year ending Dec. 31, 2008, were $196 million, compared with $145 million during the same period in 2007. Fourth-quarter 2008 EBIT from continuing operations was $15 million, compared with a loss of $46 million during 2007. Adjusted EBIT from continuing operations for the fourth quarter of 2008 was $48 million, compared with $88 million during the same period in 2007. The company's continued focus on safety resulted in a 36-percent reduction in injuries in 2008 versus 2007. write your comments about the article :: © 2009 Construction News :: home page |