US: USG Corporation has reported a net loss of US$30.5m for January and February 2012, compared to US$82.3m for the same two-month period in 2011. The preliminary, unaudited results were announced in connection with USG's ongoing tender offer and consent solicitation relating to its 9.75% notes due 2014.
For the two-month period, USG reported net sales of US$517m and an operating profit of US$5.7m. For the comparable two-month period in 2011, USG reported net sales of US$447m and an operating loss of US$46.8m. The company has attributed the improved year-over-year results primarily to increases in its US average wallboard price and wallboard gross margin.
USG currently expects that operating results for March 2012 will reflect the continuing impact of the wallboard prices and gross margin increases. Complete results for the first quarter are expected to be announced on 17 April 2012.
