Owens Corning , the US-based building materials company that filed for bankruptcy last year, reported a sharp decline in fourth-quarter operating earnings, reflecting lower demand and significant cost…
Owens Corning , the US-based building materials company that filed for bankruptcy last year, reported a sharp decline in fourth-quarter operating earnings, reflecting lower demand and significant cost increases for raw materials and energy. The company said income from operations before unusual charges was US$ 60 million, down from US$ 129 million in the corresponding period a year earlier. The company reported a net loss of US$ 101 million for the quarter, including about US$ 200 million in restructuring and other charges. Owens Corning has a net profit of US$ 60 million a year earlier. Net sales in the quarter fell to US$ 1.107 billion from US$ 1.275 billion a year earlier.