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[November 2003]
Net Sales Increase for US Gypsum
USG Corporation (Chicago, IL, USA) reported third quarter 2003 net sales of US$963 million and net earnings of US$39 million. Net sales increased by US$60 million while net earnings declined by US$5 million compared with the third quarter of 2002.
"We achieved solid revenue growth during the quarter amid market conditions that were mixed," commented the Chairman, CEO and President William Foote. "Sales growth from record product shipments in USG's two largest businesses, North American gypsum and building products distribution, more than offset weakness in our worldwide ceilings business caused by declining commercial construction."
Net sales for the nine months of 2003 were US$2.739 billion, versus net sales of US$2.617 billion for the same period in 2002. Net earnings for the first nine months were US$76 million compared to US$22 million for that period last year.
ENDS