USG Corp. reported net sales of $721 million for its first fiscal quarter, compared with $716 million during the same quarter of 2010, a 0.7% increase. Net loss for the building products company for the quarter, which ended March 31, was $105 million, compared with $110 million in the first quarter of 2010. Operating losses were reported at $58 million, compared with $82 million a year ago.
"We are seeing signs of stabilization in U.S. commercial construction and positive trends in the repair and remodel segment, but the new residential construction market remains weak," said James Metcalf, USG’s president and CEO, in a prepared statement. "The long-term fundamentals that drive our business remain very solid. As demand improves we will benefit from the operating leverage inherent in both our manufacturing and distribution businesses."
USG Corp. is a manufacturer and distributor of wall, ceiling, flooring and ceiling products and systems through its United States Gypsum Co., USG Interiors, Inc., L&W Supply Corp. and other subsidiaries. Headquartered in Chicago, USG's worldwide operations serve the residential and non-residential construction markets, repair and remodel construction markets, and industrial processes.