Sunday, May 29, 2016
Current Weather
Loading Current Weather....
Published: Thursday, 2/21/2013

Owens Corning reports 4Q loss of $56M


Owens Corning reported a loss of $19 million, or $0.16 per diluted share, for 2012, according to the company's 2012 financial statement.

The company also reported a loss of $56 million, or $0.47 per diluted share, in the fourth quarter of last year. In the fourth quarter of 2011, the company reported earnings of $50 million, or $0.41 per diluted share.

Owens Corning, which released its year-end statement today, recorded a $100 million decrease in sales from 2011 to 2012.

According to a statement from the company, "the net loss in 2012 reflects a one-time debt extinguishment charge of $74 million in conjunction with a tender offer to refinance $350 million of outstanding senior notes that occurred in the fourth quarter of 2012, as well as approximately $136 million of charges associated with global restructuring actions. The fourth-quarter loss was primarily impacted by both the debt extinguishment charge and $27 million of charges related to global restructuring actions."

The company is scheduled to hold a conference call with investors at 11 a.m. today.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories