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Published: Wednesday, 8/13/2003

2nd-quarter profit slips at Owens Corning

Owens Corning reported yesterday that its second quarter profit fell 50 percent to $18 million from $36 million for the period last year. Factors included higher costs for energy and raw materials.

Sales at the manufacturer of building products and Fiberglas dropped to $1.2 billion from $1.3 billion in the three months ended June 30, 2002. The results included charges of $38 million for Chapter 11 bankruptcy-related expenses and $13 million for restructuring.

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