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Published: Thursday, 8/5/2004

OC, The Andersons report improved quarterly results

Owens Corning said yesterday that profit in the three months ended June 30 increased 83 percent to $33 million on record quarterly sales.

Profit rose from $18 million in the prior-year period. The Toledo company, which plans to cancel its stock as part of Chapter 11 bankruptcy reorganization, doesn't release per-share earnings. The manufacturer of building materials and Fiberglas said second-quarter sales climbed 16 percent to $1.4 billion from $1.2 billion a year ago. Expenses included $38 million in payments resulting from the firm's Chapter 11 case.

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The Andersons, of Maumee, reported a record second-quarter profit yesterday of $10 million, or $1.35 a share, compared with $7.8 million, or $1.07 a share, at the same time in 2003.

The agribusiness firm said sales in the period climbed 21 percent to $376 million from $312 million at the same time last year.



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