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USG Posts Profit In Q1, Revenue Rises - Quick Facts

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4/24/2013 9:08 AM ET

Building products firm USG Corp. (USG: Quote) Wednesday reported first-quarter net income of $2 million or $0.02 per share compared to a net loss of $27 million or $0.26 per share last year.

Adjusted net income was $1 million, while in the prior year the firm lost $27 million.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.10 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 4 percent to $814 million from $783 million. Analysts expected revenues of $864.23 million.

James Metcalf, Chairman, President and CEO, said, ''We are pleased to report our first quarter of net income in more than five years. All segments showed improved results in the period, and our commitment to innovation and lowering our break-even are evident in our results."

The stock, which closed at $25.55 on Tuesday, is falling 2.9 percent in pre-market activity.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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