Owens Corning Q4 Loss Widens
(RTTNews) - Owens Corning (OC), a manufacturer of residential and commercial building products, Wednesday reported wider loss for the fourth quarter compared to the same period last year, on lower revenues and a goodwill and asset impairment charge.
Quarterly loss widened to $282 million or $3.65 per share compared with $258 million or $2.97 per share of last year.
Further, the company incurred a goodwill and asset impairment charge of $355 million and $39 million respectively, this quarter.
Revenue decreased to $2.14 billion from $2.54 billion of the previous year.
In pre-market activity, OC shares were trading at $124.01, down 2.06% on the New York Stock Exchange.
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