USG Announces Preliminary Unaudited Results
The manufacturer currently expects that operating results for the month of March 2012 will reflect the continuing impact of the above-mentioned wallboard price and gross margin increases. Complete results for the first quarter are expected to be announced on April 17, and USG does not intend to update the information in this release prior to that date.
The company also expects loans to and investments in joint ventures to aggregate approximately $60 million in 2012, up from the previously announced estimate of $18 million, as a result of contemplated further steps in the implementation of its international growth strategy. USG expects to fund the additional investments through future surplus asset sales and other divestitures.
The preliminary, unaudited results and the expected March results presented herein are based on currently available information. These results have not been prepared in accordance with, and are subject to, USG’s quarterly closing and review procedures and the regular quarterly review process of its independent auditors. As a result, the information presented herein is not necessarily indicative of actual results for the first quarter and is subject to change.