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Owens Corning posts $3.24 billion March operating loss
By Caroline Salls
Pittsburgh, May 18 - Owens Corning reported a $3.24 billion operating loss for March on sales of $355.23 million, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
In February, the company reported $11.56 million in operating income on sales of $300.68 million.
In March, the company saw $3.45 billion in pretax charges and asbestos litigation claims.
The net loss for March was $3.37 billion, compared to $7.83 million in February.
Cash at the end of March was $526.73 million, down from $676.57 million on Feb. 28.
Owens Corning, a Toledo, Ohio, building materials company, filed for bankruptcy on Oct. 5, 2000. Its Chapter 11 case number is 00-3837.
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