Exhibit 99.1
     
 
  Media Inquiries: 312/436-4356
 
  Investors Relations: 312/436-4125
USG CORPORATION REPORTS QUARTERLY, FULL YEAR RESULTS AND
CONTINUED PROGRESS IN STRENGTHENING ITS OPERATIONS
    Weak market conditions affected all business segments
    Cost reductions favorably impacted results
 
    Cash and liquidity positions strengthened
CHICAGO, Jan. 27, 2010 —
USG Corporation (NYSE:USG), a leading building products company, today reported net sales of $720 million and a net loss of $598 million, or $6.02 per diluted share for the fourth quarter of 2009. The net loss included a non-cash, $548 million deferred tax asset valuation allowance, $31 million of restructuring, impairment and other charges, and $97 million of income from the settlement of a lawsuit.
“We anticipated very difficult market conditions in 2009 and took action accordingly,” said William C. Foote, USG Chairman and CEO. “Structural cost reduction initiatives and aggressive management of product margins helped to mitigate the impact of exceptionally weak demand. A continued sharp focus on overall spending and working capital, plus the successful settlement of the Lafarge lawsuit, added to the corporation’s strong cash and liquidity positions.”
Foote continued, “2010 will be another challenging year. We expect our businesses to benefit further from the many actions that we continue to take to optimize our operations. We are confident that our emphasis on the elements of the business that are within our control, such as customer satisfaction, cost control, sizing the business to market conditions and innovation, will enable us to manage successfully through this prolonged downturn. Looking forward, we believe we are well-positioned to capitalize on an economic rebound and a recovery in our key market segments,” concluded Foote.
-more-

 

 


The following information was filed by Usg Corp (USG) on Wednesday, January 27, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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