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.