Owens Corning Reports Wider 1st-quarter Loss

TOLEDO, Ohio (AP) — Building products maker Owens Corning Inc. posted a wider first-quarter loss Thursday as turmoil in the U.S. housing market and global economy further hurt results.

The Toledo, Ohio-based company, which makes insulation, roofing materials and other building products, reported a loss of $28 million, or 23 cents per share, for the three months ended March 31. That compares with a loss of $13 million, or 10 cents per share, during the same period last year.

Excluding one-time charges for restructuring, asset impairments and other items, Owens Corning earned $5 million, or 4 cents per share, compared with $15 million, or 11 cents per share, during the same quarter in 2008. ...