Manville Corp.: Manville Corp. lost $12.4 million...
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Manville Corp.: Manville Corp. lost $12.4 million in the third quarter after recording $40 million in restructuring and other unusual charges, the building products company said Sunday.
The loss came to 14 cents per share on sales of $532.7 million. In the same period last year, the company earned $24.53 million, or 17 cents per share, on sales of $548.2 million.
It was the second quarterly loss posted by Manville since it emerged from Chapter 11 bankruptcy in November, 1988, said Manville spokeswoman Tricia Bergeron. The previous quarterly loss came in its first post-bankruptcy quarter.
Tom Stephens, president and chief executive of the Denver-based firm, said he doesn’t see any evidence of recovery in the short term for Manville’s building and construction businesses.
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