· 2009 revenue fall 30% · 100m cash from lawsuit won,300m senior notes. Total 700m · Cash flow: 30m (positive) · 2010 housing start forecast: 600k to 900k · 2009: reduce OH spending for 75m · Q4 loss is 11m, with the benefit of the 97m income from settlement of lawsuit · 31m charge on goodwill and asset depreciation · 2009 net loss is 598m · deferred tax valuation allowance: 548m · 170m interest expense for 2010 · Industry is running 50% capacity
USG could break out again, but if that happens, better to sell 50% position. long term, it takes years to really recover. |