Second Quarter Sees Owens Corning "In The Pink"

Owens Corning posted its 18th consecutive quarter of earnings growth over the prior year period except for a special charge taken to quantify the company's liability for asbestos claims to be received after 1999. The company posted record second quarter sales also. Earnings for the second quarter of 1996 improved 10%, while sales were up 9%. For the six months, net income increased 14% on a sales increase of 5% over the first half of 1995.