Owens Corning, building materials maker, lowered its loss in the fourth quarter than the same quarter of previous fiscal but still the results did not meet the expectations. The quarterly results were badly influenced by the lowered sales at its building materials segment.

Owens Corning released its fourth quarter and full year results today. For the fourth quarter the company posted net loss of $21 million, or $0.17 per share, while for the same period in 2008 the company reported the net loss of $34 million or $0.27 per share.

The company posted the adjusted earnings of $1 million, or $0.01 per share, in the fourth quarter of 2009 while it was reported $24 million, or $0.19 per share, in the fourth quarter of 2008. In the fourth quarter the consolidated net sales were posted $1.2 billion, decreasing by 7.7% while it was reported $1.3 billion in the same period last year. Markets analysts were expecting the company to report earnings of $0.24 per share on revenues of $1.16 billion for the quarter.

For the full year Owens Corning posted the net profit of $64 million, while in the previous fiscal the company posted a net loss of $813 million. The company also provided its fiscal 2010 guidance and expects the adjusted earnings before interest and taxes of $350 million or more for FY 2010.