Sharp Sales Decline Reported by Masco

Taylor, MI — Masco Corp., the Taylor MI-based parent company of some of the kitchen and bath industry’s leading manufacturers, saw net sales for the second quarter of 2008 decline 15% compared to the same three-month period in 2007, the company reported.

Citing results that were adversely affected by continued softness in both new housing construction and consumer spending for home improvement products, the publicly traded Masco said that second-quarter sales totaled $2.6 billion, compared with $3.1 billion for the second quarter of 2007.

North American sales declined 19%, while international sales rose 6%, the company said, adding that income from continuing operations was $72 million.

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