TAYLOR, MI — Masco Corp., the parent company of several leading kitchen and bath product manufacturers, has reported record net sales for 2005.
The publicly traded Masco, headquartered here, reported that net sales from continuing operations for the year ended Dec. 31, 2005 increased 7%, primarily from organic growth, to a record $12.6 billion, compared with $11.9 billion for 2004.
Income from continuing operations for the year was $872 million, the company said.
According to Masco, ’05 results were impacted by the strong new construction market and certain selling price increases, which were more than offset by increases in commodity, energy and freight costs, as well as a less favorable product mix. Results for 2005 also benefited from net gains related to the company’s financial investments, corporate officials noted.
Sales increases by segment for 2005 compared to 2004 were:
- Cabinets and related products sales increased 8%.
- Plumbing products sales increased 4%.
- Installation and other services sales increased 11%.
- Decorative Architectural Products sales increased 4%.
- Other Specialty Products sales increased 4%
Masco also announced that it has completed the divestiture of two companies, Zenith Products in North America and Aran Products in Europe. The companies, with combined annual sales of approximately $200 million, manufacture cabinets, bathroom vanities, medicine cabinets and bath accessories.
Masco retains a large portfolio of companies in the building products sector, including Merillat Industries, KraftMaid and Delta Faucet.