Masco Reports Quarterly Gains

Masco Reports Quarterly Gains

Taylor, MI Market share gains, new product introductions and positive economic conditions impacting the new home construction and home improvement markets resulted in sales and income growth for Masco Corp. in the third quarter of 2004, the company reported.

The Taylor, MI-based Masco, the parent company of numerous kitchen and bath product manufacturers, reported that net sales from continuing operations for the third quarter rose 12%, to a quarterly record of $3.2 billion, compared with $2.8 billion for the same period in 2003.

Income from continuing operations for the three-month period was $289 million, compared with $258 million for the same period in 2003, Masco said.

"[We continue] to experience better-than-expected sales performance in 2004, and, based on current business trends, believe that [we] will achieve record sales and earnings for 2004," the publicly traded Masco reported.

Among the company's units are Merillat Industries, KraftMaid Cabinetry and Delta Faucet Co.