Masco Reports Record Quarter
Taylor, MI Masco Corp., the parent company of KraftMaid Cabinetry, Merillat Industries, Delta Faucet and other leading building products suppliers, has reported that net sales from continuing operations for the second quarter ended June 30, 2004 rose 16% over the same period last year, to a quarterly record $3.1 billion.
Masco's strong second-quarter performance was the result of a combination of "market share gains, new products and positive economic conditions impacting the new home construction and home improvement markets," according to the Taylor, MI-based company.
Income from continuing operations for the second quarter of 2004 was $294 million, compared with $220 million for the same period in 2003, Masco reported.
The company announced it continues to experience "better-than-expected" sales performance to date in 2004, and, based on current business trends, believes that it will achieve record sales and earnings for the year.