Masco Reports Record Quarter

Taylor, MI Masco Corporation, the publicly traded parent company of several leading kitchen and bath product manufacturers, has reported that net sales for the first quarter ended March 31, 2004 rose 19%, to a record $2.8 billion.

The Taylor, MI-based company also reported that first-quarter income totaled $241 million, up significantly from the $158 million in income posted in the first quarter of 2003.

Masco officials noted that the company's strong first quarter performance resulted from a combination of "market share gains, new products and positive economic conditions impacting new home construction and home improvement markets."
The company also said it continues to experience better-than-expected sales results to date in 2004, and believes that it will achieve record sales and earnings for the year.

Masco's units include KraftMaid Cabinetry, Merillat Industries and Delta Faucet Co., among others, in the building products industry.