Masco reports international sales up, but domestic sales down

Taylor, Mich.-based Masco reported a net loss for the fourth quarter ended Dec. 31, 2007, at $151 million compared with a net loss of $187 million in the same quarter of 2006.

Fourth-quarter 2007 net sales from continuing operations declined 8 percent to $2.7 billion compared with $2.9 billion for the fourth quarter of 2006.

For the year, the company reported net income of $386 million, down 20 percent from $488 billion in 2006.

The company reported net sales of $11.8 billion, down 13 percent from $12.7 billion as reported in 2006. North American sales declined 12 percent, and international sales increased 15 percent.

The company said results for 2007 were adversely affected by lower sales volume of installation and other services, assembled cabinets and windows and doors in the new home construction market and a decline in consumer spending for home improvement products.

Masco is a major manufacturer of kitchen cabinets, plumbing products and architectural and design products, with brands including Arrow Fastener, Behr paint and Delta Faucet.

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