Masonite Shrinks Losses in Second Quarter
August 13, 2013
Masonite reported a net loss of $1.2 million for the second quarter ending June 30, 2013, compared to a $3.9 million loss a year earlier, according to an Aug. 12 Building Online report, with net sales up $20.3 million, or 4.7 percent, over second quarter 2012. Net sales in the North American segment increased 9.4 percent to $346.7 million in second quarter 2013, from $317.0 million in second quarter 2012, according to the report.
"Second quarter results reflect a strengthening U.S. housing market and ongoing benefits from our strategic tuck-in acquisition program," says Fred Lynch, president and CEO of Masonite, in the report. "Pricing actions taken in the first quarter led to improvements in the average unit price achieved in North America."
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