Masonite Sees Slight Sales Increase in Q3
November 7, 2013
Masonite International Corp.'s overall sales increased $8.1 million, or 1.9 percent, to $433.1 million in the third quarter of 2013 over the third quarter of 2012. Net sales in the North American segment increased 4.4 percent to $333.1 million from $319 million in Q3 2012. The increase was primarily driven by improvements in average unit prices, according to the company's financial report.
"While sales growth continues to be impacted by our decision to de-emphasize several low-margin businesses and by reduced retail sales, adjusted EBITDA flow-through exceeded 40 percent, excluding one-time costs related to our registration and equity listing," says Fred Lynch, president and CEO. "Pricing actions taken during the first quarter of the year, along with synergies from recent strategic tuck-in acquisitions and continued cost control, all contributed to the high adjusted EBITDA flow-through rate achieved for the quarter."
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