Masco Corporation Reports Third Quarter 2011 Results
finance.yahoo.com 
"Our sales increased three percent compared to third quarter 2010, reflecting strong sales of plumbing-related products driven by share gains of our Hansgrohe and Delta brands, share gains in our Installation segment and foreign currency translation. The third quarter of 2011 was negatively impacted by continued depressed conditions in new home construction and by the deferral of "big ticket" repair and remodel activity," said Masco's President and CEO Tim Wadhams. "We have continued to take aggressive steps to address these challenging market dynamics and further reduce our cost structure. In October, we closed multiple facilities and reduced headcount in those businesses most affected by these economic conditions. In addition, we identified four businesses within the Installation and Other Services segment for divestiture. These businesses were focused on noncore diversified products which include framing, commercial drywall installation, and millwork." |
