USA (Notifix).- Masco Corporation reported a drop of 6% on net sales from continuing operations for the quarter ended September 30, 2010 to US$ 2.0 billion. The drop was
in North American sales and as in international sales, where each decreased six percent.In local currencies, international sales increased four percent compared with the third quarter of 2009. “The slowing economic activity related to our markets, particularly consumer spending and new home construction in North America that we experienced late in the second quarter, continued into the third quarter of 2010. Four of our five product segments had sales declines compared to the third quarter of 2009. Our plumbing products segment was up modestly in sales, principally due to continued strong international results, as Hansgrohe continues to expand globally. Given the decline in sales, we were pleased with our performance from a profitability standpoint, as cost reductions partially offset the impact of volume declines and a less favorable relationship between selling prices and commodity costs compared to third quarter 2009,” said Masco’s CEO Tim Wadhams.
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