U.S. – Masonite International Corporation, the undisputed international leader in interior doors, announced steady sales growth of 8.2% and a net profit for the second quarter of 2014, putting the company back in the black after it suffered a loss in the same quarter last year.
Net sales increased by USD 37.1 million to a total of USD 490.2 million for the three months ended June 29. Masonite largely attributed the growth to a 5.5% increase in average unit price and a 3.4% increase in unit volumes. Net income came in at USD 5.6 million, up from 2013’s loss of USD 1.2 million.
Fred Lynch, president and CEO, remarked upon the improvement in the adjusted EBITDA, which increased 31.6% to USD 44.1 million, marking the company’s highest figure for the metric in five years.
“Previously announced price increases, a slowly improving U.S. housing market and tight operational cost control allowed us to deliver our strongest quarterly results in five years,” said Lynch.
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