U.S. – Door manufacturer Masonite International Corporation reported a net sales drop of 2.8% to USD 476.4 million in the three months ended June 28, 2015, from USD 490.2 million in the comparable period of 2014. 

Masonite’s net income increased USD 7.8 million to USD 13.4 million. Adjusted EBITDA increased 34% versus the comparable 2014 period, to USD 59.1 million. Adjusted EBITDA margin increased 340 basis points to 12.4% in the second quarter of 2015 versus 9.0% in the comparable 2014 period.

“We achieved our highest quarterly adjusted EBITDA in six years and expanded EBITDA margin by 340 basis points in the second quarter despite continued significant foreign exchange headwinds that contributed to softer sales performance,” said Fred Lynch, President and CEO. “With the completion of the three transactions we announced after quarter end, we believe that we are making significant progress on our portfolio optimization strategy and are creating a stronger, more profitable European business platform that will lead to increased shareholder value.”

Masonite has recently announced the acquisition of Performance Doorset Solutions Limited (“PDS”), a custom door manufacturer located in the UK and of National Hickman, a leading supplier of doorkits (similar to fully finished prehung door units) and other millwork, also in the UK.

In early August the Company also announced the sale of Premdor S.A.S., Masonite’s door business in France.