Masco Corporation Reports Q4 EPS of $(0.08) vs. $(0.02)

Masco Corporation MAS today reported that net sales from continuing operations for the year ended December 31, 2010 decreased three percent to $7.6 billion.

• Sales decreased nine percent to $1.7 billion.
• Results for key financial measures, as adjusted for certain items (see Exhibit B) and with a normalized tax rate of 36 percent, compared to the fourth quarter of 2009 were as follows:
  • Gross profit margins were 23.2 percent compared to 26.9 percent.
  • Operating profit margins were 1.6 percent compared to 4.8 percent.
  • (Loss) income was $(.08) per common share compared to $.05 per common share.
• (Loss) income from continuing operations, as reported was $(2.96) per common share compared to $(.49) per common share in the fourth quarter of 2009.