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MASCO CORPORATION ANNOUNCES RECORD QUARTERLY SALES, IMPROVED EARNINGS AND DIVIDEND INCREASE

 MASCO CORPORATION ANNOUNCES RECORD QUARTERLY SALES,
 IMPROVED EARNINGS AND DIVIDEND INCREASE
 TAYLOR, Mich., Oct. 29 /PRNewswire/ -- Net sales of $899 million in the third quarter were the highest quarterly sales in Masco Corporation's (NYSE: MAS) history, representing a 12-percent increase from the third quarter of 1991. Increased shipments of kitchen, bath and home furnishings products contributed to the record sales.
 Net income for the quarter increased 64 percent to $50.8 million from $30.9 million in the third quarter last year, with earnings per share increasing to $0.33 from $0.21.
 The company's operating profit margin improved in the third quarter in comparison with last year. Building products achieved record operating profits while home furnishings margins, although improved, continue to be adversely affected by costs associated with new product and marketing initiatives and by more moderate sales growth resulting from continued lower levels of discretionary consumer spending.
 The board of directors of Masco Corporation, considering the company's financial position and favorable long-term outlook, has increased the quarterly dividend to $0.16 from $0.15 per common share. This marks the 34th consecutive year in which dividends have been increased. During the third quarter, the company also issued $200 million of 6 5/8 percent notes due in September 1999, with the proceeds applied as a reduction of outstanding bank indebtedness.
 The company is encouraged by the improved results for the first nine months of 1992. Longer term, the company believes that its new products and market share and profit improvement initiatives, when combined with the anticipated growth in the economy, will contribute to significant growth for Masco Corporation in 1993 and beyond.
 Masco Corporation manufactures building, home improvement and home furnishings products for the home and family.
 MASCO CORPORATION
 (Amounts in thousands except per-share data)
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1992 1991 1992 1991
 Net sales $899,000 $804,000 $2,617,000 $2,335,000
 Costs and expenses:
 Cost of sales 605,500 557,200 1,764,400 1,627,200
 Selling, general and
 administrative
 expenses 195,700 170,000 580,800 507,400
 Other expenses, net 13,300 25,700 38,300 80,800
 814,500 752,900 2,383,500 2,215,400
 Income before tax 84,500 51,100 233,500 119,600
 Income taxes 33,700 20,200 93,400 47,000
 Net income $50,800 $30,900 $140,100 $72,600
 Earnings per share $.33 $.21 $.92 $.49
 Average shares
 outstanding --- --- 151,700 149,500
 12 Months Ended
 Sept. 30
 1992 1991
 Net sales $3,423,000 $3,102,000
 Costs and expenses:
 Cost of sales 2,343,660 2,173,510
 Selling, general and
 administrative
 expenses 759,610 691,890
 Other expenses, net 108,230 135,500
 3,211,500 3,000,900
 Income before tax 211,500 101,100
 Income taxes 99,100 63,500
 Net income $112,400 $37,600
 Earnings per share $.73 $.27
 Average shares
 outstanding --- ---
 -0- 10/29/92
 /CONTACT: John C. Nicholls Jr., treasurer, Masco Corporation, 313-274-7400/
 (MAS) CO: Masco Corporation ST: Michigan IN: HOU SU: ERN DIV


DH-ML -- DE008 -- 6415 10/29/92 09:04 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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