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MASCO CORPORATION ACHIEVES RECORD ANNUAL SALES AND IMPROVED EARNINGS IN 1992

 TAYLOR, Mich., Feb. 10 /PRNewswire/ -- Net sales for Masco Corporation (NYSE: MAS) for 1992 totaled $3,525 million, a 12-percent increase from 1991. Net income for the year increased more than 300 percent to $183.1 million from $44.9 million in 1991, with earnings per share increasing to $1.21 from $.30.
 In the fourth quarter of 1992, net sales increased 13 percent to $908 million, with net income of $43.0 million and earnings per share of $.29, compared with a loss of $.19 per share in 1991.
 For all of 1992, building and home improvement products posted sales and operating profit of $1,991 million and $368 million, respectively, both all-time records.
 Sales of home furnishings products in 1992 were $1,534 million, also a record performance. Operating profit was $60 million, a 58-percent improvement over 1991 results. Although operating profits improved, results continue to be negatively impacted by the effects of the most severe recession within the furniture industry in four decades, as well as reflecting costs of profit improvement and long-term growth initiatives.
 The company is encouraged by the recent favorable growth trends in its businesses. The company believes that the several billion dollars that it has invested in recent years in acquisitions, capital expenditures, new products, profit improvement programs and market share improvement initiatives are contributing to higher sales and earnings for the company. If the present moderate economic recovery continues, it is expected that Masco will show further significant improvement in both sales and earnings in 1993.
 Masco Corporation manufactures building, home improvement and home furnishings products for the home and family.
 MASCO CORPORATION
 Three Months Ended 12 Months Ended
 Dec. 31 Dec. 31
 1992 1991 1992 1991
 Net sales $908,000 $806,000 $3,525,000 $3,141,000
 Costs and expenses:
 Cost of sales 616,640 579,260 2,381,040 2,206,460
 Selling, general and
 administrative
 expenses 204,620 178,810 785,420 686,210
 Other expense, net 15,440 69,930 53,740 150,730
 Total costs and
 expenses 836,700 828,000 3,220,200 3,043,400
 Income (loss)
 before tax 71,300 (22,000) 304,800 97,600
 Income taxes 28,300 5,700 121,700 52,700
 Net income (loss) $43,000 ($27,700) $183,100 $44,900
 Earnings (loss)
 per share $.29 ($.19) $1.21 $.30
 Average shares
 outstanding --- --- 151,700 149,900
 Amounts in thousands except per share data.
 -0- 2/10/93
 /CONTACT: John C. Nicholls Jr., treasurer, Masco Corporation, 313-274-7400/
 (MAS)


CO: Masco Corporation ST: Michigan IN: HOU SU: ERN

JG-KE -- DE013 -- 5116 02/10/93 11:36 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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