Printer Friendly

MASCO CORPORATION CHAIRMAN ADDRESSES SECURITY ANALYSTS IN NEW YORK

 TAYLOR, Mich., Jan. 12 /PRNewswire/ -- Richard A. Manoogian, chairman and chief executive officer of Masco Corporation (NYSE: MAS), speaking today before a group of security analysts in New York, made the following comments:
 "Masco Corporation sales for 1992 approximated $3.5 billion, an increase of 12 percent from the previous year. Earnings per share for 1992 should approximate $1.20, a substantial increase from the previous year's $.30 per share.
 "The company is continuing to see favorable growth trends in its building and home improvement products sales and has recently experienced a significant improvement in incoming orders for home furnishings. Assuming the economy maintains its present moderate growth rate, the company believes that it will achieve a 1993 sales increase comparable to 1992 and enjoy a significant increase in 1993 earnings.
 "The company also believes that it is beginning to derive meaningful benefits from the over $3 billion it has invested in recent years in acquisitions, capital expenditures and other growth initiatives and, assuming continuing improvement in the economy, expects that its earnings could increase substantially over the next several years."
 Masco Corporation manufactures building, home improvement and home furnishings products for the home and family.
 -0- 1/12/93
 /CONTACT: John C. Nicholls Jr., treasurer, Masco Corporation, 313-274-7400/
 (MAS)


CO: Masco Corporation ST: Michigan, New York IN: HOU SU: ERP

ML -- DE018 -- 4100 01/12/93 14:05 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 12, 1993
Words:230
Previous Article:BIG THREE TEAM UP IN TEARDOWNS
Next Article:PI REPORTS UNITED STATES DRILLING DROPS TO LOWEST LEVEL SINCE 1971
Topics:


Related Articles
MASCO CORPORATION TO EVALUATE DIVESTITURE OF ITS HOME FURNISHINGS GROUP
Masco to sell home group.
Masco Corporation Forecasts Record 1997 Sales and Earnings for Its Home Improvement and Building Products Businesses
Masco Corporation Announces Redemption of 5 1/4 Percent Convertible Subordinated Debentures Due 2010
Masco Corporation to Webcast Investor Presentations.
Masco Corporation Announces Live Webcast of Comments at Investor Meeting.
Masco Corporation Announces Live Webcast of Presentation at Investor Meeting.
Masco Corporation Announces Live Webcast of Presentation at Investor Meeting.
Masco Corporation Announces Live Webcast of Presentation at Investor Conference.
Masco Corporation Commences Registered Exchange Offer For Its Zero Coupon Convertible Senior Notes Due 2031.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters