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MASCO INDUSTRIES, INC. ANNOUNCES RECORD 4TH-QUARTER SALES AND EARNINGS AND IMPROVED 1992 RESULTS

 TAYLOR, Mich., Feb. 12 /PRNewswire/ -- Sales and earnings in the fourth quarter of 1992 were the highest for any fourth quarter since Masco Industries (NASDAQ-NMS: MASX) became a publicly traded company in 1984. Sales in the fourth quarter of 1992 approximated $431 million, an increase of 9 percent over the comparable period in 1991. Earnings per common share for the quarter were $0.10, compared to a net loss of $0.03 in the comparable period in 1991.
 Net sales of Masco Industries in 1992 increased 13 percent to $1.7 billion from $1.5 billion in 1991. Sales of custom engineered products increased 17 percent due to increased transportation-related products sales. Sales of specialty products increased 7 percent as a result of increased architectural products sales.
 Net income in 1992 after preferred stock dividends was $29.1 million or $0.48 per common share, compared to a net loss in 1991, after preferred stock dividends, of $18.6 million, or $0.31 per common share.
 Masco Industries' improved operating performance in 1992 benefited from internal cost reduction and restructuring initiatives and from the modest improvement in the economy. The company believes that its strong product and technology positions, when combined with an expected improvement in automotive production and continued moderate growth in the economy in general, should contribute to increases in both sales and earnings for the company in 1993 and beyond.
 Masco Industries manufactures custom engineered and other commercial and specialty industrial products.
 MASCO INDUSTRIES, INC.
 (Amounts in thousands except per-share data)
 Three Months Ended 12 Months Ended
 Dec. 31 Dec. 31
 1992 1991 1992 1991
 Net sales $431,190 $394,170 $1,656,840 $1,466,990
 Cost of sales (344,530) (320,070) (1,308,070) (1,203,850)
 Selling, general and
 administrative
 expenses (59,550) (57,550) (233,880) (218,480)
 Operating profit 27,110 16,550 114,890 44,660
 Other expense, net (11,210) (20,430) (44,550) (55,150)
 Income (loss) before
 income taxes 15,900 (3,880) 70,340 (10,490)
 Income taxes (credit) 7,420 (4,120) 31,910 (1,520)
 Net income (loss) $8,480 $240 $38,430 ($8,970)
 Preferred stock
 dividends $2,320 $2,320 $9,300 $9,600
 Earnings (loss)
 attributable
 to common stock $6,160 ($2,080) $29,130 ($18,570)
 Earnings (loss) per
 common share $.10 ($.03) $.48 ($.31)
 Average common shares
 and equivalents
 outstanding 60,810 59,630 60,850 59,690
 -0- 2/12/93
 /CONTACT: Kenneth J. Zak, manager - Investor Relations, Masco Industries, Inc., 313-274-7400/
 (MASX)


CO: Masco Industries, Inc. ST: Michigan IN: AUT SU: ERN

DH-ML -- DE001 -- 6059 02/12/93 09:28 EST
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Publication:PR Newswire
Date:Feb 12, 1993
Words:444
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