Masonite Q4 sales, earnings rise

Masonite International Corporation, the exterior and interior door manufacturer, reported fourth quarter 2017 net sales increased 6% to $509 million from $481 million in the comparable period of 2016.

North American Residential net sales were $359 million, a 7% increase over the fourth quarter of 2016, driven by a 4% increase in volume.

The company also reported a net income of $72 million for the fourth quarter compared to a net income of $15.4 million in the fourth quarter 2016. The Tampa, Fla.-based manufacturer said its fourth quarter net income included $51 million in tax benefits.

For the full year, Masonite reported net sales increased 3% to $2.03 billion from $1.97 billion in 2016. Masonite also reported a net income of $157 million, up 51% from a net income of $104 million in the full year 2016.

"We are encouraged by the steps taken in 2017 that improved our momentum in the second half of the year which we believe will continue to benefit our 2018 performance," said Fred Lynch, Masonite president and CEO.