By Denny Jacob
Masonite International posted lower sales as volume declined in the latest quarter.
The company, which manufactures interior and exterior doors for residential and architectural use, logged net income of $41.5 million, or $1.86 a share, for the third quarter ended Oct. 1, down from $57 million, or $2.54 a share, a year earlier. Adjusted earnings were $2.04 a share, slightly missing analysts’ estimates of $2.06 a share.
Sales declined 4% to $702.2 million from $727.6 million. Analysts polled by FactSet expected $711.2 million.
Masonite said the decline in sales resulted from a 13% decline in volume partially offset by an 8% increase from its Endura acquisition and a 1% increase in average unit price.
Write to Denny Jacob at denny.jacob@wsj.com
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