Soft market dampens Masonite sales
Masonite International reported net income of $24.2 million, or 96 cents a share, and net sales of $562.9 million for the second quarter of 2019. Sales were down 1 percent and net income was down 30 percent compared to the same quarter in 2018. Markets remain "softer than anticipated," Howard Heckes, president and CEO, said in a news release. Masonite (NYSE: DOOR), a Tampa-based door manufacturer, reduced its sales expectations for the rest of the year and now projects full-year 2019 net sales growth in the range of zero to two percent.