Fortune Brands Home & Security Display Growth in Window and Door SegmentOctober 25th, 2012 by DWM Magazine
Net sales for advanced material windows and doors were up 7 percent in the 2012 third quarter, compared to the previous year’s quarter, according to Fortune Brands Home & Security Inc. The segment’s operating income displayed positive growth as well with $9.2 million, up from a loss of $0.3 million. Primarily on door sales growth in the wholesale channel, operating income before charges/gains rose to $6.2 million, an increase from $1.9 million from 2011.
For the company in its entirety, net sales were up $909 million, an increase of 7 percent from third quarter of 2011. Fortune Brands Home & Security also reports earnings per share were $0.24 compared to $0.01 in the prior year quarter. However, net charges dropped, and were $0.14 lower than last year’s third quarter.
“We had another very good quarter. We had broad strength in our businesses as expected, with sales growth in each of our segments,” says Chris Klein, chief executive officer, Fortune Brands Home & Security, Inc. “We achieved this success as the market for our products continued to improve, with double-digit growth in new housing construction and moderate improvement in spending for home repairs and remodeling.”