Masonite International Corp. announced that net sales increased $37.6 million, or 8 percent, in the second quarter of 2016. Net income rose $20 million to $33.4 million in the quarter. The company’s earnings per share were $1.02 compared to $0.42 in the second quarter of 2015.

“We are pleased with the solid growth we experienced in the second quarter, particularly in North America,”  said Fred Lynch, President and CEO. “Our business in the U.K. also continued to deliver solid results and, despite the near-term uncertainly presented by the recent Brexit vote, we remain confident in the long-term prospects for the U.K. housing market, as well as that of both the residential and architectural markets in North America. We will continue to focus on strategic initiatives and purposeful investments to grow the business over the long term.”

 

North American residential net sales were $348.2 million, a 14 percent increase over the second quarter of 2015, driven primarily by $42.5 million of increased volume and a $6.2 million improvement in average unit price. Europe net sales were $82.2 million, a 7 percent increase over the second quarter of 2015 driven primarily by a $6.1 million improvement in average unit price and $1.1 million of increased volume. Architectural net sales were $77.6 million, a 2 percent increase over the second quarter of 2015 driven primarily by a $1.7 million improvement in average unit price..

Total company gross profit increased 17 percent to $111.1 million in the second quarter of 2016, from $95.0 million in the second quarter of 2015.

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