Masco Corp (MAS) 10-K Annual Report February 2013

Masco Corporation (NYSE: MAS) increased profit in the fourth quarter of 2012 with strong sales and operating margin growth in North America, including continued improvement in Installation Services. All five operating segments delivered positive sales growth and improved operating profit for the first time since the housing downturn.

2012 Fourth Quarter Commentary

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Net sales from continuing operations increased 9 percent to $1.9 billion, compared with $1.7 billion for fourth quarter 2011. North American sales increased 12 percent and international sales decreased 1 percent. In local currencies, international sales increased 2 percent compared with fourth quarter 2011.

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Compared to fourth quarter 2011, results for key financial measures, as adjusted for certain items (see Exhibit A) and with a normalized tax rate of 36 percent, were as follows:

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Gross profit margins were 25.0 percent compared to 21.9 percent

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Operating profit margins were 5.0 percent compared to 1.6 percent

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Income (loss) from continuing operations was $0.04 per common share compared to $(0.09) per common share

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Loss from continuing operations, as reported, was $(0.23) per common share compared to $(1.42) per common share in the fourth quarter of 2011

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We ended the fourth quarter with approximately $1.4 billion of cash

2012 Fourth Quarter Operating Segment Results

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Plumbing Products’ net sales increased 10 percent, fueled by strong performance in North America and internationally

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Decorative Architectural Products’ net sales increased 11 percent, driven by growth in core products and new programs

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North American Cabinetry’s sales increased 13 percent and operating margins improved

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Installation and Other Services achieved profitability for the first time since the fourth quarter of 2008

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Other Specialty Products’ net sales increased 6 percent and segment margins expanded, reflecting share gains and profit improvement initiatives

The following information was filed by Masco Corp (MAS) on Monday, February 11, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Masco Corp provided additional information to their SEC Filing as exhibits

Exhibit 4.BI.I: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.B.I.IA: Material Contract

Exhibit 10.B.I.IB: Material Contract

Exhibit 10.B.I.IIA: Material Contract

Exhibit 10.B.I.IIB: Material Contract

Exhibit 10.B.II: Material Contract

Exhibit 10.B.II.I: Material Contract

Exhibit 10.B.III.I: Material Contract

Exhibit 4.B.IV: Instruments Defining The Rights Of Security Holders, Including Indentures

Exhibit 10.B.IV.I: Material Contract

Exhibit 10.B.IV.II: Material Contract

Exhibit 10.F.I: Material Contract

Exhibit 10.G: Material Contract

Exhibit 10.I.II: Material Contract

Exhibit 12: Statement Regarding Calculation Of Ratios

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 31.A: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.B: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: MAS
CIK: 62996
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-062852
Submitted to the SEC: Fri Feb 15 2013 4:49:57 PM EST
Accepted by the SEC: Fri Feb 15 2013
Period: Monday, December 31, 2012
Industry: Millwood Veneer Plywood And Structural Wood Members