Taylor, MI — Masco Corp., the Taylor MI-based parent company of some of the kitchen and bath industry’s leading manufacturers, saw net sales for the second quarter of 2008 decline 15% compared to the same three-month period in 2007, the company reported.

Citing results that were adversely affected by continued softness in both new housing construction and consumer spending for home improvement products, the publicly traded Masco said that second-quarter sales totaled $2.6 billion, compared with $3.1 billion for the second quarter of 2007.

North American sales declined 19%, while international sales rose 6%, the company said, adding that income from continuing operations was $72 million.

In the past two years, Masco reported it has “aggressively reduced” its cost structure, including closing 11 manufacturing facilities, reducing head count by 17,000 employees, or about 30% of the company’s North American workforce, and reducing installation branches by more than 25%.

“Business conditions remain difficult in the company’s markets,” Masco said. Corporate officials noted, however, that the company is “confident that the long-term fundamentals for the new home construction and home improvement products markets are positive.”

Masco’s holdings include Delta Faucet Company, Merillat, KraftMaid, Quality Cabinets, Hansgrohe and Alsons Corp., among other major companies.

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