News & Events
Press Releases
01.26.12Masonite Announces Special Shareholder Meeting
Tampa, FL, Janruary 26, 2012 – Masonite International Corporation today announced a Special Shareholder Meeting to be held on Thursday, March 1, 2012, at 2:00 p.m. Eastern Daylight time at the Company's office at One Tampa City Centre, 201 N Franklin Street, Suite 300, Tampa, Florida, 33602.
12.20.11Masonite Announces Potential Amendments to its Existing Shareholders Agreement and Articles
Tampa, FL, December 20, 2011 – Masonite International Corporation today announced that it does not intend to pursue a Form 10 Registration Statement at this time and is seeking input from shareholders regarding possible amendments to its Shareholders Agreement and Articles.
12.05.11Masonite Honored with 2012 Brand Leader Award
Tampa, FL, December 5, 2011 – Global door manufacturer Masonite® took honors in both interior and entry door categories in BUILDER magazine’s 2012 Brand Use Study. Conducted in collaboration with Readex Research and representing more than 84,000 builders and developers, the study queried respondents about brand familiarity, brand preference and use, and brand quality across 80 building product categories.
11.08.11Masonite International Corporation Reports Third Quarter and Year To Date Results
Tampa, FL, November 8, 2011 – Masonite International Corporation today announced results for the third quarter and nine months ended September 30, 2011. Net sales increased approximately 12.3% to $376.0 million in the third quarter of 2011, from $334.9 million in the third quarter of 2010. Excluding the favorable impact of foreign exchange, net sales were up 9.2%. Operating EBITDA increased to $19.3 million in the third quarter of 2011 from $12.0 million in the third quarter of 2010. Adjusted EBITDA1 for the third quarter, which excludes share based compensation expense, increased to $20.7 million from $13.9 million in the third quarter of 2010.
11.02.11Masonite Announces Acquisition of Birchwood Best
Tampa, FL, November 2, 2011 – Masonite Corporation (the "Company") today announced that it has completed the acquisition of Birchwood Best ("Birchwood"), headquartered in Birchwood, WI on November 1, 2011. Birchwood is one of North America’s largest producers of commercial/architectural wood flush door skins; as well as a significant producer of hardwood plywood. Birchwood's operations were founded in 1904 in Birchwood, WI.
10.27.11Masonite to Webcast Discussion of Third Quarter 2011 Earnings Results on November 9
Tampa, FL, October 27, 2011 – Masonite International Corporation (the "Company") will webcast a discussion of its third quarter earnings results on Wednesday, November 9, 2011 beginning at 10:00 a.m. EST. President and Chief Executive Officer Fred Lynch, and Executive Vice President Chief Financial Officer Mark Erceg will discuss the quarter's results via the live webcast.
08.09.11Masonite Completes Acquisition of Marshfield DoorSystems, Inc.
Tampa, FL, August 9, 2011 – Masonite International Corporation (the "Company") today announced the closing of the acquisition of Marshfield DoorSystems, Inc. (“Marshfield”), headquartered in Marshfield, WI. Marshfield is a leading provider of doors and door components for commercial and architectural applications. Marshfield’s operations were founded in 1890 in Marshfield, WI, and have been manufacturing and selling high-quality commercial door products since 1908. Marshfield employs approximately 600 people, with a primary facility in Marshfield, WI, and two smaller locations in Greensboro, NC and Largo, FL. Marshfield’s 2010 revenue exceeded $100 million dollars. No other financial details of the acquisition have been disclosed.
07.21.11Masonite Planning a next-generation automated facility at Denmark, SC plant
Tampa, FL, July 21, 2011 – Masonite International Corporation (the "Company") today announced that it is planning to invest $14 million in a next-generation automated interior door production line and infrastructure at its Denmark, South Carolina plant in Bamberg County. The Denmark facility manufactures residential interior doors for its Southeast customers, including the Florida market.
06.29.11Masonite Announces Acquisition of Marshfield DoorSystems, Inc.
Tampa, FL, June 29, 2011 – Masonite Inc. (the "Company") today announced that it has signed an agreement to acquire Marshfield DoorSystems, Inc. ("Marshfield"), headquartered in Marshfield, WI. Marshfield is a leading provider of doors and door components for commercial and architecturally specified applications. Marshfield’s operations were founded in 1890 in Marshfield, WI, and it has been manufacturing and selling high-quality commercial door products since 1908. Marshfield employs approximately 600 people, with a primary facility in Marshfield, WI, and two smaller locations in Greensboro, NC and Largo, FL. Marshfield’s 2010 revenue exceeded $100 million. No other financial details of the acquisition have been disclosed.
04.11.11Masonite International Corporation Announces Upsizing and Pricing of Senior Notes
Tampa, FL, April 11, 2011 – Masonite International Corporation (the "Company") today announced that it increased the size of its offering of senior unsecured notes upon pricing. The Company priced $275 million aggregate principal amount of 8.25% senior unsecured notes due 2021 (the “notes”) at par. The Company intends to use the net proceeds from the sale of the notes for general corporate purposes, which may include funding a return of capital to Masonite Inc.’s shareholders and funding future acquisitions. Subject to customary closing conditions, this offering is expected to close on April 15, 2011.
01.12.11Masonite® Introduces New Styles and Innovative Designs for 2011 at IBS
TAMPA, FL, January 12, 2011 – Masonite Inc. (the "Company") – Masonite, the world leader in manufacturing of interior and exterior doors, is unveiling new styles, innovative security features, and environmental options to its already extensive line of high-quality door systems.
10.08.10Masonite Completes Acquisition of Lifetime Doors Inc.
TAMPA, FL, October 8, 2010 – Masonite Inc. (the "Company") today announced the acquisition of substantially all of the assets of Lifetime Doors Inc. ("Lifetime"), headquartered in Farmington Hills, MI. Lifetime is an interior flush door manufacturer specializing in molded, veneer, prefinished, and bifold doors. Lifetime was founded in 1947 in Livonia, Michigan, by William Gilbert and has been manufacturing and selling high quality door products since its inception. The financial details of the acquisition have not been disclosed.
10.04.10Masonite Honored with 2010 Best In Class Award
TAMPA, FL, October 4, 2010 – Masonite International Corporation was recently honored with the 2010 Best In Class Award (BICA) in the category of Steel Exterior Doors. Presented by the LBM Research Institute based in Lakeville, Minn., the BICAs honor outstanding building product manufacturers nationwide in comparison studies to competitive companies.
08.10.10Masonite Completes Third Strategic Transaction in India
MISSISSAUGA, ON, August 10, 2010 – Masonite Inc. (the "Company") today announced the strategic acquisition of selected assets of a third leading door manufacturer in India - Standard Doors, located at Medchal, Hyderabad in the Andhra Pradesh province. Standard Doors is one of the newest, fully integrated and largest modern dedicated door manufacturing plants in India. This third strategic transaction allows the Company to expand its direct presence in the rapidly growing India marketplace, thus increasing the strength of the Masonite brand on a nationwide scale while enhancing our distribution network for molded door facings.
07.07.10Masonite Inc. Elects Robert J. Byrne as Chairman of the Board
MISSISSAUGA, ON, July 7, 2010 – Masonite Inc., a leading global manufacturer of residential and commercial doors, announced today that the Board of Directors has unanimously elected Robert J. Byrne as Chairman of the Board. Effective August 1, 2010, Mr. Byrne will assume the role of Chairman from Kenneth W. Freeman, who will remain a member of the Board. Mr. Freeman stepped down from his position as the Company's Chairman due to his recent acceptance of the position of Allen Questrom Professor and Dean of the Boston University School of Management.
07.02.10Kenneth W. Freeman Stepping Down as Chairman of the Board of Directors of Masonite Inc.
MISSISSAUGA, ON, July 2, 2010 – Masonite Inc. (the "Company") announced today that Kenneth W. Freeman has resigned his position as Chairman of the Board of Directors of the Company due to his recent acceptance of the position of Allen Questrom Professor and Dean of the Boston University School of Management. Mr. Freeman will step down as Chairman as of August 1, 2010, and continue to serve as a director of the Company thereafter.
06.30.10Masonite Completes Two Strategic Transactions in India
MISSISSAUGA, ON, June 30, 2010 – Masonite Inc. (the "Company") announced the strategic acquisition of selected assets of two leading door manufacturers in India--Feroke Boards Limited, located at Aluva near Cochin, Kerala State and Mahsim High Tech Fab Limited, located at Chanalon Industrial Area near Mohali, Punjab State. The Company is also in the advanced stages of completing a third asset acquisition in a different region of the country.
05.13.10Masonite Inc. Announces Appointment of Chief Financial Officer
TAMPA, FL, May 13, 2010 – Masonite Inc. (the "Company") today announced the appointment of Mark J. Erceg as Executive Vice President and Chief Financial Officer, effective June 1, 2010.
04.09.10Masonite Annouces Appointment of Chief Technology Officer
TAMPA, FL, April 9, 2010 – Masonite Inc. (the "Company") today announced the appointment of Robert (Bob) Ritchie, PhD as Senior Vice President and Chief Technology Officer, effective April 12, 2010. In this role, Richie will assume responsibility for Masonite’s global research, development and product engineering functions.
03.17.10Masonite Completes Acquisition of LEDCO
TAMPA, FL, March 17, 2010 – Masonite Inc. (the "Company") today announced the acquisition of substantially all of the assets of Ledco, Inc. (“LEDCO”), located in Shelbyville, KY. LEDCO is a premier interior flush door manufacturer specializing in molded, veneer, mirror, pine, and bifold doors. LEDCO (previously known as Lake Erie Door Company) was founded in 1964 in Akron, Ohio, by the Solomon family and has been manufacturing and selling high quality door products since its inception. With a strong wholesale customer base located east of the Rockies, LEDCO has developed one of the finest reputations in the industry for providing high quality doors, customer focused service and unique products.
03.02.10A Letter to Masonite Customers Regarding the Earthquake in Chile
For information about the earthquake in Chile, read this letter to Masonite Customers
11.06.09Masonite Inc. Announces Acquisition of Israeli Steel Security and Safety Entry Door Business
MISSISSAUGA, ON, November 6, 2009 – Masonite Inc., a world leader in interior doors and entry door systems, announced its acquisition of the assets of 7 Tech, an Israeli-based steel security and safety door business. Masonite’s Israeli subsidiaries Etz Karmiel Ltd. and Open Gallery Ltd. will add the 7 Tech steel security and safety doors, with their attractive modern and European styling, to the company’s extensive interior and exterior wood door collection, thus creating a single source of supply for Masonite customers in Israel. In addition to its growing Israeli market position, 7 Tech currently exports its products to Europe, and Masonite intends to expand the export opportunities throughout the Middle East and Europe.
10.05.09Masonite Participates in ZEBRAlliance Energy Efficiency Research Project
OAK RIDGE, TN, October 5, 2009 – Masonite®, the world leader in manufacturing of interior and exterior doors, has provided their high-performance Barrington® and Belleville® fiberglass doors to the Zero Energy Building Research Alliance (ZEBRAlliance), a project evaluating the market viability of low-energy homes.
06.09.09Masonite Completes Financial Restructuring and Emerges From Chapter 11 And CCAA Protection
Outstanding Capital Structure Will Support Long-Term Business Objectives
MISSISSAUGA, ON, June 9, 2009 – Masonite International Corporation (the "Company") today announced that it has successfully completed its financial restructuring and emerged from protection under both Chapter 11 of the U.S. Bankruptcy Code and the Companies' Creditors Arrangement Act (CCAA) in Canada, only 85 days following its initial filings on March 16, 2009.
06.01.09Ontario Superior Court of Justice Recognizes U.S. Bankruptcy Court’s Confirmation of Masonite’s plan of Reorganization and approves Masonite's Canadian Plan of Arrangement
Company Expects to Emerge from Bankruptcy within Next Few Weeks
MISSISSAUGA, ON, June 1, 2009 – Masonite International Inc. (the "Company") today announced that the Ontario Superior Court of Justice issued an order recognizing and implementing in Canada the May 29, 2009 confirmation by the U.S. Bankruptcy Court in Wilmington, Delaware of the Company’s Plan of Reorganization and approving the Canadian corporate plan of arrangement (the “CBCA Plan”). Masonite expects to emerge from Chapter 11 of the U.S. Bankruptcy Code and Companies' Creditors Arrangement Act (CCAA) protection in Canada within the next few weeks.
05.29.09U.S. Bankruptcy Court Confirms Masonite’s Plan of Reorganization
Similar Approval Will Be Sought from the Ontario Superior Court of Justice on Monday
Masonite Expects to Complete Debt Restructuring Within Next Few Weeks
MISSISSAUGA, ON, May 29, 2009 – Masonite International Inc. (the "Company") today announced that the U.S. Bankruptcy Court in Wilmington, Delaware has entered an order confirming the Company’s Plan of Reorganization under Chapter 11 of the U.S. Bankruptcy Code (“the Plan”).
04.27.09Masonite International Inc. Announces Unaudited Summary Financial Information for the First Quarter of 2009
MISSISSAUGA, ON, April 27, 2009 – Masonite International Inc. today announced unaudited financial information for the first quarter of 2009. 2009 sales were $334.1 million, a decline of 28.1% compared to sales of $464.4 million in the first quarter of 2008. Operating EBITDA decreased 79.4% to $9.6 million from $46.7 million in the first quarter of 2008.
04.16.09Masonite Receives Final Court Authorization to Continue to Meet Obligations to Suppliers, Customers and Employees
Company Remains On Track To Complete Financial Restructuring Within A Few Months
MISSISSAUGA, ON, April 16, 2009 – Masonite International Inc. (the "Company") today reported that it continues to make good progress in implementing its "pre-negotiated" debt restructuring plan and is on track to complete its financial reorganization within the next few months. On April 14, the Company received final court authorization to continue to meet its obligations to trade suppliers on normal terms in the ordinary course of business. The Company also received final court authorization to continue to utilize its cash collateral to help meet its obligations to suppliers, employees and customers. This authorization was initially granted on an interim basis on March 17.
03.18.09Masonite Receives Interim Court Authorization to Continue Paying Suppliers in the Ordinary Course
Also Receives Authorization To Utilize Its Cash Collateral To Meet Ongoing Obligations To Suppliers, Employees and Customers. Over $150 Million Cash On Hand As Of March 12, 2009.
MISSISSAUGA, ON, March 18, 2009 – Masonite International Inc. (the "Company") today announced that it has received interim court authorization to continue to meet its obligations to trade suppliers on normal terms in the ordinary course of business.
03.16.09Masonite Receives Strong Support From Bank Lenders and Bondholders to Proceed with Debt Restructuring Plan
Once Completed, Plan Will Eliminate Nearly $2 Billion in Debt and Lower Annual Interest Expense by Approximately $145 Million. To Implement Restructuring, Company Initiates Voluntary Reorganization Proceedings Under Chapter 11 in the U.S. and CCAA in Canada
MISSISSAUGA, ON, March 16, 2009 – Masonite International Inc. (the “Company”) today announced that it has received strong support from its bank lender and bondholder constituencies to move forward with its previously announced debt restructuring plan. If implemented as proposed, this plan will enable Masonite to reduce its outstanding debt by nearly $2 billion, from $2.2 billion today to up to $300 million upon consummation of the plan, and reduce its annual cash interest costs by approximately $145 million.
03.03.09Masonite Reaches Agreement in Principle with Committees Representing its Bank Lenders and Bondholders to Significantly Reduce its Debt
Agreement To Enable Company To Eliminate Nearly $2 Billion In Debt And Implement An Appropriate Capital Structure To Support its Long-Term Strategic Plan and Business Objectives
MISSISSAUGA, ON, March 3, 2009 – Masonite International Inc. (the "Company") today announced that it has reached an agreement in principle with members of a steering committee representing its senior secured lenders and representatives of an ad-hoc committee representing holders of its senior subordinated notes due 2015 on the terms of a restructuring plan that will enable the Company to significantly reduce its outstanding debt and create an appropriate capital structure to support the Company's long-term strategic plan and business objectives.
02.03.09Masonite International Inc. Extends Forbearance Agreements with Lenders and with Holders of a Majority of Its Notes
MISSISSAUGA, ON, February 3, 2009 – Masonite International Inc. (the “Company”) today announced that it has entered into a further extension, to February 9, 2009, of the forbearance agreement dated September 16, 2008, with its bank lenders. Masonite also has entered into a further extension, to February 13, 2009, of the separate forbearance agreement it previously reached with holders of a majority of the senior subordinated notes due 2015 issued by two of the Company’s subsidiaries. Masonite continues to pursue opportunities to develop an appropriate capital structure to support its long-term strategic plan and business objectives.
1.16.09Masonite International Inc. Enters into Further Extension of Forbearance Agreement with Bank Lenders
MISSISSAUGA, ON, January 16, 2009 – Masonite International Inc. (the “Company”) today announced that it has entered into a further extension, to January 30, 2009, of the forbearance agreement dated September 16, 2008, with its bank lenders.
12.31.08Masonite International Inc. Extends Forbearance Agreements with Holders of a Majority of Its Notes and with Lenders
MISSISSAUGA, ON, December 31, 2008 – Masonite International Inc. (the “Company”) today announced that it has entered into an extension of the forbearance agreement it previously reached with holders of a majority of the senior subordinated notes due 2015 issued by two of the Company’s subsidiaries. Masonite also announced that it delivered a draft business plan to its bank lenders and the noteholders’ advisors by the December 19, 2008 deadline, providing for an extension of a separate forbearance agreement with the lenders to January 15, 2009. Masonite continues to pursue opportunities to develop an appropriate capital structure to support its long-term strategic plan and business objectives.
11.28.08Masonite International Inc. Announces Unaudited Summary Financial Information for the Third Quarter and First Nine Months of 2008
MISSISSAUGA, ON, November 28, 2008 – Masonite International Inc. today announced third quarter 2008 sales of $453.2 million, a decline of 14.4% compared to sales of $529.3 million in the third quarter of 2007. Operating EBITDA decreased 54.7% to $32.1 million from $70.8 million in the third quarter of 2007.
11.28.08Masonite International Inc. Enters Into an Amendment to Its Credit Agreement and an Extension of the Forbearance Agreement with Bank Lenders
MISSISSAUGA, ON, November 28, 2008 – Masonite International Inc. (the “Company”) today announced that on November 25, 2008 it entered into an amendment to its credit agreement and an extension of the forbearance agreement dated September 16, 2008, with its bank lenders. This extension provides the Company time to develop a revised business plan for 2009, which will serve as the basis of its efforts to create an appropriate capital structure to support Masonite’s long-term business objectives.
11.20.08Masonite’s Safe ‘N Sound Emerald Door is Selected as Top-10 Green Product for 2008
BOSTON, MA, November 20, 2008 – Safe ‘N Sound® Emerald™ Door from Masonite® has been selected as one of BuildingGreen’s 2008 Top-10 Green Building Products by the editors of Environmental Building News and GreenSpec® announced at the U.S. Green Building Council’s Greenbuild Conference in Boston last month. This seventh annual award recognizes the most innovative and exciting green building products added to the GreenSpec® Directory during the past year or covered in Environmental Building News.
11.18.08Fred Lynch Joins Masonite Board of Directors
MISSISSAUGA, ON, November 18, 2008 – Masonite International Inc. today announced that, Fred Lynch, President and Chief Executive Officer of Masonite has been appointed to the Board of Directors of Masonite International Inc., and its principle U.S. and Canadian operating companies. Mr. Lynch replaces Scott Nuttall, who has resigned from the Board.
11.17.08Masonite International Inc. Enters into Forbearance Agreement with Holders of a Majority of its Notes
MISSISSAUGA, ON, November 17, 2008 – Masonite International Inc. (the “Company”) today announced that it has entered into a forbearance agreement with holders of a majority of the senior subordinated notes due 2015 issued by two of the Company’s subsidiaries. Masonite expects that this forbearance agreement will provide the Company additional time and flexibility as it continues to pursue opportunities to develop an appropriate capital structure to support its long-term strategic plan and business objectives.
09.26.08Masonite Corporation Announces Supply Chain Financing Program Facilitated by PrimeRevenue, Inc.
TAMPA, FL, September 26, 2008 – Masonite Corporation today announced the completion of a Supply Chain Finance program facilitated by PrimeRevenue, Inc.
09.16.08Masonite International Inc. Enters into Forbearance Agreement with Bank Lenders
MISSISSAUGA, ON, September 16, 2008 – Masonite International Inc. (the “Company”) today announced that it has entered into a forbearance agreement with its bank lenders that provides the Company more time and flexibility to negotiate a potential amendment to the terms of its credit facility.
08.28.08Masonite International Inc. Announces Second Quarter and First Half 2008 Results
MISSISSAUGA, ON, August 28, 2008 – Masonite International Inc. today announced second quarter 2008 sales of $507.8 million, a decline of 13.8% compared to sales of $588.9 million in the second quarter of 2007. Operating EBITDA decreased 48.0% to $46.1 million from $88.6 million in the second quarter of 2007. Adjusted EBITDA, calculated pursuant to the Company’s credit agreement, declined 43.5% to $56.0 million in the second quarter of 2008, compared to $99.1 million in the prior year period. As described in the attached reconciliation, second quarter 2008 Adjusted EBITDA includes $9.9 million of net adjustments, while Adjusted EBITDA in the second quarter of 2007 includes $10.5 million of such adjustments.
08.21.08Masonite International Inc. Schedules Second Quarter 2008 Earnings Release and Conference Call for August 28, 2008
MISSISSAUGA, ON, August 21, 2008 - Masonite International Inc. will release earnings for the Second Quarter of 2008 at 7:30 a.m. Eastern Daylight Time Thursday morning August 28, 2008. Copies of the release, along with related financial statements, will be available simultaneously within the “News & Events” section of the Company’s website at www.masonite.com.
On Thursday, August 28, 2008, at 10:00 a.m. Eastern Daylight Time, the Company will host a conference call to discuss the earnings results and business trends.
07.28.08Masonite Announces Echelon Laser Systems, LP
TAMPA, FL, July 28, 2008 – Masonite, a world leader in interior doors and entry door systems, announced the formation of Echelon Laser Systems, LP. Echelon Laser Systems is a joint venture between Masonite and TechnoLines, LP, an innovator in laser etching technology.
07.09.08Masonite International Inc. Indicates Likely Non-Compliance with Financial Covenants, Negotiations with Bank Lenders on Amendment Ongoing
MISSISSAUGA, ON, July 9, 2008 – Masonite International Inc. (the "Company") today indicated that, based upon a preliminary evaluation of its financial performance for the quarter ended June 30, 2008, it would likely not be in compliance as of such date with the financial covenants contained in the Company’s credit facility. Such non-compliance would constitute an event of default under the credit facility. Both financial covenants relate to EBITDA metrics and reflect the challenging conditions in the U.S. housing industry.
06.27.08Masonite International Corporation Announces Acquisition of Additional Shares of a Canadian Subsidiary
MISSISSAUGA, ON, June 27, 2008 – On Friday June 27, 2008, Masonite International Corporation increased its ownership of Sacopan Inc. by acquiring an additional 25% of the outstanding shares from SGF Rexfor Inc. As a result, Masonite owns 75% of the outstanding shares of Sacopan. Sacopan manufactures interior door components and supplies the components to Masonite.
05.15.08Masonite International Inc. Announces First Quarter 2008 Results
MISSISSAUGA, ON, May 15, 2008 – Masonite International Inc. today announced first quarter 2008 sales of $464.4 million, a decline of 18.4% compared to sales of $569.4 million in the first quarter of 2007. Operating EBITDA decreased 36.5% to $46.7 million from $73.5 million in the first quarter of 2007. Adjusted EBITDA, calculated pursuant to the Company’s credit agreement, declined 34.7% to $53.5 million in the first quarter of 2008, compared to $81.9 million in the prior year period. As described in the attached reconciliation, first quarter 2008 Adjusted EBITDA includes $6.8 million of net adjustments, while Adjusted EBITDA in the first quarter of 2007 includes $8.4 million of such adjustments.
05.08.08Masonite International Inc. Schedules First Quarter 2008 Earnings Release and Conference Call for May 15, 2008
MISSISSAUGA, ON, May 8, 2008 - Masonite International Inc. will release earnings for the First Quarter of 2008 at 7:30 a.m. Eastern Daylight Time Thursday morning May 15, 2008. Copies of the release, along with related financial statements, will be available simultaneously within the “News & Events” section of the Company’s website at www.masonite.com.
On Thursday, May 15, 2008, at 9:00 a.m. Eastern Daylight Time, the Company will host a conference call to discuss the earnings results and business trends.
03.17.08Masonite International Inc. Announces Acquisition of Minority Interest in Foreign Subsidiary
MISSISSAUGA, ON, March 17, 2008 – On Friday March 14, 2008, Masonite International Corporation acquired the remaining 25% of the shares outstanding in Kronospan Door Holdings Ltd., the parent of Masonite Czech and Masonite Poland. "Completing the acquisition of the remaining 25% of our businesses in Poland and the Czech Republic solidifies our strong position in these two attractive, growing markets", said Fred Lynch, President and Chief Executive Officer of Masonite International.
03.11.08Masonite International Inc. Announces Fourth Quarter and Year End 2007 Results
MISSISSAUGA, ON, March 11, 2008 – Masonite International Inc. today announced fourth quarter 2007 sales of $486.8 million, a decline of 16.8% compared to sales of $585.0 million in the fourth quarter of 2006. Operating EBITDA decreased 42.9% to $39.4 million from $69.0 million in the fourth quarter of 2006. Adjusted EBITDA, calculated pursuant to the Company’s credit agreement, declined 24.0% to $57.6 million in the fourth quarter of 2007, compared to $75.8 million in the prior year period. As described in the attached reconciliation, fourth quarter 2007 Adjusted EBITDA includes $18.2 million of net adjustments, while Adjusted EBITDA in the fourth quarter of 2006 includes $6.8 million of such adjustments.
03.05.08Masonite International Inc. Schedules Fourth Quarter 2007 Earnings Release and Conference call for March 11, 2008 - **Correction to Dial in Number**
MISSISSAUGA, ON, March 5, 2008 - Masonite International Inc. will release earnings for the Fourth Quarter of 2007 at 7:30 a.m. Eastern Daylight Time Tuesday morning March 11, 2008. Copies of the release, along with related financial statements, will be available simultaneously within the "News & Events" section of the Company's website at www.masonite.com.
On Tuesday, March 11, 2008, at 10:00 a.m. Eastern Daylight Time, the Company will host a conference call to discuss the earnings results and business trends.
02.13.08Masonite Expands Mahogany Door Offering to Meet Growing Demand
TAMPA, FL., February 13, 2008 – As American's migrate from conventional cathedral grained wood species such as Red Oak to finer grained species such as Cherry, Maple and Mahogany for upscale kitchen cabinetry and hardwood flooring, so too has their demand for Mahogany doors.
“Although oak still makes up the majority of our sales, we have seen dramatic increases in our Mahogany doors which compliment premium flooring and cabinetry, whereas oak will contrast many of these warm, fine grains”, says Doug Thompson, Masonite’s Senior Director of Product Management, Exterior Doors. “The natural beauty of these hardwoods can transform an average living space, into a stunning home. Nothing is more important when creating a stunning home than the first impression that occurs at the front door.”
Masonite, a leader in design and innovation for over 80 years, is proud to offer four new Mahogany designs that will leave a lasting impression on both you and your guests, while not requiring all of the maintenance typically associated with a wood door.
02.13.08Masonite Unveils New Green Interior Doors
TAMPA, FL., February, 13, 2008 – In response to a grassroots movement in the building products industry Masonite, the world leader in manufacturing of Interior and Exterior doors, announced today that at the 2008 International Builder Show it will again expand on its founders 84 year old vision of environmental stewardship by launching two new interior doors, the Safe 'N Sound and the Safe 'N Sound Emerald.
02.13.08Masonite to Launch Flagstaff™ a New Pairing of Interior and Exterior Doors for Design Continuity
TAMPA, FL., February, 13, 2008 – Masonite announced today that it will unveil the new Flagstaff™ at the International Builders' Show in February 2008. Building on the company's already diverse product lines, the Flagstaff is the culmination of customer input, trend research and creative design to create a door family that clearly and elegantly links the interior and exterior door. This progressive design of the Flagstaff doors is a pleasing blend between the appearance of historically accurate wood door construction and trend-setting aesthetics.
02.13.08Masonite's AvantGuard™ Finish Makes Owning an Exotic Wood Door More Affordable and Easier to Maintain while being Environmentally Friendly
TAMPA, FL., February 13, 2008 – If you have been wishing you could upgrade your home to incorporate the natural beauty of wood, but didn't want the hassle of constant maintenance or the price tag of an exotic species, Masonite's AvantGuard™ finish is your solution. It is the groundbreaking finishing technique developed by Masonite that fuses the natural appearance of real wood to composite materials, creating a door utopia.
02.06.08Masonite Launches the www.Masonite.com
TAMPA, FL., FEBRUARY 6, 2008 – After several months of research, development and testing, Masonite is pleased to announce the launch of the new www.masonite.com. The new site includes a fresh, clean look, extensive product content and incredible functionality to help consumers and trade professionals choose from the best door products in the industry. The site also includes great new educational sections for those who want to better understand the door category or get technical information about Masonite's products.
11.08.07Masonite International Inc. Announces Third Quarter 2007 Results
MISSISSAUGA, ON, November 8, 2007 – Masonite International Inc. today announced third quarter 2007 net sales of $529.3 million, a decline of 15.0% compared to net sales of $622.4 million in the third quarter of 2006. Operating EBITDA decreased 22.6% to $70.8 million from $91.5 million in the third quarter of 2006. Adjusted EBITDA, calculated pursuant to the Company's credit agreement, declined 14.2% to $80.1 million in the third quarter of 2007, compared to $93.4 million in the prior year period. As described in the attached reconciliation, third quarter 2007 Adjusted EBITDA includes $9.3 million of net adjustments, while Adjusted EBITDA in the third quarter of 2006 includes $1.9 million of such adjustments.
11.02.07Masonite International Inc. Schedules Third Quarter 2007 Earnings Release and Conference call for November 8, 2007
MISSISSAUGA, ON, November 2, 2007 - Masonite International Inc. will release earnings for the Third Quarter of 2007 at 7:30 a.m. Eastern Standard Time Thursday morning November 8,2007. Copies of the release, along with related financial statements, will be available simultaneously within the "Corporate Information" section of the Company's website at www.masonite.com.
On Thursday, November 8, 2007, at 11:00 a.m. Eastern Standard Time, the Company will host a conference call to discuss the earnings results and business trends.
10.29.07Anthony DiLucente Appointed Chief Financial Officer of Masonite International; Fred Arnold Concludes Assignment at Masonite
October 29, 2007 - Effective November 1st, Anthony DiLucente will join Masonite as Chief Financial Officer of Masonite International reporting to Fred Lynch, President and CEO.
Tony joins Masonite with 28 years of experience, most recently as the Vice President of Finance for Johns Manville's Engineered Products Group. Prior to this role, Tony spent 10 years at Honeywell International (formerly Allied Signal) in a variety of positions eventually becoming Vice President and Chief Financial Officer of the Honeywell Nylon Group.
8.09.07Masonite International Inc. Announces Second Quarter 2007 Results
MISSISSAUGA, ON, August 9, 2007 – Masonite International Inc. today announced second quarter 2007 net sales of $588.9 million, a decline of 10.4% compared to net sales of $657.5 million in the second quarter of 2006. Operating EBITDA increased 11.0% to $88.6 million from $79.9 million in the second quarter of 2006. Adjusted EBITDA, calculated pursuant to the Company’s credit agreement, declined 3.3% to $91.9 million in the second quarter of 2007, compared to $95.0 million in the prior year period. As described in the attached reconciliation, second quarter 2007 Adjusted EBITDA includes $3.3 million of net adjustments, while Adjusted EBITDA in the second quarter of 2006 includes $15.1 million of such adjustments, including a $9.0 million non-cash inventory write down that reduced Operating EBITDA.
8.07.07Masonite International Inc. Schedules Second Quarter 2007 Earnings Release and Conference Call for August 9, 2007
MISSISSAUGA, ON, August 7, 2007 - Masonite International Inc. will release earnings for the Second Quarter of 2007 at 7:30 a.m. Eastern Daylight Time Thursday morning August 9, 2007. Copies of the release, along with related financial statements, will be available simultaneously within the "Corporate Information" section of the Company's website at www.masonite.com.
On Thursday, August 9, 2007, at 11:00 a.m. Eastern Daylight Time, the Company will host a conference call to discuss the earnings results and business trends.
5.30.07Frederick J. Lynch Appointed Chief Executive Officer of Masonite International
MISSISSAUGA, ON, May 30, 2007 – Masonite International Inc. announced today that Frederick J. Lynch, 43, the company's President since July 2006, will assume the additional title of Chief Executive Officer, effective immediately. Kenneth W. Freeman will continue as Chairman of Masonite, a leading global manufacturer of residential and commercial doors.
5.23.07Masonite International Inc. Announces First Quarter 2007 Results
MISSISSAUGA, ON, May 23, 2007 – Masonite International Inc. today announced first quarter 2007 net sales of $569.4 million, a decline of 5.0% compared to net sales of $599.6 million in the first quarter of 2006. Operating EBITDA increased 18.5% to $73.5 million from $62.0 million in the first quarter of 2006. Adjusted EBITDA, calculated pursuant to the Company's credit agreement, increased 13.8% to $77.4 million in the first quarter of 2007, compared to $68.3 million in the prior year period. First quarter 2007 Adjusted EBITDA includes $3.9 million of net adjustments, while Adjusted EBITDA in the first quarter of 2006 includes $6.3 million of such adjustments, as described in the attached reconciliation.
5.18.07Masonite International Inc. Schedules First Quarter 2007 Earnings Release and Conference Call for May 23, 2007
MISSISSAUGA, ON, May 18, 2007 - Masonite International Inc. will release earnings for the first quarter 2007 at 7:00 a.m. Eastern Daylight Time Wednesday morning May 23, 2007. The release, along with related financial statements, will be available simultaneously within the “Corporate Information” section of the Company's website at www.masonite.com.
On Wednesday May 23, 2007, at 10:00 a.m. Eastern Daylight Time, the Company will host a conference call to discuss the earnings results and business trends.
3.12.07Masonite International Inc. Announces Fourth Quarter 2006 Results
TAMPA, FL, March 12, 2007 – Masonite International Inc. today announced fourth quarter 2006 net sales of $585.0 million, a decline of 1.7% compared to net sales of $595.2 million in the fourth quarter of 2005. Operating EBITDA increased 39.1% to $69.0 million from $49.6 million in the fourth quarter of 2005. Consolidated Adjusted EBITDA, calculated pursuant to the Company's Credit Agreement, increased 9.1% to $75.8 million in the fourth quarter of 2006, compared to $69.5 million in the prior year period. Fourth quarter 2006 Adjusted EBITDA includes $6.8 million of net adjustments, while Adjusted EBITDA in the fourth quarter of 2005 includes $19.9 million of such adjustments, as described in the attached reconciliation.
3.07.07Masonite International Inc. Schedules Fourth Quarter and Full Year 2006 Earnings Release and Conference Call for March 12, 2007
TAMPA, FL, March 7, 2007 - Masonite International Inc. will release earnings for the fourth quarter and full year ending December 31, 2006 at 7am Eastern Time Monday morning March 12, 2007. Copies of the release, along with related financial statements, will be available simultaneously within the “Corporate Information” section of the Company's website at www.masonite.com.
On Monday March 12, 2007, at 10:00am Eastern Time, the Company will host a conference call to discuss the earnings results and business trends.