UPDATE 1-Masco posts lower Q2 profit, narrows 2009 loss view

lunes 27 de julio de 2009 23:22 CEST
 

* Q2 EPS $0.15 vs $0.23 last year

* Q2 revenue falls 23 pct

* Narrows 2009 loss outlook

* Sees 2009 housing starts down 40 pct

* Shares rise 7 pct

July 27 (Reuters) - Masco Corp (MAS.N: Cotización), a building products maker, posted a lower quarterly profit but narrowed its loss outlook for 2009, sending its shares up 7 percent in after-market trade.

For the second quarter, Masco posted earnings attributable to the company of $55 million, or 15 cents a share, compared with $82 million, or 23 cents a share, a year earlier.

The latest quarter included pre-tax charges of $22 million and $15 million related to various restructuring actions.

Revenue fell 23 percent to $2.04 billion.   Continuación...