TAMPA, Fla. (AP) _ Masonite International Corp. (DOOR) on Tuesday reported first-quarter net income of $29.9 million.
The Tampa, Florida-based company said it had profit of $1.19 per share. Earnings, adjusted for restructuring costs, were $1.24 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The door maker for the housing industry posted revenue of $551.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $523.3 million.
Masonite shares have fallen 21% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $57.34, a rise of 2% in the last 12 months.