Master Lock

Fortune Brands Home & Security fell into the red during the fourth quarter with a $105.3 million operating loss after posting a $36.4 million operating income during the same period a year ago. Despite seeing shades of red, net sales at the company improved by 4% to reach $876.1 million for the quarter ended Dec. 31. More

The CEO of Fortune Brands Home & Security--the day-old corporate spinoff whose brands include MasterBrand cabinets, Moen faucets, Simonton windows, Therma-Tru entry doors, and Master Lock-says the company begins life strong, profitable, and contemplating acquisitions once the housing market recovers. More

Fortune Brands--the conglomerate whose units include such home product lines as Moen faucets, Aristokraft and Kitchen Craft cabinets, Therma-Tru doors, Simonton windows, and Master Lock secuity products--reported that its Home & Security unit's operating income plummeted 74.6% in the first quarter from the year-earlier period to $5.7 million even though the unit's net sales grew 2.3% to $714.2 million. It also lowered its future growth forecast. More

Fortune Brands-whose home product lines include Moen faucets, Aristokraft cabinets and Therma-Tru doors-announced that its home and security division posted an operating income of $43.4 million during the fourth quarter of 2010. The income is an $8.3 million increase from the $35.1 million operating income the division posted during the fourth quarter of 2009. More

Fortune Brands announced it will spin off its home and security division--a group that includes Moen faucets, MasterBrand Cabinets, Therma-Tru doors, Simonton windows, and Master Lock--into an independent, publicly traded company with annual sales topping $3 billion. More