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Masco Guides Lower

The building products maker is pressed by rising prices.
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Masco (MAS) - Get Masco Corporation Report matched fourth-quarter targets but guided lower for 2006.

The Taylor, Mich., building products outfit made $142 million, or 34 cents a share, for the quarter ended Dec. 31, up from the year-ago $139 million, or 31 cents a share. Excluding a latest-quarter asset impairment charge, fourth-quarter earnings were 54 cents a share, beating the 50-cent Thomson Financial analyst consensus estimate.

Revenue rose to $3.15 billion from $2.98 billion a year earlier. Analysts were looking for $3.2 billion.

Assuming no further significant commodity cost increases and excluding any additional costs associated with its cost reduction programs and any other items, the company expects to make $2.35 to $2.45 from continuing operations per common share for 2006. Including planned costs and charges related to plant closures and other profit improvement programs, which are presently expected to approximate $70 million pretax in 2006, earnings from continuing operations are expected to be in a range of $2.24 to $2.34 per common share. Analysts were looking for $2.50.

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