Norcraft posted a net loss despite a sales rise in the third quarter. Among its brands is Starmark Cabinetry. EAGAN, MN - Cabinetry manufacturer Norcraft Cos.' net sales rose 9.1%, to $73.9 million, but losses more than tripled, to $1.7 million in the 3rd quarter 2012, for the maker of Mid Continent Cabinetry, Norcraft Cabinetry, UltraCraft, StarMark Cabinetry, Fieldstone Cabinetry and Brookwood.
"We are disappointed with our results," commented president and CEO, Mark Buller, blaming the decline in profits on discounting by competitors. Buller said he expects growth from the housing recovery to turn things around.
"We are optimistic about these early signs of recovery in the new home construction and home improvement markets and our ability to leverage the growth into improved profitability," he said.