Valspar posts $74M profit in 4th-quarter - Bring Me The News

Valspar posts $74M profit in 4th-quarter

Author:
Publish date:

Valspar Corp.'s net income was $73.8 million in the fourth-quarter that ended Oct. 26, compared with with a loss of $295.7 million in the same quarter last year, the Associated Press reports.

The Minneapolis-based maker of paintings and coatings also reported a fourth consecutive year of double-digit earnings growth, and it's predicting a fifth, according to the Star Tribune.

"We overcame the challenge of uneven global markets by winning significant new business and through relentless focus on productivity," Gary Hendrickson, Valspar chairman and CEO, said in a news release. "We expect uneven global demand to continue, but we are well-positioned for growth in both our Coatings and Paints segments."

For the full 2012 fiscal year, Valspar earned $292.5 million in net income, compared with a loss of $138.6 million in fiscal 2011.

Click here, to follow Valsapr's stock performance.

Next Up

Related

Capella Education's net profit plummets 49 percent in third-quarter

Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports. Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.