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.

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