PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Paint and Coatings Industry News

Main News Page


Valspar Posts Gains in Sales, Earnings

Wednesday, February 17, 2010

Comment | More

The Valspar Corp. reported net income of $33.9 million for the company’s first quarter ended Jan. 29, up sharply from net income of $14.2 million for the same period a year earlier. Sales for the quarter rose 5.1%, to $672.4 million.

William L. Mansfield, Valspar’s chairman and CEO, said “Improved top-line results, particularly in our Paints segment and in Asia, contributed to our strong earnings performance.” He added, “New business and share gains, together with our focus on productivity and cost control, are helping to offset ongoing weakness in U.S. industrial markets.”

First-quarter sales for the company’s Coatings segment were $391.3 million, an increase of 4.4% from the same period a year earlier. The segment’s earnings before interest and taxes (EBIT) were $43 million, up from $24.9 million a year earlier.

First-quarter sales for the company’s Paint segment were $233.4 million, a 9.7% increase from the year-earlier period. EBIT was $27.8 million, compared to $16 million in the same period a year earlier.

Commenting on the outlook for the rest of the year, Mansfield said the company anticipates continued improvement in sales and earnings, “consistent with our current results.” He forecast fiscal-year 2010 per-share net income in the range of $1.85 to $2.05, excluding restructuring charges. Earnings per share for the company’s 2009 fiscal year, ended Oct. 30, 2009, were $1.77 per share.

   

Tagged categories: Coatings manufacturers; Valspar

Comment Join the Conversation:

Sign in to our community to add your comments.

Hempel (USA) Inc.
HEMPEL PROTECTIVE COATINGS

Efficient systems and high quality products to reduce your maintenance costs. Visit Hempel Protective for more information.


Wasser High-Tech Coatings Inc.
Wasser Coatings Protect

some of the most important bridges in the country; learn about our NEPCOAT-approved system and our entire range of MCU & Polyurea coatings. 1-800-627-2968 www.wassercoatings.com


Polyval Coatings
Polyflex® Polyurea Linings

exhibit outstanding versatility in use; providing abrasion resistance, superior seamless waterproofing and high-chem corrosion protection. www.polyflexlinings.com


Atlantic Design, Inc.
MORE THAN JUST A SALES PITCH!

Simplicity! Dependability! Safety! We’ve built these features into every cleverly engineered inch of our newest models. It’s all there. 866.Call.ADI


ITW Binks
Built for Tough Jobs

From Epoxies to Urethanes to other high solid coatings, the new Binks Airless 75 delivers a great finish using an ergonomic design. Visit binks.com for more information.


Abrasives Inc.
One Call Orders it All!

Life is good when it’s simple. We distribute Clemco blast equipment, nozzles & parts alongside our proven blast media. Make your call: Abrasives Inc. 800-584-7524


Spider, a Division of SafeWorks, LLC
Spider’s Competent Person Training

What will Spider’s CPT class do for you?
• OSHA compliance
• Increased productivity
• Improved safety
   awareness
• Fewer accident-related
   costs
Call 877-774-3370 or click for classes near you.

 
 
 
Technology Publishing

The Technology Publishing Network

The Journal of Protective Coatings & Linings (JPCL) PaintSquare
Durability + Design Paint BidTracker JPCL Europe

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
 

© Copyright 2000-2014, Technology Publishing / PaintSquare, All rights reserved
2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com