Valspar Reports Second Quarter Earnings

May 15, 2006  by in UnCategorized   

By Home Furnishings Business in on May 2006 The Valspar Corp. reported net income for the second quarter ended April 28 of $47.9 million compared with $39.2 million posted during the same period last year.

Sales for the quarter increased 8.6 percent to $766.8 million, compared to $705.9 million during the second quarter of last year.

Net income for the first six months of the year was almost $70.5 million compared with nearly $51 million for the same period a year ago. Sales for the first half increased 10.6 percent to $1.4 billion compared to first half sales of $1.3 billion a year ago.

Commenting on the second quarter and outlook for the year, William L. Mansfield, president and chief executive officer, said, “Our improved second quarter performance was driven by continued sales strength in our paints and coatings segments, progress in recovering raw material cost increases and improved manufacturing efficiencies.”