logo_sm.gif (4042 bytes)
Your Source for Up-To-Date News and Research on the Collision Repair Industry 

 
Subscribe to INSIGHT Editor's Desk News Alerts
click here to subscribe to the FREE INSIGHT Editor's Desk News Alert Email


lftspace.GIF (57 bytes)
SUBSCRIBERS-ONLY
Today's News
INSIGHT This Month
INSIGHT Archives
Survey Center
Letter to the Editor
Business Tools
Subscription Information
CSI Reporting
Financial Analysis
IRS Audit Guide
Management/
Technical Info

Market Watch Rates
INSIGHT Inside this month's issue...
Feedback
Letter to the Editor
cntspace.GIF (53 bytes)
Monday August 11

Valspar Reports Third Quarter Results

The Valspar Corporation, a leading coatings manufacturer, has reported net income for the third quarter ended July 25, 2003 of $40,114,000 versus net income of $38,054,000 for the comparable period last year. Diluted earnings were $0.77 per share, up 4.1 percent from $0.74 reported a year ago.

Sales for the quarter increased 4.0 percent to $598,179,000, compared to $575,043,000 last year. Net income for the first nine months of 2003 was $87,889,000 or $1.70 per diluted share, compared with $85,196,000 or $1.66 per diluted share for the same period a year ago. Sales for the first nine months increased 4.4 percent to $1,628,920,000, compared to $1,560,085,000 during the comparable period a year ago.

Commenting on third quarter results, Richard M. Rompala, Chairman and Chief Executive Officer, said, "We are pleased with our third quarter results in light of the difficult market conditions, which include a weak industrial economy, raw material cost pressures and until July, soft retail demand for architectural coatings. Our packaging and architectural coatings product lines have continued to deliver improved financial results while our industrial coatings financial performance has been constrained by soft demand. We continue to focus on cash flow and cost reduction initiatives and believe we are well positioned to generate stronger earnings growth as market conditions improve."

©2003 Collision Repair Industry INSIGHT
All Rights Reserved

FEATURED
LINKS:

PPG Automotive Refinish

Akzo Nobel

Sherwin-Williams Automotive Finishes

DuPont Automotive Refinish

Spies-Hecker Automotive Refinish

National Auto Body Council
INSIGHT Supports the NABC!
Do You?