Financial News

Valspar Reports 4Q and Full-Year Results

August 10, 2005

Valspar Reports 4Q and Full-Year Results
● The Valspar Corporation reported sales for the fourth quarter
2002 increased 7.9% to $566.8 million, compared to $526.4
in 2001. The company also reported net income of $34.9
million for the fourth quarter, ended Oct. 25, compared
with $2.5 million last year. Last year’s fourth quarter earnings
were adjusted for a pre-tax restructuring charge of
$39.3 million and amortization expense of goodwill and
intangible assets.
Yearly sales increased 10.7% to $2.1 billion from last
year’s sales of $1.9 billion. Net income for fiscal 2002 was
reported at $120 million compared to $51.5 million the previous
year, which was adjusted for the restructuring and
other charges.