Valspar reported that third-quarter sales rose 10% to $797 million, from $727 million in the same period last year. Earnings rose 13% for the period to $52.6 million from $45.7 million.
The company, which manufactures paints and coatings under several brands, including American Tradition and Ralph Lauren, said the higher earnings were due to strong sales of industrial and resin products, as well as price hikes.
In other news, the company also said it has completed the acquisition of an 80% stake in Hong Kong-based Huarun Paints Holdings, maker of wood, furniture and architectural coatings, for $290 million.
Valspar's Sales, Earning Rise in Third Quarter
By Tim Wright
Published August 31, 2006
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