The Sherwin-Williams Company announced its financial results for the year and fourth quarter ended December 31, 2006. Consolidated net sales increased $619.1 million, or 8.6%, to $7.81 billion in the year and $84.5 million, or 4.9%, to $1.79 billion in the quarter due primarily to strong paint sales by the Global Group and by stores open for more than twelve calendar months in the Paint Stores Group.
Consolidated net income increased $112.8 million, or 24.3%, to $576.1 million in the year and $23.6 million, or 31.3%, to $98.7 million in the quarter. As a percent to net sales, consolidated net income improved to 7.4% from 6.4% in the year and to 5.5% from 4.4% in the quarter due primarily to improved profitability of operations.