Valspar Reports Increased Sales for Fourth Quarter, Full Year
MINNEAPOLIS - The Valspar Corp. reported results for the fourth quarter and fiscal year ended October 25, 2013. Fourth-quarter 2013 net sales were $1.1 billion, up 8 percent versus the prior year. Reported net income and earnings per diluted share for the current and prior year include several nonrecurring items. Fourth-quarter 2013 adjusted net income and earnings per diluted share, excluding these nonrecurring items, were $86 million and $0.97, respectively. Fourth-quarter 2012 adjusted net income and earnings per diluted share were $80 million and $0.86, respectively
Fiscal year 2013 net sales were $4.1 billion, up 2 percent versus the prior year. Fiscal year 2013 adjusted net income and earnings per diluted share, excluding nonrecurring items, were $320 million and $3.54, respectively. Fiscal year 2012 adjusted net income and earnings per diluted share were $310 million and $3.28, respectively.