Valspar posts third-quarter gains

Minneapolis-based Valspar Corp., makers of paint, reported third-quarter sales of $1.08 billion, up 1% from the same quarter last year.

“We were pleased with our performance in the quarter,” said Gary Hendrickson, chairman and CEO. “Excluding negative currency impact, our revenue increased 3% and our strong earnings growth is the outcome of excellent execution in a challenging global environment.”

Net income for the third quarter of 2012 was $86.4 million, up 28.1% from $67.4 million in the third quarter of 2011.

“Looking ahead to our fourth quarter, we expect continued softness in some international markets and modest growth in North America,” Hendrickson said.