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VALSPAR REPORTS FIRST QUARTER RESULTS

 VALSPAR REPORTS FIRST QUARTER RESULTS
 MINNEAPOLIS, Feb. 11 /PRNewswire/ -- The Valspar Corporation


(AMEX: VAL), a major coatings company, reported higher earnings for the first quarter ended Jan. 24, 1992, of $3,602,000 or 33 cents per share, versus $2,016,000 or 18 cents per share last year. Sales increased 8 percent to $131,480,000 compared to $121,720,000 a year ago, with 4 percent of the growth coming from businesses acquired during the last twelve months.
 C. Angus Wurtele, Valspar's chairman, stated that "most of Valspar's businesses showed improved sales and profits compared to the first quarter of 1991, but our industrial coatings business continues to be impacted by the lagging economy." Increased first quarter profits were "the result of modest volume increases, improved margins and expense reductions implemented last year."
 VALSPAR CORPORATION
 COMPARATIVE RESULTS (Unaudited)
 For the periods ended Jan. 24, 1992 and Jan. 25, 1991
 First Quarter
 1992 1991
 Net sales $131,480,000 $121,720,000
 Cost of sales 97,223,000 91,711,000
 Operating expenses 27,301,000 25,121,000
 Operating profit 6,956,000 4,888,000
 Interest expense 752,000 1,588,000
 Other income (expense) net (251,000) 33,000
 Income before income taxes 5,953,000 3,333,000
 Income taxes 2,351,000 1,317,000
 Net income $3,602,000 $2,016,000
 Net income per common share $.33 $.18
 Average number of
 shares outstanding 10,987,451 10,912,518
 -0- 2/11/92
 /CONTACT: Paul C. Reyelts of Valspar, 612-375-7702/
 (VAL) CO: The Valspar Corporation ST: Minnesota IN: SU: ERN


AL -- MN006 -- 8738 02/11/92 10:59 EST
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Publication:PR Newswire
Date:Feb 11, 1992
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