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VALSPAR REPORTS THIRD QUARTER RESULTS

 VALSPAR REPORTS THIRD QUARTER RESULTS
 MINNEAPOLIS, Aug. 10 /PRNewswire/ -- The Valspar Corporation


(AMEX: VAL), a major coatings company, reported earnings for the third quarter ended July 24, 1992, increased 24 percent to $11,404,000 or $.52 per share compared with $9,212,000 or $.42 per share last year. The per share numbers have been restated to reflect the 2-for-1 stock split effected on March 9, 1992. Sales for the quarter increased 6.9 percent to $190,108,000 versus $177,816,000 a year ago, with acquisitions accounting for 1.5 percent of the increase.
 For the first nine months, net income increased 34 percent to $24,160,000 or $1.10 per share from $17,965,000 or $.82 per share a year ago. Sales for the first nine months were up 8.1 percent to $498,852,000 versus $461,645,000 last year, with acquired businesses accounting for 3.1 percent of the increase.
 C. Angus Wurtele, Valspar's chairman, stated, "We believe that the economy should maintain its modest recovery and that Valspar's results will continue to improve, though not at the current rate due to the strength of our fourth quarter last year."
 THE VALSPAR CORPORATION
 COMPARATIVE RESULTS
 (Unaudited)
 (In thousands, except per-share data)
 Third Quarter Ended Nine months Ended
 7/24/92 7/26/91 7/24/92 7/26/91
 Net sales $190,108 $177,816 $498,852 $461,645
 Cost of sales 136,542 128,551 360,718 338,523
 Operating expenses 33,954 32,732 95,482 88,981
 Operating profit 19,612 16,533 42,652 34,141
 Interest expense 847 1,377 2,412 4,614
 Other income
 (expense) - net 85 70 (306) 167
 Income before
 income taxes 18,850 15,226 39,934 29,694
 Income taxes 7,446 6,014 15,774 11,729
 Net income 11,404 9,212 24,160 17,965
 Net income
 per common share .52 .42(a) 1.10(a) .82(a)
 Average number
 of shares
 outstanding 2,032,411 21,855,000(a) 22,021,550(a) 21,863,524(a)
 (a) Adjusted to reflect 2-for-1 stock split on March 9, 1992
 -0- 8/10/92
 /CONTACT: Paul C. Reyelts of Valspar, 612-375-7702/
 (VAL) CO: The Valspar Corporation ST: Minnesota IN: SU: ERN


RW-KH -- MN009 -- 8536 08/10/92 13:04 EDT
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Publication:PR Newswire
Date:Aug 10, 1992
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