Valspar posts strong Q4 and full-year results
Minneapolis-based Valspar Corp. reported fourth-quarter net income of $51.3 million, up 2.8% from $49.9 million reported for the same period last year.
Sales for the quarter ended Oct. 29 totaled $876.8 million, a 12.9% increase from the fourth quarter of 2009.
For the full year, the company reported net income of $222.05 million, up 38.7% from $160.15 million in the prior year. Sales for the full year were $3.23 billion, up 12.1% from $2.88 billion last year.
“Our strong earnings performance for the year reflects solid volume growth driven by new business and outstanding operational discipline by Valspar employees,” said William Mansfield, Valspar chairman and CEO. “During the year we continued to invest in branding and leading-edge technologies, maintained tight control of our cost structure and strengthened our global presence.”
Looking forward, Mansfield said the company is positioned to deliver strong results in 2011, based partly on the company’s recent acquisition of Wattyl.
Automation comes to LEED green building program
The U.S. Green Building Council (USGBC), developers of the LEED green building program, has announced a new program designed to streamline and create capacity for the LEED building certification process. Called LEED Automation, the program enables users to submit documentation and certify LEED projects online through third-party technology platforms.
This marks the first time USGBC has opened LEED Online to the software application market and third-party software developers. It represents the initial step in what the USGBC said it expects will be the addition of many technology partners in the future.
Around the Web: Blowers big in Iowa
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