The Valspar Corporation (NYSE:VAL) reported its results for the third-quarter ended July 29, 2011. Third-quarter sales totaled $1.07 billion, a 22.5 percent increase from the third quarter of 2010. Third-quarter adjusted net income per share increased to $0.80 in 2011, a 14.3 percent increase from $0.70 in 2010. Third-quarter adjusted net income per share in 2011 excludes a $0.10 per share restructuring charge. Third-quarter adjusted net income per share for 2010 excludes $0.08 per share gain on the sale of assets and a $0.04 per share restructuring charge. Net income for the third quarter of 2011 was $67.4 million and reported earnings per share were $0.70. Net income for the third quarter of 2010 was $75.1 million and reported earnings per share were $0.74.


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