Valspar Updates Outlook

The Valspar Corp, a Minneapolis MN-based coatings manufacturer, expects fully diluted earnings for the fourth quarter ended Oct 26, 2001, to be in the range of 46 to 50 cents per share excluding the restructuring charges previously announced. Fully diluted earnings per share before restructuring charges for the 2001 fiscal year are expected to be in the range of $1.56 to $1.60. In the fourth quarter and fiscal year 2000, Valspar earned 56 cents and $2 per share, respectively.

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