Valspar Guides Lower

The company cites soft demand in two key product lines.
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Valspar (VAL) - Get Report expects second-quarter earnings below the current Street consensus as sales and profit are being hurt by "continued soft demand" in the company's architectural paints and wood coatings product lines.

The specialty chemicals maker said it projects earnings of 36 cents to 40 cents a share, down from 46 cents a share a year earlier.

Analysts polled by Thomson Financial expected, on average, that the company would earn 49 cents a share in the quarter.

Valspar's guidance excludes any adjustments for Huaran minority interest shares.

The company did maintain its fiscal 2007 earnings estimate of $1.80 to $1.90 a share.

Shares of Valspar were off 5.7% in recent after-hours trading to $26.51.