Fuller’s Earnings Decline on Higher Raw Material Costs

H.B. Fuller reported net income of $19 million for its fiscal third quarter ended August 28, down 46% from the same period last year. The 2009 period included a one-time gain of $18.8 million (24 cts/share) related to a lawsuit settlement against the former owners of Roanoke Companies Group, which Fuller acquired in 2006. Earnings were 38 cts/share, below analysts’ consensus of 44 cts/share, as reported by Thomson One (New York). Sales rose 7%, to $338.6 million, on higher volume and average selling prices, as well as acquisitions. “We faced many...

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