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Fuller’s Earnings Rise on One-Time Gain
3:25 PM MDT | September 22, 2009 | Nancy Seewald
H.B. Fuller reported third-quarter net income of $35.4 million, up 63% over the same period last year. Excluding a one-time gain of $18.8 million (24 cts/share) related to a lawsuit settlement, third-quarter earnings were 48 cts/share, well ahead of analysts’ consensus of 36 cts/share, as reported by Thomson Reuters (New York). Sales fell 13%, to $315.3 million, on volumes down 12% and unfavorable currency exchange rates, partially offset by higher average selling prices and the positive effects of acquisitions. “We are very pleased with our third...
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