Fuller’s Earnings Down on Slow Economy

H.B. Fuller reported net income from continuing operations for its fiscal first quarter ended March 1 down 3%, to $18.2 million (32 cts/share), on sales down 3%, to $323 million. “The economic slowdown and raw material cost inflation had a negative impact on the financial performance of the business, but this was almost completely offset by continued cost controls and lower interest expense,” Fuller says. Lower volumes slowed sales growth by 8 percentage points, Fuller says. That was partially offset by favorable currency exchange rates, which contributed 4.4...

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