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H.B. Fuller earnings fall short of estimates

4:20 PM MST | January 15, 2014 | Vincent Valk

H.B. Fuller today reported fiscal fourth-quarter earnings down 12% year-on-year (YOY) to $22 million, or 43 cts/share, on revenues up 4%, to $533.5 million. Excluding special charges, mostly related to integrating former Forbo businesses, adjusted earnings totaled 68 cts/share, up 6% YOY but short of analysts’ consensus estimate of 75 cts/share, as reported by Thomson Reuters. Earnings fell largely due to a decline in gross margins, the company says. Fuller’s fiscal fourth-quarter ended on 30 November 2013. Overall quarterly revenues were hit by lower...

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