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Fuller net income falls despite revenue increase

1:34 PM MDT | March 27, 2014 | Vincent Valk

H.B. Fuller today reported fiscal first-quarter net income down 29.4% year-on-year (YOY), to $24.6 million, or 28 cts/share, on revenues up 1.3%, to $486 million. Higher volume increased revenue growth by 2%, while organic revenue was also up by 2%. Excluding special charges, adjusted net income was flat YOY, at 49 cts/share. Fuller's fiscal first-quarter ended on 1 March. "During the first quarter, we hit a number of key milestones on our transformation programs, and we remain on track toward hitting our goal of 15% Ebitda margin in 2015 while still...

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