Organic Growth Lifts Fuller's Profits

H.B. Fuller reported net income of $11 million in its fiscal second quarter ended May 29, down 38% from the same period last year. The 2010 period included costs and non-cash impairment charges related to Fuller’s exit from its polysulfide insulating glass sealant product line in Europe. Excluding those charges, earnings were 39 cts/share, compared with 36 cts/share in the year-ago period. Sales rose 16%, to $347.9 million, on higher volume, favorable foreign currency exchange rates, and acquisitions, slightly offset by lower selling prices. “In the...

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