H.B. Fuller Earnings Fall on Forbo Acquisition Charges

H.B. Fuller reported net income of $1.9 million, or 4 cts/share, for the quarter ended June 2 versus net income of $25.1 million, or 50 cts/share in the year-ago quarter. Fuller says that adjusted total diluted earnings excluding charges was 56 cts/share for the quarter, up 12% from the prior year. Charges included 47 cts/share related to its acquisition of Swiss Forbo Holding AG’s industrial adhesives business, and 5 cts/share related to inventory step-up costs. Sales, exluding the Latin America paints business, grew 43% year-on-year, to $527 million. The...

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