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H.B. Fuller Net Income Rises, Beats Estimates

4:30 PM MDT | March 28, 2012 | Vincent Valk

H.B. Fuller’s fiscal first-quarter net income rose 6% year-on-year, to $15.3 million, or 30 cts/share, on net revenue up 11%, to $375.3 million. Excluding charges related to the acquisition of Forbo’s industrial adhesives business, which closed on March 5, adjusted earnings per share (EPS) 52%, to 44 cts/share. Adjusted EPS beat analysts estimates of 37 cts/share, as reported by Thomson Reuters (New York).   Revenue growth was driven mostly by higher selling prices, though higher volumes also contributed partially. Gross profit margins rose due...

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