Posted January 20, 2011
H.B. Fuller sales rise, income falls
Adhesives manufacturer H.B. Fuller Company reported fourth quarter net revenue of $360.2 million, up 5.5 percent versus the fourth quarter of 2009.
Net income was $21.9 million, or 44 cents per diluted share, versus $24.6 million, or 50 cents per diluted share, in last year's fourth quarter.
For fiscal 2010, net revenue was $1.356 billion, up 9.8 percent versus fiscal year 2009. Net income for the year 2010 was $70.9 million, or $1.43 per diluted share, versus $83.7 million, or $1.70 per diluted share, in 2009.
"Our focus in 2011 will be on accelerating the execution of our current business strategy and leveraging key investments made over the last two years," said Jim Owens, H.B. Fuller president and chief executive officer. "The growth momentum that started in 2010 should carry over to 2011. In addition, past and current pricing actions should enhance our margins."
