Posted June 23, 2010
H.B. Fuller Co. revenues up 16 percent
H.B. Fuller Company reported that its net revenue totaled $347.9 million, up 16 percent year-over-year and 12 percent compared to last quarter.
Net income for the second quarter of 2010 was $11.0 million, or 22 cents per diluted share, versus $17.6 million, or 36 cents per diluted share, in last year's second quarter.
"We are very pleased with our performance in the second quarter and the progress we are making in improving our growth profile. In the second quarter, our organic sales trend continued to strengthen and organic sales expanded twice as fast as in the previous quarter," said Michele Volpi, H.B. Fuller president and chief executive officer. "H.B. Fuller has not achieved this level of growth in a very long time. After several years of declines in organic sales, we are pleased to be on the path towards generating consistent positive organic growth."
In North America, net revenue grew by 11.7 percent year-over-year with adhesives up 9.7 percent and construction products up 18.6 percent. Nearly all of the growth for the segment was organic. Improved end-market demand, new customer wins, and expanded customer share in construction-related markets led to the strong growth in net revenue.
