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H.B. Fuller 2012 Revenue Up 30.6%

February 4, 2013
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H.B. Fuller Co. recently reported financial results for the fourth quarter that ended December 1, 2012. Net income from continuing operations for the fourth quarter of 2012 was $25 million, compared to net income from continuing operations of $22.2 million in last year’s fourth quarter.

Net revenue for the fourth quarter of 2012 was $513.3 million, up 27.8% vs. the fourth quarter of 2011. Year-over-year growth was approximately 35% when adjusting for the extra week in the prior year. When excluding the incremental revenue from the acquired Forbo business, net revenue was reportedly flat, representing 3% organic growth offset by three percentage points of unfavorable foreign currency translation. The organic growth was comprised of a 1% increase in price and 2% growth in volume.

Net income from continuing operations for the 2012 fiscal year was $68.3 million, compared to $80.2 million in the 2011 fiscal year. Adjusted total diluted earnings per share from continuing operations in the 2012 fiscal year were $2.201, up 28% from the prior year’s adjusted result of $1.721.

Net revenue for the 2012 fiscal year was $1,886.2 million, up 30.6% vs. the 2011 fiscal year. Year-over-year growth was approximately 33% when adjusting for the extra week in the prior year. When excluding the incremental revenue from the acquired Forbo business, net revenue grew 3%, representing 6% organic growth offset by three percentage points of unfavorable foreign currency translation. The organic growth was comprised of a 5% increase in price and 1% growth in volume.

“This has been a transformative year for H.B. Fuller,” said Jim Owens, president and CEO. “While working to complete the acquisition of the industrial adhesives business from the Forbo Group and the divestiture of the Central America Paints business, our teams kept the momentum going.”

For additional information, visit www.hbfuller.com.

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