H.B. Fuller Sees Revenue Growth in Third Quarter
H.B. Fuller Co. recently reported financial results for the third quarter that ended August 31, 2013. Net income from continuing operations for the third quarter of 2013 was $27.2 million, vs. net income from continuing operations of $24.6 million in last year’s third quarter.
Net revenue for the third quarter of 2013 was $514.6 million, up 2.8% compared to the previous year’s third quarter. Higher volume, higher average selling prices and positive foreign currency translation reportedly positively impacted net revenue growth by 1.4, 0.1 and 1.3 percentage points, respectively.
“Our third quarter results showed strong progress toward our 2015 strategic goals,” said Jim Owens, president and CEO. “We got our revenue growth moving in the right direction and managed our margins and discretionary spending to deliver our commitments for operating profit growth. At the same time we successfully completed major milestones in our European business integration project, keeping us on track to fully deliver the planned financial and strategic benefits from this investment. We have momentum for a strong fourth quarter and to complete another successful, transformational year as part of our current five-year plan.”
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