H.B. Fuller First Quarter Revenue up 10%
H.B. Fuller Co. recently reported financial results for the first quarter that ended March 3. Net income for the first quarter of 2012 was $15.3 million, compared to $14.4 million in last year’s first quarter. Net revenue for the first quarter was $375.3 million, up 10.5% vs. the first quarter of 2011. Higher average selling prices and higher volume positively impacted net revenue growth by 8.7 and 2.3 percentage points, respectively.
“We are off to another solid start to our fiscal year,” said Jim Owens, president and CEO. “Our teams around the world are winning with customers as we posted our ninth consecutive quarter of organic revenue growth, which included the best volume performance since the third quarter of 2010. The improvement in gross margin once again demonstrates the value we are delivering to our customers and the discipline and execution capability of the organization. Our core business is running well as we begin the process of integrating the Forbo industrial adhesives business.”
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