H.B. Fuller Co. recently reported financial results for the fourth quarter that ended December 3, 2016.
Net income for the fourth quarter of 2016 was $39.1 million vs. net income of $25 million in last year’s fourth quarter. Net revenue for the fourth quarter of 2016 was $574.9 million, up 4.9% compared to the fourth quarter of 2015.
Net income for the 2016 fiscal year was $124.1 million vs. income from continuing operations of $88.4 million in the 2015 fiscal year. Net revenue for the 2016 fiscal year was $2,094.6 million, up 0.5% compared to the 2015 fiscal year.
“We delivered on our strategic and financial commitments in the 2016 fiscal year and are positioned for further success in 2017,” said Jim Owens, president and CEO. “We delivered double digit sales growth in engineering adhesives, we dramatically improved the Middle-East and Africa margin profile and we returned to volume growth in Americas adhesives. The net result was an improvement of consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) margin by 60 basis points, 14% growth in adjusted earnings per share and strong operating cash flow–all in-line with our initial guidance for the year. Our plan for 2017 reflects double digit earnings improvement as a result of constant currency revenue growth and continued margin expansion. The 2017 fiscal year will be another year of strong progress toward our 2020 strategic targets of 17% EBITDA margin, sizable operating cash flow and solid organic growth.”
For more information, visit www.hbfuller.com.