H.B. Fuller Co. recently reported financial results for the first quarter that ended March 4, 2017. Net income for the first quarter of 2017 was $14.8 million, vs. net income of $18.9 million in last year’s first quarter.
Net revenue for the first quarter of 2017 was $503.3 million, up 6.1% vs. the first quarter of 2016. Higher volume and acquisitions reportedly had a positive impact on net revenue growth offset by negative mix and negative foreign currency translation. Constant currency revenue grew by 9.6% year over year. Organic revenue, defined as constant currency revenue, less the impact from acquisitions, was up 6%.
”We are off to a strong start for the year with good progress on both the top and bottom lines,” said Jim Owens, president and CEO. “We drove solid volume improvements with exceptional growth in the Engineering Adhesives and Asia Pacific segments, and 5% growth in our Americas segment while successfully completing the synergistic acquisition of Wisdom Adhesives. Profitability remains strong despite raw material increases which we will offset with strategic pricing initiatives in the second quarter. We expect 2017 to provide another strong positive step forward in delivering our 2020 strategic commitments for growth, profit and cash flow performance.”
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