H.B. Fuller sales up 4.9 percent
H.B. Fuller Company reported net revenue grew 4.9 percent to $574.9 million in the fourth quarter of 2016 versus the fourth quarter of 2015.
The Engineering Adhesives and Asia Pacific segments delivered double digit revenue and volume growth, and the Americas and EIMEA segments showed expected solid revenue and volume growth.
Net income for the quarter was $39.1 million, or 76 cents per diluted share, versus net income of $25.0 million, or 49 cents, in last year’s fourth quarter.
Net income for the 2016 fiscal year was $124.1 million, or $2.42 per diluted share, versus income from continuing operations of $88.4 million, or $1.71 per diluted share, in the 2015 fiscal year.
Net revenue for the 2016 fiscal year was $2.09 billion, up 0.5 percent versus 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, H.B. Fuller president and chief executive officer. “We delivered double digit sales growth in Engineering Adhesives, we dramatically improved the EIMEA margin profile and we returned to volume growth in Americas Adhesives."