H.B. Fuller sales and earnings decline
H.B. Fuller Company reported net revenue for the second quarter of 2015 was $540.8 million, down 0.6 percent versus the second quarter of 2014.
Higher volume and higher average selling prices positively impacted net revenue growth by 5.5 and 0.9 percentage points, respectively. Foreign currency translation negatively impacted net revenue growth by 7.0 percentage points. Constant currency revenue grew by 6.4 percent year-over-year.
Income from continuing operations was $26.5 million, or 51 cents per diluted share, versus income of $20.6 million, or 40 cents, in last year's second quarter. Adjusted diluted earnings per share in the second quarter of 2015 were 63 cents, down versus the prior year's adjusted result of 78 cents.
"Our organization has driven many positive developments in the first half of this year," said Jim Owens, H.B. Fuller president and chief executive officer. "The newly-acquired Tonsan business is meeting all of our expectations to date and is already helping to improve the overall profit profile of our Asia Pacific operating segment. Our Construction Products segment continues to benefit from new product introductions and meaningful share gains, which have driven a substantial improvement in profitability."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
