H.B. Fuller reports second quarter 2010 results
H.B. Fuller Co., St. Paul, Minn., today reported financial results for the second quarter that ended May 29, 2010, according to a June 22 release.
Second quarter 2010 highlights included:
- Net revenue totaled $347.9 million, up 16 percent year-over-year and 12 percent sequentially;
- Investments for growth continued to create momentum within the organization, helping to drive volume growth of 13.7 percent and organic growth of 13.0 percent year-over-year;
- Asia Pacific and EIMEA achieved exceptional sales growth, as both segments increased organic sales by 18 percent year-over-year;
- Construction Products in North America grew organic sales 18.6 percent year-over-year as a result of new business wins and expanded customer relationships;
- Adjusted gross margin2 remained at historically high levels, 29.6 percent in the second quarter and 30.5 percent in the first half;
- Adjusted diluted EPS1 grew to $0.39, an increase of more than 8 percent year-over-year;
- The growth and profitability profile of EIMEA was enhanced by exiting the polysulfide-based insulating glass product line in Europe.
Read the full release.