H.B. Fuller reports second quarter 2010 results

Glass Magazine
June 23, 2010
COMMERCIAL, RETAIL, FABRICATION

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.