H.B. Fuller revenue increased 10 percent
H.B. Fuller Company reported net revenue for the 2017 fiscal year of $2.3 billion, up 10 percent versus the 2016 fiscal year.
Net income for the year was $58.2 million, or $1.13 per diluted share, versus $124.1 million, or $2.42, in the 2016 fiscal year.
In October 2017, the company acquired Royal Adhesives & Sealants, which had net revenue of $658 million during the 2017 fiscal year.
Net revenue for the fourth quarter of 2017 was $678.2 million, up 18 percent versus the fourth quarter of 2016. Net loss for the fourth quarter of 2017 was $7.6 million, or a loss of 15 cents per diluted share, versus net income of $39.1 million, or 76 cents, in last year’s fourth quarter.
“We had continued strong revenue performance and excellent cash flow performance in the fourth quarter as organic growth was again very strong,” said Jim Owens, president and chief executive officer. “The pricing actions we implemented early in the year had a positive impact on our margins, however, as a result of Hurricane Harvey and continued environmental controls in China, raw materials continued to increase during the fourth quarter. We have implemented additional pricing actions that will offset inflation in the first half of 2018."
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.
