Net income in three months ended December 3, 2016, at global adhesives supplier H.B. Fuller Company soared 56.4 per cent to $39.1 million, or $0.76 per diluted share as against net income of $25.0 million, or $0.49 per diluted share in the prior fiscal’s same quarter. Adjusted diluted earnings per share were $0.741, or up 7 per cent year over year.
In the fourth quarter of fiscal 2016, net revenue rose 4.9 per cent over a fiscal ago quarter to $574.9 million, driven by higher volume and mix and an extra week, while revenue on a constant currency basis rose 5.4 per cent.Net income in three months ended December 3, 2016, at global adhesives supplier H.B. Fuller Company soared 56.4 per cent to $39.1 million, or $0.76 per diluted share as against net income of $25.0 million, or $0.49 per diluted share in the prior fiscal's same quarter. Adjusted diluted earnings per share were $0.741, or up 7 per cent year over year.#
However, lower average selling prices and negative foreign currency translation negatively impacted net revenue growth by 2.4 and 0.5 per cent, respectively.
Gross profit margin in the reporting quarter stood at 29.2 per cent, which showed an improvement of 60 bps, through effective management of pricing and raw material costs and discretionary expenses.
Adjusted EBITDA in the quarter under review amounted to $79.8 million, or 13.9 per cent of net revenue. (AR)
Fibre2Fashion News Desk – India
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