Q3FY16 net soars 22% at adhesives producer HB Fuller
September 24, 2016 - United States Of America
For the three months period ended August 27, 2016, net income at adhesives producer HB Fuller soared 22 per cent, from a fiscal ago quarter to $32.7 million, or $0.64 per diluted share. Adjusted diluted earnings per share in the third quarter of fiscal 2016 totaled $0.641, up 5 per cent compared to $0.611 in the prior fiscal’s third quarter.
Net revenue in the reporting quarter amounted to $512.9 million, a year over year drop of 2.2 per cent, driven down by the impact of lower average selling prices and negative foreign currency translation.
Gross profit margin in the third quarter of current fiscal stood at 28.5 per cent, an expansion of 50 basis points over the corresponding quarter of fiscal 2015, reflecting effective management of pricing and raw material costs.
The company narrowed its adjusted EPS guidance range to $2.45 to $2.50 for the full fiscal as against the previous guidance of for 2016 adjusted EPS was $2.45 to $2.60 per share. (AR)
Net revenue in the reporting quarter amounted to $512.9 million, a year over year drop of 2.2 per cent, driven down by the impact of lower average selling prices and negative foreign currency translation.
Gross profit margin in the third quarter of current fiscal stood at 28.5 per cent, an expansion of 50 basis points over the corresponding quarter of fiscal 2015, reflecting effective management of pricing and raw material costs.
The company narrowed its adjusted EPS guidance range to $2.45 to $2.50 for the full fiscal as against the previous guidance of for 2016 adjusted EPS was $2.45 to $2.60 per share. (AR)