HB Fuller: strong 4Q 2009 results

HB Fuller Co. announced fourth-quarter results that, said the speciality chemical manufacturer, beat expectations, moving shares higher in trading after hours.
According to the company, net income in…

HB Fuller Co. announced fourth-quarter results that, said the speciality chemical manufacturer, beat expectations, moving shares higher in trading after hours. According to the company, net income increased to USD 24.6 million or 50 cents a share, compared to a loss of USD 42.4 million or 88 cents a share in the same quarter of the previous year. Revenue dropped 2.5% compared to a year ago to USD 341.6 million, a decrease from USD 350.2 million. Gross margin increased to 31.2% in the quarter, up 630 basis points. “We are very pleased with our performance in 2009 and the steady, incremental improvements we made throughout the year. Despite persistent weak end-market demand conditions, we remained focused and determined in executing our long-term growth strategy,” said Michele Volpi, H.B. Fuller president and chief executive officer, in a statement.