Fuller H B Co (FUL) has reported a 19.86 percent rise in profit for the quarter ended May 30, 2015. The company has earned $24.62 million, or $0.48 a share in the quarter, compared with $20.54 million, or $0.40 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $32.22 million, or $0.63 a share compared with $40.12 million or $0.78 a share, a year ago. Revenue during the quarter went down marginally by 0.60 percent to $540.76 million from $544.03 million in the previous year period. Gross margin for the quarter expanded 132 basis points over the previous year period to 27.54 percent. Total expenses were 91.35 percent of quarterly revenues, down from 94.02 percent for the same period last year. This has led to an improvement of 267 basis points in operating margin to 8.65 percent.
Operating income for the quarter was $46.78 million, compared with $32.54 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $73.38 million compared with $73.82 million in the prior year period. At the same time, adjusted EBITDA margin was almost stable in the quarter to 13.57 percent when compared with the last year period.
"Our organization has driven many positive developments in the first half of this year," said Jim Owens, H.B. Fuller president and chief executive officer. "The newly-acquired Tonsan business is meeting all of our expectations to date and is already helping to improve the overall profit profile of our Asia Pacific operating segment. Our Construction Products segment continues to benefit from new product introductions and meaningful share gains, which have driven a substantial improvement in profitability."
Fuller H B Co expects revenue to be $2,100 million for fiscal year 2015. For fiscal year 2015, the company expects diluted earnings per share to be $2.45 on adjusted basis.
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