St. Paul, MN, June 27, 2006--H.B. Fuller Co., said Tuesday its second-quarter profit grew 21 percent as cost of sales declined.
The company reported quarterly profit of $19.5 million, or 65 cents per share, compared with $16.2 million, or 56 cents per share, in the previous year's same quarter. Revenue for the quarter ended June 3 was $388.5 million versus $387.9 million the year before.
Analysts were expecting a profit of 69 cents per share.
The recent quarter's results were helped by growth in income from equity investments, which rose to $1 million from $698,000 the previous year. The company's cost of sales eased to $276.8 million from $288.4 million the year before.
The company reaffirmed its full-year earnings-per-share guidance of between $2.49 and $2.59. Analysts are looking for $2.66 per share.
