H.B. Fuller Reports Lower Income, Higher Sales

St. Paul, MN, Jan. 12, 2011 -- Adhesives maker H.B. Fuller Company reported fourth quarter net income of $21.9 million, or $0.44 per share, versus $24.6 million, or $0.50 per share, a year ago.

Net revenue increased 5.5% year-over-year to $360.2 million. The company cited higher average selling prices, higher volume, and acquisitions for the increase.

Foreign currency translation reduced net revenue growth by 1.6 percentage points. Compared to the third quarter, net revenue increased over 6%.

Net income for fiscal year 2010 was $70.9 million, or $1.43 per share, versus $83.7 million, or $1.70 per  share, in 2009.

Net revenue for the year was $1.356 billion, up 9.8% versus fiscal year 2009.