H.B. Fuller Swings to Fourth Quarter Loss

St. Paul, MN, Jan. 20, 2009--Chemical and adhesives maker H.B. Fuller said on Monday said it posted a fourth-quarter loss from continuing operations as a widening global recession and the slump in the U.S. housing hurt demand for its products.

The loss, including charges, totaled $42 million, or $0.86 a share, compared with a year-ago profit of $30.8 million, or $0.51 a share.

Excluding items, the company posted income from continuing operations of $11.6 million, or $0.24 a share. In December, the company forecast fourth quarter revenues of about $350 million and income from continuing operations of about $0.24 a share.

For the year, net revenue was $1.392 billion, down 0.6 percent versus a year ago.

"In light of the current macro-economic environment we will have to continue to be extremely cost conscious and be ready to execute on our contingency plans if business conditions further deteriorate," said CEO Michele Volpi.