From Rubber & Plastics News
St Paul, Minnesota-HB Fuller Co.'s net income rose 20.5 percent to $19.5 million for its second quarter, with sales inching forward slightly to $388.5 million.
On the six-month period, profits at the adhesives supplier jumped 53.2 percent to $34.8 million, with sales dipping 0.6 percent to $736.8 million.
Chairman and ceo Al Stroucken said the maker of adhesives, sealants, coatings and other products has continued with its strategy to shift its business mix to a more profitable position, and the results reflect this. He said the firm expects raw material prices to continue climbing through the rest of this year, so Fuller "must remain focused on profitable expansion and continue to reposition the company."
Stroucken said the company stands by its prediction of posting per-share earnings of between $2.49 and $2.59 in 2006.
HB Fuller is a global supplier of adhesives and sealants, with a wide range of polyurethane-based materials in its portfolio.