Q1FY18 net income slips at adhesives maker H.B. Fuller
For the three months ended March 4, 2017, net income at global adhesives producer H.B. Fuller Company slipped to $14.8 million, or $0.29 per diluted share as against net income of $18.9 million, or $0.37 per diluted share in the prior fiscal's first quarter. Adjusted EBITDA for the reporting quarter was $58.9 million, or 11.7 per cent of net revenue.
In the first quarter of fiscal 2018, net revenue grew 6.1 per cent over a fiscal ago quarter to $503.3 million, primarily driven by higher volume and acquisitions. Net revenue in constant currency rose 9.6 per cent year over year, while organic revenue increased 6 per cent.
In the quarter under review, gross profit margin stood at 27.6 per cent and adjusted gross profit margin was 28.6 per cent, in line with expectations and a decrease of 80 basis points versus the earlier fiscal's same quarter. (AR)
Fibre2Fashion News Desk – India