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|H.B. Fuller Reports Second Quarter 2016 Results|
Second Quarter Diluted EPS
Items of Note for the Second Quarter of 2016:
Second Quarter 2016 Results:
Net revenue for the second quarter of 2016 was
During the quarter we continued to improve margins through effective management of pricing and raw material costs as well as driving efficiencies in our supply chain and operations. Gross profit margin increased 220 basis points versus the prior year. Selling, General and Administrative (SG&A) expense was up by approximately 3 percent versus last year, and up about 90 basis points as a percentage of net revenue.
”We continued to drive improvements in our business during the second quarter, in line with our strategic plan,” said
Balance Sheet and Cash Flow:
Net revenue for the first half of 2016 was
Fiscal 2016 Outlook:
Safe Harbor for Forward-Looking Statements:
1 Adjusted diluted earnings per share (EPS) is a non-GAAP financial measure and excludes the following non-recurring costs listed on the adjusted earnings per share reconciliation table above: special charges related to the “business integration”; restructuring in EIMEA related to operational efficiency improvement projects; and the start-up of a new electronics facility in Yantai China. We have not included a reconcilliation of adjusted EPS to EPS as part of our guidance because the adjustments, if any, are not known at this time.