H.B. Fuller Co. (FUL: Quote) reported that its fourth-quarter net income from continuing operations rose to $25.0 million or $0.49 per share from $22.2 million or $0.45 per share in the prior year quarter.
Adjusted total earnings per share from continuing operations were $0.64, up 14 percent from the prior year’s $0.56 and up 23 percent on a comparable 13 week basis.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts’ estimates typically exclude special items.
Quarterly net revenue was $513.3 million, up from $401.55 million from the previous year quarter. Five analysts had consensus revenue estimate of $517.45 million for the quarter.
Looking ahead, the company expects 2013 adjusted earnings in range of $2.55 to $2.65 per share. Analysts expect the company to report earnings of $2.60 per share for fiscal 2013.
The EBITDA margin goal for 2013 is 12.5 percent, up approximately 100 basis points relative to the 2012 fiscal year and on track to achieve the 15 percent margin target for 2015.
The company’s earlier projections of $195 million of capital expenditures over the three years of the business integration project, or a total of about $250 million of capital expenditures over the fiscal years 2012 through 2015, are confirmed.
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by RTT Staff Writer
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