H.B. Fuller Co. (NYSE: FUL), St. Paul, MN, reported sales for the first quarter ended Feb. 27, 2010, were $309.4 million, an increase of 11.1% versus first quarter 2009. Organic sales grew by 6.1%.
Profit for the manufacturer of adhesives, sealants, paints and other specialty chemical products was $19 million, compared to $6.1 million in the same period a year ago.
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\”In the first quarter, our organic growth trend reversal continued and culminated in a return to positive organic growth which, coupled with strong margin management, delivered the highest first quarter earnings per share result in recent history,\” said Michele Volpi, president and CEO. \”Certainly, the bold moves that H.B. Fuller has taken over the past few quarters, regarding geographic expansion, raw material cost management, talent acquisition and development, as well as customer satisfaction, have positioned our company for strong results as we move through 2010 and beyond.\”
During the quarter, H.B. Fuller agreed to acquire Revertex Finewaters in Malaysia to expand its geographic presence in Southeast Asia.
