ST. PAUL, Minn. (Jan. 14)—H.B. Fuller Co. posted higher results for both its fiscal fourth quarter and full year despite the effects of intensive price competition and increased raw material costs.
Net income for the year ended Nov. 29 jumped 37.1 percent to $38.6 million as sales inched up 2.5 percent to $1.29 billion. For the quarter, profits gained 28.4 percent to $13.3 million, with sales growing 5 percent to $346.2 million.
Sales growth in Latin America and Asia/Pacific, combined with an improved economy in North America, "should allow us to better exploit our underlying strengths and improved financial fundamentals in 2004," said CEO Al Stroucken.