H.B. Fuller Q4 Profit Down - Quick Facts

(RTTNews) - H.B. Fuller Co. (FUL) reported that its net income attributable to the company for the fourth quarter of 2014 declined to $10.8 million, or $0.21 per share, from $21.9 million, or $0.43 per share, in last year's fourth quarter.

Adjusted earnings per share in the fourth quarter of 2014 were $0.641, down slightly versus the prior year's adjusted result of $0.681. Relative to itsguidance for the quarter, adjusted earnings per share were negatively impacted by $0.02 due to the stronger US dollar relative to the Euro and a slightly higher than expected tax rate in the quarter.

Net revenue for the fourth quarter of 2014 was $547.7 million, up 2.7 percent versus the fourth quarter of 2013. Higher volume and higher average selling prices positively impacted net revenue growth by 4.7 and 0.1 percentage points, respectively. Foreign currency translation negatively impacted net revenue growth by 2.1 percentage points. Organic revenue grew by 4.8 percent year-over-year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.64 per share and revenues of $550.40 million for the quarter. Analysts' estimates typically exclude special items.

In 2015, the company expects organic revenue growth of approximately 6 percent. Adjusted earnings per share for the 2015 fiscal year is planned at $2.60, with a plan to deliver $0.35 in the first quarter. Analysts expect the company to report earnings of $0.51 per share for the first-quarter, and $2.96 per share for fiscal 2015.

Looking ahead, the company said its long-term financial objectives remain unchanged: achieve organic revenue growth of between 5 and 8 percent per annum, increase our EBITDA margin to 15 percent, grow EPS by 15 percent per annum and increase Return on Invested Capital (ROIC) to 15 percent. Investments completed in 2014 combined with operational improvements and growth planned for 2015 will create a solid foundation to achieve its financial targets in 2016.