HB Fuller Q3 Adj. Profit Tops View; Lifts Lower End Of FY13 EPS Outlook

(RTTNews) - HB Fuller Co. (FUL) Wednesday reported third-quarter net income attributable to H.B. Fuller of $28.3 million or $0.55 per share, compared to $83.3 million, or $1.64 per share in the same comparable quarter last year.

Income from continuing operations totaled $27.2 million or $0.53 per share, compared to $24.6 million or $0.48 per share in the year-ago period.

Adjusted earnings from continuing operations rose to $0.74 from $0.53 per share last year. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.67 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues rose 2.8 percent to $514.58 million from $500.54 million last year, while five analysts expected revenues of $508.84 million for the quarter.

Looking ahead to the fourth quarter, the company expects earnings in the range of $0.70 to $0.75 per share. Analysts expect earnings of $0.74 per share for the fourth quarter.

For the fiscal year 2013, the company has narrowed earnings guidance to a range of $2.60 to $2.65 per share. Earlier, the company expected earnings of $2.55 to $2.65 per share. Analysts expect full-year earnings of $2.56 per share.