H.B. Fuller reported fourth-quarter results Thursday that met analysts’ expectations, welcome news to investors who have watched the stock price struggle through the last year.
Net income more than doubled to $25 million, or 49 cents per share, on revenue of $548 million.
Excluding one-time items, profit amounted to 69 cents per share, which matched the average expected by Wall Street. Revenue was nearly flat from the same quarter a year ago but exceeded expectations by $7 million.
The St. Paul-based company, a maker of adhesives used in industries ranging from automotive to consumer packaging, forecast a 4 percent jump in revenue for 2016, not adjusting for currency translations. Executives expect the strong U.S. dollar to reduce revenue by 3 percent.
Fuller executives said solid growth is expected in Asia and in the company’s construction products segment there.
The Europe and America adhesives divisions are expected to return to low single-digit growth this year, excluding currency translations. The company’s full-year adjusted earnings are expected to reach $290 million, excluding one-time items.
H.B. Fuller’s stock rose more than 6 percent Thursday to close at $34.88.