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Q1 highlights included: Business integration project remains on track; adjusted diluted EPS from continuing operations of US$0.491 was up 20% yr-on-yr; net revenue was up 39%, organic revenue was up 3% yr-on-yr; Selling, General and Administrative (SG&A) expense was down 140 basis points as a percentage of net revenue yr-on-yr; Regional operating income2 increased 29% yr-on-yr.
"We are off to a solid start to a very important year for HB Fuller,” said Jim Owens, HB Fuller President and CEO. "We grew our business in the quarter and achieved our plans for operating profit despite a lacklustre economic environment in most parts of the world. Our business integration project remains on track to deliver the committed benefits on time and on budget. Our guidance remains unchanged for the fiscal year and we are on target to deliver another successful year in 2013.”
