Net revenue for the third quarter of 2002 was $313.9 million, down less than one percent compared to the third quarter of 2001. Reduced volume and pricing accounted for a decrease of 1.5% and 1.4% respectively, while positive currency effects resulted in an increase of 2.3%, according to the company.
The global adhesives business unit’s net revenue for the quarter decreased 0.4% compared to last year’s third quarter. Volume decreased 1.4%. Operating income in global adhesives in the third quarter was $14.7 million, a decrease of $2.5 million from the third quarter of 2001.
The Full-valu/Specialty group’s net revenue decreased 0.9% in the third quarter compared to last year. Volume dropped 1.4%. Full-valu/Specialty’s operating income was $8.1 million.
Net revenue for the first nine months of 2002 was $926.6 million, a decrease of 2.6% from the first nine months of 2001. Volume and pricing were down 1.6% and