H.B. Fuller’s net revenue for this year’s fourth quarter was $395.6 million, up 0.3% versus the fourth quarter last year. Fourth quarter net income was $75.7 million versus $23.3 million in last year’s fourth quarter. This year’s fourth quarter net income includes $12.3 million in charges associated with the separation agreement entered into with the company’s former chairman and CEO, $0.7 million in transaction related costs associated with the divestiture of the company’s powder coatings business and a $68.9 million gain on the sale of its powder coatings business.
For fiscal year 2006, net revenue was $1.472 billion, up 2.5% compared to last year. Net income for fiscal year 2006 was $134.7 million versus $61.6 million in fiscal year 2005.
Architectural coatings are becoming increasingly robust as we move into the 21st century. Consumers demand that coatings be more stain repellent or easy-to-clean. To meet this demand, paint companies advertise highly cleanable,…