Global adhesives provider HB Fuller has posted a net income of $23.2m for the third quarter of fiscal year 2011, up from $19m in the previous year.
The company said its revenue got a boost from higher average selling prices and favourable currency conversion, even though those gains were partly offset by lower revenue growth.
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Net income for the first nine months of 2011 stood at $62.7m, compared to $48.9m in the first nine months of fiscal 2010.
The company’s net revenue for the quarter increased by 14.5% to $387.8m, compared with the third quarter of 2010.
Net revenue during the period increased by 12.6% to $1,121m, compared against the first nine months of last year.
HB Fuller president and CEO Jim Owens said that despite continuing challenges in end-market conditions, the company expects a strong fourth quarter, built on further revenue growth and margin expansion.
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