ST. PAUL, Minn. -- H.B. Fuller Co. has reported net earnings for the fourth quarter ended
Dec. 2, 2000 of $14.3 million or $1.01 per share (diluted). Last year's fourth quarter net earnings were $18.8 million or $1.34 per share (diluted), excluding nonrecurring restructuring charges and the effects of an accounting change. The reduction in earnings was mainly caused by the increased cost of raw materials and the continued weakness of the Euro.
"This
quarter continued to present us with challenges in the areas of raw material costs, competitive pricing and slowing demand,” said Al Stroucken, chairman, president and CEO. “We believe that these difficult conditions will persist well into the new year and will require us to be steadfast in our drive to recover margins while maintaining our customers' loyalty."