H.B. Fuller Company (FUL) has reported 56.59 percent jump in profit for the quarter ended Dec. 03, 2016. The company has earned $39.13 million, or $0.76 a share in the quarter, compared with $24.99 million, or $0.49 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $37.91 million, or $0.74 a share compared with $35.17 million or $0.69 a share, a year ago.

Revenue during the quarter grew 4.89 percent to $574.91 million from $548.10 million in the previous year period. Gross margin for the quarter expanded 72 basis points over the previous year period to 29.19 percent. Total expenses were 89.65 percent of quarterly revenues, down from 90.26 percent for the same period last year. This has led to an improvement of 62 basis points in operating margin to 10.35 percent.

However, the adjusted EBITDA for the quarter stood at $79.75 million compared with $79.15 million in the prior year period. At the same time, adjusted EBITDA margin contracted 57 basis points in the quarter to 13.87 percent from 14.44 percent in the last year period.
 

"We delivered on our strategic and financial commitments in the 2016 fiscal year and are positioned for further success in 2017," said Jim Owens, H.B. Fuller president and chief executive officer. "We delivered double digit sales growth in Engineering Adhesives, we dramatically improved the EIMEA margin profile and we returned to volume growth in Americas Adhesives. The net result was an improvement of consolidated EBITDA margin by 60 basis points, 14 percent growth in adjusted earnings per share and strong operating cash flow ��" all in-line with our initial guidance for the year."
 

For fiscal year 2017, the company expects diluted earnings per share to be in the range of $2.57 to $2.77 on adjusted basis.