Earnings Roundup: FUL, GCOM
Monday, September 13, 2021 6:33 PM

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HB Fuller Co. (NYSE: FUL) on Monday posted smaller-than expected third quarter profit as margins were hurt by higher raw material costs. Net income declined to $19.0 million, or 38 cents per share, from $35.4 million, or 72 cents per share, in the prior-year quarter. Net Income for the third quarter of 2009 included a significant one-time gain related to the settlement of a lawsuit. Revenue rose to 7.4% to $338.6 million from $315.3 million in the same quarter last year.  Analysts, on average, expect the company to report earnings of 44 cents per share on revenue of $348.50 million. Looking ahead to the fourth quarter, the company expects net revenue between $360 million and $365 million. Analysts currently expect revenues of $362.04 million. For fiscal 2010, the company now anticipates net revenue between $1.356 billion and $1.361 billion, up about 10 percent from last year. Analysts currently expect revenues of $1.37 billion for the year. Shares of the company slumped more than 6% in after-hours trading.

Globecomm Systems Inc. (NASDAQ: GCOM) said that its fiscal fourth-quarter net income climbed to $4.0 million, or 19 cents per share, from $1.0 million, or 5 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 12 cents per share in the latest quarter. Revenue jumped 42.7% to $70.3 million from $49.2 million last year. Analysts, on average, expected the company to report earnings of 14 cents per share on revenue of $67.00 million.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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