HB Fuller Co. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 3, 2016. For the quarter, the company reported net revenue of $574,907,000 compared to $548,104,000 a year ago. Income from continuing operations before income taxes and income from equity method investments was $51,879,000 compared to $44,677,000 a year ago. Net income attributable to the company was $39,134,000 compared to $24,991,000 a year ago. Diluted net income per share attributable to the company was $0.76 compared to $0.49 per diluted share a year ago. Adjusted net income attributable to the company was $37,910,000 or $0.74 per diluted share compared to $35,170,000 or $0.69 per diluted share a year ago. Adjusted income before income taxes and income from equity method investments was $51,816,000 compared to $52,220,000 a year ago. EBITDA was $81,772,000 compared to $71,747,000 a year ago. Adjusted EBITDA was $79,754,000 compared to $79,151,000 a year ago. Cash flow from operating activities was $50 million in the fourth quarter, driven by solid net income; fiscal year 2016 cash flow from operations was $195 million. Capital expenditures were $14 million in the fourth quarter.

For the full year, the company reported net revenue of $2,094,605,000 compared to $2,083,660,000 a year ago. Income from continuing operations before income taxes and income from equity method investments was $167,425,000 compared to $138,345,000 a year ago. Income from continuing operations was $124,382,000 or $2.42 per diluted share compared to $88,397,000 or $1.71 per diluted share a year ago. Net income attributable to the company was $124,128,000 or $2.42 per diluted share compared to $86,680,000 or $1.69 per diluted share a year ago. Adjusted net income attributable to the company was $127,013,000 or $2.48 per diluted share compared to $111,411,000 or $2.17 per diluted share a year ago. Adjusted income before income taxes and income from equity method investments was $171,966,000 compared to $165,711,000 a year ago. Adjusted income from continuing operations was $127,267,000 compared to $11,828,000 a year ago. EBITDA was $279,850,000 compared to $245,375,000 a year ago. Adjusted EBITDA was $280,943,000 compared to $267,827,000 a year ago.

For the year 2017, the company is adjusted EPS guidance range of $2.57 to $2.77. The mid-point of the adjusted EPS range represents 10% earnings growth versus a comparable 52 week year in 2016 as communicated in December. Constant currency growth, on a comparable 52 week basis, is expected to be around 4% for 2017 versus the 2016 fiscal year, which will be offset by 3 percentage points of negative foreign currency translation. It expects to deliver adjusted EBITDA margin of approximately 14%, reflecting approximately $290 million of adjusted EBITDA in 2017. Core tax rate, excluding the impact of discrete items, is expected to be about 30%. The company expects to invest approximately $60 million in capital items in 2017. This guidance excludes approximately $18 million of previously announced pre-tax restructuring charges as well as other unusual items.