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Wednesday A.M. Report

Foreign sales boost H. B. Fuller’s Q2, Apogee reports weak results and expects loss for year, Medtronic reiterates guidance, and Minneapolis senior housing project to break ground.

Foreign sales boost H. B. Fuller’s Q2: H.B. Fuller Co. reported net income in its fiscal second quarter of $11 million, or 22 cents per diluted share, down 59 percent from $17.6 million, or 36 cents per diluted share, in last year’s second quarter. But after adjusting for one-time items related to the company’s exit of an insulating glass sealing product line, Fuller said second-quarter net income would have been $19.5 million, or 39 cents per share. Read full story

Apogee reports weak results in Q1, now expects loss for year: Apogee Enterprises, a Bloomington-based glass manufacturer and installer, reported weak results in its fiscal first quarter of 2011. First-quarter revenue was $143 million for the quarter, down 21 percent from $181 million in the comparable period last year. Revenue from the company’s dominant division, architectural products and services, fell 24 percent to $126.4 million because of price pressure from the struggling construction industry. Read full story

Medtronic reiterates guidance: Medtronics reiterated its guidance for the first fiscal quarter, which ends July 30. The company said at an investor conference in Boston that it expects revenue of $3.86 billion to $3.96 billion and earnings per share in the quarter of 79 to 81 cents. Read full story

Minneapolis senior housing project to break ground Thursday: A Minnetonka developer will break ground Thursday on The Waters Senior Living of Minnehaha in Minneapolis. The $15 million, four-story brick building includes 77 apartments, 63 assisted living residences, seven memory care apartments and seven private care suites. Read full story