| Nordson Q2 Sets Profit Record |
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| Written by Mike Buetow | |||
| Friday, 20 August 2010 07:42 | |||
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WESTLAKE, OH -- Nordson reported record third-quarter net income of $55 million, up 130% year-over-year. Sales also improved strongly over the same period a year ago as the equipment supplier rebounded from the 2009 recession. For the quarter ended July 31, sales were $279 million, up 35% over sales in the prior year’s third quarter. Operating profit was $68 million, also a record. Sales increased year-over-year in all three business segments for the third consecutive quarter and in every geographic region for the second consecutive quarter. “Every segment continued to secure returning worldwide demand and deliver increasingly profitable results,” said chief executive Michael Hilton. The company's Advanced Technology segment, which includes Asymtek, EFD, Dage, YesTech, and other leading electronics manufacturing suppliers, saw strong demand though the pace of growth moderated slightly. Sales volume increased 56% and operating margin improved to 26%. Backlog at quarter's end was approximately $139 million, up 45% compared to a year ago and 5% sequentially. The company guided for fourth-quarter sales of $283 million to $293 million, up 22% to 26%.
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| Last Updated on Friday, 20 August 2010 07:53 |
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