Nordson's Q1 Sales, Profits Jump
WESTLAKE, OH -- Nordson Corp. reported first-quarter sales rose 18% year-over-year to $221 million.
Sales were up 12% on volume and 6% on currency translation for the quarter ended Jan. 31.
The net income was $26.7 million, up from $11.2 million a year ago. Operating profit was $36 million, up 277% over a year ago.
Nordson delivered year-over-year sales increases in all three business segments and in nearly every geographic region. “We continued to see the strong return of demand in our Advanced Technology segment, where sales improved by 36% over the prior year, and operating margin reached 18%,” said chief executive Michael Hilton. “Adhesive Dispensing sales grew by 12% over the prior year, and operating margin remained very strong at 28%. Within Industrial Coating Systems, demand from consumer durable goods manufacturers remained soft, though order rates in this segment improved in the later part of the quarter.”
Nordson is parent company to EFD, Asymtek, Dage, YesTech and other electronics assembly suppliers.
Order rates for the period ended Feb. 14 rose 33% over the same period a year ago. Backlogs at the end of the first quarter were approximately $102 million, up 26% from year ago and 31% sequentially.
Nordson guided for a second-quarter sales increase of 26 to 30%
