WESTLAKE, OHIO – Nordson today reported fiscal fourth quarter sales of $574 million, up 13% year-over-year.
Organic volumes rose 2%, first year effect of acquisitions added 10%, currency translation added 1% of the increase.
Operating profit for the the quarter ending Oct. 31 was $125 million, up from $111 million, and net income rose $4 million to $80 million. Fourth quarter EBITDA increased 17% over the prior year to $150 million.
“Nordson delivered strong results in the quarter against very challenging prior year comparisons where total company organic sales growth was 13%,” said Michael Hilton, Nordson president and chief executive. “Driven largely by robust demand in electronics end markets within the Advanced Technology segment, results for the quarter exceeded our guidance.”
Advanced Technology Systems sales increased 29% over the prior year, including a 4% increase in organic volume and a 25% increase related to the first year effect of acquisitions. Operating margin was 24% in the quarter, or 26% on an adjusted basis to exclude $6 million of intangible asset amortization expense related to current year acquisitions.
“Organic growth for (ATS) exceeded expectations in the current quarter and compares to an exceptional quarter a year ago where organic growth was 30%,” said Hilton. The quarter’s acquisitive growth includes one month of the fiscal 2016 LinkTech acquisition and the fiscal 2017 acquisitions of ACE, InterSelect, Plas-Pak and Vention Medical.
Advanced Technology Systems includes Nordson Asymtek, Nordson Dage, Nordson Dima, Nordson EFD, Nordson Yestech, Nordson March and Nordson Select.