WESTLAKE, OHIO – Nordson Corp. reported fiscal first quarter sales of $550 million, up 35% year-over-year.
For the quarter ended Jan. 31, net income was $105 million, an increase of 110% compared to the same quarter the previous year. Operating profit was $118 million, up 55.3%.
Adhesive Dispensing Systems sales increased 6% compared to the prior year’s fiscal first quarter. Advanced Technology Systems sales increased 87% year-over-year, and Industrial Coating Systems sales increased approximately 7%.
“Our team delivered impressive sales, operating profit, diluted earnings per share, and EBITDA in the quarter against very challenging prior year comparisons, where total company organic sales growth was 10%,” said Michael F. Hilton, Nordson president and CEO. “Demand was robust in most all product lines, led by electronics and medical end markets within the Advanced Technology Systems segment. With this strong top line growth, Nordson delivered exceptional results for the quarter where EBITDA margin improved 250 basis points compared to the prior year’s first quarter to 26% of sales.”
Backlog for the quarter ended Jan. 31 was approximately $405 million, up 24% year-over-year.
For the fiscal second quarter, sales are expected to increase 9% to 13% year-over-year.