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Nordson Q1 sales grow 20% to $245mn
22
Feb '08
Nordson Corporation reported record first quarter sales, operating profit and diluted earnings per share. For the quarter ending January 31, 2008, sales reached a record $245 million, a 20 percent increase over sales in the same period a year ago. Volume increased 15 percent with the remainder coming from the favorable effects of currency translation.

Operating profit for the quarter improved to a record $36 million, a 29 percent increase over the same period a year ago. First quarter diluted earnings per share were a record $0.62, an increase of 35 percent over the same period a year ago.

“Nordson delivered another excellent quarter as the momentum with which we ended fiscal 2007 continued into the new year,” said Chairman, President and Chief Executive Officer Edward P. Campbell. “Demand for Nordson products and services grew in all segments and each geographic region.”

All segments contributed solid revenue growth in the quarter over the previous year. Revenue increased 41 percent in the Advanced Technology segment, 13 percent in the Adhesive Dispensing segment, and 8 percent in the Industrial Coating and Automotive segment.

“We are pleased with the excellent operating performance of the Adhesive Dispensing segment in the quarter. With orders growing faster than sales, the segment is also well positioned for continued strength in future quarters,” said Campbell.

“Sales growth in the Advanced Technology segment was driven by both incremental sales from recent acquisitions and expansion in our core product lines, yielding growth in operating profit of 26 percent in the quarter. In addition, the Industrial Coating and Automotive segment continues to deliver on its restructuring, evidenced by the approximately four percentage point improvement in operating margin.”

On a geographic basis, first quarter sales revenue increased 44 percent in Asia Pacific, 19 percent in Europe, 18 percent in Japan, 14 percent in the United States and 8 percent in the Americas.

“The global nature of our enterprise continued to serve us well during the quarter, as we realized solid revenue increases in all of our geographic regions,” said Campbell. “Nordson especially benefited this quarter from powerful growth in Asia Pacific, where our abilities to meet the specific engineering needs of customers and provide them with local support continued to make us the region's supplier of choice.”

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