WESTLAKE, OH -- Nordson today reported sales at its Advanced Technology Systems segment rose 28% year-over-year in its fiscal fourth quarter, primarily on organic growth.

For its fourth quarter ended Oct. 31, the division's organic sales made up 21 percentage points of the increase, with the remaining seven percentage points coming from its acquisitions of Avalon and Dima SMT.

“This segment delivered very strong organic growth in all product lines during the quarter, led by demand for automated dispensing equipment related to electronic mobile device assembly, as well as continued solid demand for our electronic test and inspection and surface treatment equipment,” said Nordson president and CEO Michael Hilton. “Demand was also very robust in medical and general industrial end markets which drove strong growth in our semiautomated dispensing systems and single use fluid management components.”

Geographically, the segment delivered double-digit organic volume growth in every region except the US. Operating margin was 26%, up five percentage points from a year ago, inclusive of a $1.4 million one-time charge related to the step-up in value of acquired inventory. .

Overall company sales for the period were $469 million, up 14% over the prior year’s fourth quarter. The increase in sales included a 13 percentage point jump in organic volume, a three percentage point increase from new acquisitions, and a two point decrease due to currency effects. Operating profit was $106 million, up from $87 million, and net income was $72 million, up from $60 million.

Operating margin in the quarter rose 200 basis points to 23%.

"Our global team met strong demand from across our diverse end markets to deliver 13 percent organic sales volume growth compared to the fourth quarter a year ago,” said  Hilton. “Organic growth was broad based across all segments and geographies and drove record fourth quarter sales, operating profit and earnings per share."

Sales volume in the Adhesive Dispensing Systems segment improved 9% compared to a year ago,  while Industrial Coating Systems segment sales improved 16%.

Nordson guided for fiscal first quarter sales to grow five to nine percent over a year ago.

"We are forecasting a solid first quarter that reflects our backlog, current 12-week order rates and typical seasonality,” said Hilton. “The midpoint of our guidance includes organic sales growth of 8% over the prior year’s first quarter. We continue to feel optimistic about the growth opportunities we see in the diverse consumer durable, non-durable, medical, electronics and industrial end markets we serve.

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