Circuits Assembly Online Magazine - Nordson Reports Record Q1 Sales of $245M

WESTLAKE, OH – Nordson Corp., producer of precision dispensing equipment, reported record first quarter sales of $245 million, up 20% year-over-year.

The company said net income was $21.3 million, up 37% compared to the same period last year.

Volume increased 15%, with the remainder coming from favorable effects of currency translation, Nordson said.

Operating profit for the quarter improved to a record $36 million, up 29% compared to the same quarter last year.

Revenue increased 41% in the advanced technology segment, 13% in the adhesive dispensing segment, and 8% in the industrial coating and automotive segment, according to Nordson.

First quarter sales increased 44% in Asia Pacific, 19% in Europe, 18% in Japan, 14% in the U.S. and 8% in the Americas.

Backlog at the end of the quarter was approximately $131 million, an increase of 24% year-over-year.

For the second quarter, sales are expected to reach a record level, with growth of 14 to 18% over the same period a year ago.