WESTLAKE, OH – Nordson reported fiscal third quarter net sales ended July 31 of $490 million, up 6% year-over-year.

Net income was $84.2 million, up 21.4% compared to the fiscal third quarter of 2015. Operating profit was $123.7 million, up 20.3% year-over-year.

“Nordson delivered record revenue and profitability in the third quarter as our global team continued meeting customer needs across our diverse end markets and driving efficiency throughout our operations,” said Michael F. Hilton, Nordson president and CEO.

Adhesive Dispensing Systems posted sales for the fiscal third quarter of $220.8 million, an increase of 4.3% year-over-year. Operating profit for the segment was $60.4 million, up 10.2% compared to the same period in 2015.

Advanced Technology Systems recorded sales for the quarter of $205.4 million, growth of 11.1% year-over-year, including 5% related to acquisitions. Operating profit was $63.1 million, up 41.4% compared to the same period last year.

“We generated robust organic growth in the third quarter compared to the prior year based on strong demand for automated and semi-automated dispense equipment in electronic end markets and fluid management components for medical end markets,” said Hilton.
Industrial Coating Systems reported fiscal third quarter sales of $63.7 million, down 3.7% year-over-year. Operating profit was $10.6 million, down 14% year-over-year.

Nordson’s backlog for the quarter ended July 31 was approximately $333 million, an increase of 22% compared to the same period a year ago.

The firm’s year-to-date net sales ended July 31 were $1.3 billion, up 4.6% year-over-year. Net profit was $196 million, an increase of 21.3% compared to the same period in 2015. Operating profit was $277.6 million, up 14.7%.

Year-to-date sales for Adhesive Dispensing Systems were $645.3 million, up 6% year-over-year, while operating profit was $173.8 million, growth of 16.6% compared to the January to July period last year.

Adhesive Technology Systems’ year-to-date sales were $481.8 million, up 8% year-over-year. Operating profit was $109.8 million, an increase of 14.1% compared to the same period in 2015.

Industrial Coating Systems recorded year-to-date sales of $172.7 million, down 7.5% year-over-year, and operating profit was down 9.1% to $25.1 million.

For the fourth quarter of fiscal 2016, Nordson’s total sales are expected to increase 6% to 10% year-over-year.

“At the low end of our fourth quarter guidance, Nordson is on track to deliver full-year records for revenue, operating profit and diluted earnings per share,” Hilton said. “We’re on pace for full-year organic growth of approximately 5% compared to the prior year.”


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