WESTLAKE, OH – Nordson's electronics equipment business unit reported sales fell about 1% year-over-year in its fiscal second quarter.

The Advanced Technology Systems unit's revenues were $249.3 million, down 0.6% year-over-year. The drop included a 2.4% decrease due to foreign currency fluctuations, partially offset by 1.8% increase in volume.

Adhesive Dispensing Systems sales decreased 1% to $236.8 million.  

The units include Asymtek, Dage, YesTech, Sonoscan, March and EFD.

Overall corporate sales were $551 million for the period, a decrease of less than 1% year-over-year.

For the quarter ended Apr. 30, sales included an increase of 3% organic volume and a decrease related to the unfavorable effects of currency translation compared to the prior year’s fiscal second quarter of 4%. Net income was $92 million, up 1% year-over-year, while operating profit was $129 million, flat with the fiscal second quarter of 2018.

“We were pleased to see organic growth compared to the prior year’s second quarter,” said CEO Michael Hilton. “This is a testament to the diversity of our end-markets and our ability to execute on our growth initiatives.”

Backlog for the quarter was $436 million, down 2% year-over-year.

“As we look at the remainder of this fiscal year, we continue to forecast organic growth. However, with the impact of recent macroeconomic trends, we now expect organic growth in the low single digits for fiscal 2019. We remain confident in our ability to generate approximately 100 basis points of operating and EBITDA margin improvement, as we advance our continuous improvement initiatives.”

• Prev
• Next