WESTLAKE, OH – Nordson Corp. reported fiscal second quarter Advanced Technology Solutions sales were nearly $319 million, an increase of 9.7% year-over-year.

Organic sales increased 11%, partially offset by an unfavorable currency impact. The organic sales increase was driven by robust demand across electronics dispense, test and inspection, and biopharma fluid component product lines.

ATS operating profit was $98 million, or 31% of sales, an increase of 29% compared to the prior year quarter.

For the period ended Apr. 30, the company’s total sales were $635 million, up 8% increase compared to fiscal second quarter 2021. The increase includes organic volume growth of 7% and a favorable acquisition impact of 4%, partially offset by unfavorable effects from currency translation of 3%. The organic sales increase was driven by strong demand across most end markets, offset by unfavorable impacts from Covid-related lockdowns in China.

Total net income was $110 million, down 11.7% year-over-year. Adjusted net income, including the $41 million non-cash pension annuitization charge, was $142 million, an $18 million increase from the prior year earnings of $124 million.

Nordson’s fiscal second quarter operating profit was $184 million, or 29% of sales, growth of 10.6% year-over-year. This increase was driven primarily by sales volume leverage. EBITDA was $209 million, or 33% of sales.

“I am very proud of the Nordson team’s efforts and our impressive second quarter financial performance, despite the ongoing Covid-related lockdowns in China and foreign currency headwinds,” said Sundaram Nagarajan, president and CEO, Nordson. “We remain focused on the safety of our employees and delivering on the strong broad-based demand from our customers. The ongoing deployment of the NBS Next growth framework is delivering tangible results in terms of strong order entry and 70% organic incremental margins.”

For the six months ended Apr. 30, ATS sales were $604.2 million, up 14.2%.

The company’s total sales for the six-month period were $1.2 billion, an increase of 11.5% compared to the same period in 2021. Net income was $230 million, up 14%. Operating income was $339.8 million, growth of 23.4% year-over-year.

The company continues to be encouraged as order entry remained strong throughout the fiscal second quarter with a favorable book-to-bill ratio. Backlog entering the second half of fiscal 2022 exceeds $1 billion, as the company continues to see extended shipment request dates in conjunction with large orders from its customers in electronics, industrial and medical end markets.

For the full year, Nordson is increasing its previously issued adjusted earnings guidance to growth in the range of 18% to 21% and narrowing its previously issued year-over-year revenue guidance to growth of 8% to 9% over fiscal 2021.

Nordson’s brands include Nordson Asymtek, Nordson March, Nordson Select, Nordson EFD, and Nordson Test and Inspection.

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