Business is good for Nordson Corp., the Westlake-based global manufacturing of precision equipment used on manufacturing production lines around the globe. Sales and profits are up and are expected to continue to increase.
The Nordson Corp. is increasing sales and profits. WESTLAKE, Ohio -- Sales jumped 14 percent at Nordson Corp. in the third quarter of is fiscal year 2014 compared to the same time last year, finishing on July 31 at $459 million.
Nordson manufacturers precision adhesive dispensing systems, high-tech, automated systems in the production of electronic mobile devices and industrial coating systems used on assembly lines. You can listen to the teleconference by clicking here.
Here are the key points of Nordson's earnings report, released late Thursday:
-- Net income, after all expenses, was $78 million or $1.21 per share for the quarter, compared to $65 million, or $1.01 per share on sales totaling $403 million in Q3 2013.
-- Sales grew by 15 percent in both the adhesive dispensing and advanced technology divisions of the company, while growing by only 1 percent in the division producing industrial coating equipment.
--Backlog of orders on July 31 was about $266 million, up 36 percent compared to the same time last year.
-- Outlook for the fourth quarter is that sales will grow by 10 percent to 14 percent compared to year ago results.
-- Nordson shares are traded on the NASDAQ. The share price closed at $79.80 at the close of business on Thursday. Look for an uptick Friday as Nordson beat analysts expectations.