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Nordson Corp., supplier of dispensing equipment for adhesives, sealants, and coatings for appliance and other industries, reported the strongest third quarter sales, operating profit, net income, and diluted EPS in its history. For the quarter ending July 31, 2011, sales reached $312 million, up 12% over 3Q 2010. Volume was up 5% and the rest of the increase came from favorable currency translation. 3Q operating profit was $79 million, up 16% over 3Q 2010. Operating margin reached 25%, also an increase from a year ago. 3Q net income was $57 million, compared to $55 million a year ago.
For the first nine-months of fiscal year 2011 sales were $902 million, operating profit was $237 million, and net income was $168 million, all of which are first-nine-months records.
Nordson expects fourth quarter 2011 sales to be in the range of $315 million to $327 million, for an increase in volume of 5% to 9%, inclusive of 2% from acquisitions, with an additional 4% currency translation benefit, for a total sales increase of 9 to 13%.
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