Nordson Corporation Reports Q1 EPS of $1.30 vs. $1.10

Nordson Corporation

today reported the strongest first quarter sales, operating profit, net income and diluted earnings per share in its history. For the quarter ending January 31, 2011, sales were $271 million, a 23 percent increase over the prior year's first quarter sales. This sales improvement included a 24 percent increase in volume offset by a 1 percent decrease related to unfavorable currency translation effects. Operating profit for the quarter was $66 million compared to $36 million in the first quarter a year ago. First quarter diluted earnings per share were $1.33 as compared to $0.78 a year ago. Current year earnings included a $0.04 per share one-time tax benefit and a $0.01 per share charge for short-term inventory purchase accounting related to the company's acquisition of Micromedics Inc. Non-GAAP EPS $1.30