Nordson Misses Q2 Views

reported weaker-than-expected results for the fiscal second quarter. The Westlake, Ohio-based company posted quarterly earnings of $49.2 million, or $0.80 per share, compared to $61.9 million, or $0.96 per share, in the year-ago quarter. Its revenue declined 4 percent year-over-year to $400.7 million. However, analysts were expecting a profit of $0.86 per share on revenue of $405.98 million. Sales volume in Adhesive Dispensing Systems dropped 2 percent year-over-year in the second quarter, while sales volume in Advanced Technology Systems rose 5 percent. Industrial Coating Systems organic sales volume climbed 23 percent in the second quarter. Its operating profit slipped to $76 million in the latest quarter, versus $93 million in the year-earlier period. For the 12-week period ending May 10, 2015, order rates in constant currency, rose 3 percent year-over-year. Backlog for the quarter rose 26 percent year-over-year to around $287 million. "Our global team continued to execute in a challenging macroeconomic environment, and Nordson delivered a solid quarter with revenue, operating profit and earnings per share within our range of expectations," said Nordson President and Chief Executive Officer Michael F. Hilton. "Our underlying business remains sound and total company organic sales volume growth was positive in the quarter." For the third quarter, the company expects GAAP earnings of $1.19 to $1.30 per share on sales growth of 2 percent to 6 percent. Nordson shares slipped 0.66 percent to $83.00 in the after-hours trading session.