Nordson Soars on Q3 Results

Nordson

released its fourth-quarter earnings results after the closing bell on Monday. The company reported net income of $66.7 million or $1.03 per share, compared to $56.6 million or $0.82 per share. On an adjusted basis, earnings per share were $1.06 versus $0.81 last year. This compared to Wall Street analysts' consensus EPS estimates of $0.99. Sales in the quarter were up 21.7 percent to $379.9 million. This easily exceeded Wall Street consensus revenue estimates of $358.45 million. Looking ahead to the fourth-quarter, Nordson said that it expects adjusted earnings per share of $0.96 to $1.04 and sales of $408 million to $422 million. Currently, analysts expect the company to report EPS of $0.95 on revenues of $394.49 million. Chief Executive Michael Hilton said, "Broad based demand across our business combined with the outstanding effort and execution of our global team resulted in another excellent quarter for Nordson." During Tuesday's trading session, NDSN had surged nearly 13 percent to $62.00 in early trading.