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© batman2000-dreamstime.com Electronics Production | May 23, 2014

Nordson's sales increase 9%

Nordson Corporation has reported its results for the second quarter of fiscal year 2014. Sales were USD 417 million, a 9 percent increase over the prior year’s second quarter.
This increase in sales included a 4 percent increase in organic volume and a 5 percent increase related to the first year effect of acquisitions.

Operating profit was USD 93 million, net income was USD 62 million. Prior year second quarter sales, operating profit, net income were USD 382 million, USD 82 million and USD 55 million, respectively.

“Our global team delivered excellent results in the quarter, as innovative products and a strong focus on meeting customer needs helped drive solid organic growth in sales in the majority of our product lines and regions,” said Nordson President and Chief Executive Officer Michael F. Hilton. “Sales, operating profit, and earnings per share were all second quarter records for Nordson. On a sequential basis, we leveraged strong top line growth of 16 percent to generate incremental operating margin of 67 percent. We also executed on our strategy of returning value to our shareholders by investing USD 53 million for the repurchase of shares and by distributing approximately USD 12 million in dividends during the quarter. Free cash flow in the quarter before dividends was USD 46 million and our balance sheet has significant capacity for ongoing investments.”

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